Allied Irish: Best in the business

Aug 21 2009 By Peter McCusker, The Journal

THERE’S only one Allied Irish. The prestigious Newcastle bank in Collingwood Street is the solitary branch between Leeds and Edinburgh.

The ordinary current-account customer may not be familiar with it, but it’s certainly well known to North East commerce.

“We’re not a mass-market brand,” says Paul Tognarelli, Allied Irish Bank (GB) senior manager, corporate business.

“We’re very much into the business community looking after the wealth management of individual shareholders and directors. The business community knows us well, it’s a very competitive marketplace and we continue to grow our share in the region through our focus on business sectors and our ability to tailor deals and transactions.”

Sunderland-born Paul is well-known in the region’s banking, commercial property and business circles, having worked with many of the most successful North East firms during his 20 years with Allied Irish, a wholly-owned subsidy of Allied Irish Banks plc. He now leads its 28-strong team in Newcastle, having taken over from the long-serving Rowan Duggan early in 2008.

“Everything is run from here,” says Paul. “Newcastle is the most successful business unit in Allied Irish Banks (GB). We have autonomy on all our decisions, it’s like running your own business.

“The bank believes in empowering key people – we have all the normal business support here in IT, accounting, HR and credit delivery.

“There are some experienced entrepreneurs as clients who are full of ideas and ambition and it’s my job to make sure those ambitions and talent are fulfilled. I have a team of enthusiastic and experienced corporate bankers who are able to understand sector specialities and customers requirements.”

One example of this is the close ties the Allied Irish has with the Asian Business Forum in the North East. The benefits of working closely with some of the region’s most active business networks are obvious and the bank will once more be the headline sponsor of the Forum’s annual dinner in October.

Paul says: “We work with many different thriving businesses across a whole range of sectors, many of whom are members of the Asian Business Forum. The dinner is an excellent match for us as it allows us to support and celebrate local success and home-grown talent in the region.

“Even in times like this there are still strong businesses and dynamic entrepreneurs who drive them. Working with these individuals in their diverse business interests it is vital to get close to a client’s organisation. Being close to the business means that the decision-making process is clearer and quicker and taking the time to develop a relationship and understand what makes a business tick can deliver real benefits.

“There’s a lot of confidence in the North East to make things happen and we expect the property market will come up by 2010 – we’ve developed a reputation and experience in that sector and also in leisure and health care. Our customers have been very supportive to our property development and investments. The leisure sector is bearing up surprisingly in the recession – hotels, pubs and restaurants – so we’re very pleased at that.”

Paul Tognarelli’s Italian name disguises the fact that he was brought up and educated in Sunderland – his grandfather left Tuscany in 1916 looking for work and headed for Glasgow.

“I’ve done all my banking in the North East with Allied Irish,” he says, “ and I worked with Northern Rock in the very early days when it was a building society. Recently we were awarded recognition as a “superbrand” by the Chartered Institute of Marketing.”

In 2006, for the seventh consecutive time, Allied Irish Bank (GB) won the title of “Britain’s Best Business Bank” from the Forum of Private Business, being ranked top for customer service and maintaining its lead over other major banks. Although not a high-street name, the bank offers a full service to business and personal customers and there is a clear focus on relationship banking in the mid-corporate business sector, owner managed businesses, professionals and high net-worth individuals. Its corporate banking services have particular expertise in the commercial property, education, health and charity sectors.

“The banks have all suffered with bad press and bad financial performance, but we made a pre-tax profit of £1bn,” says Paul. “That was down from previous years, but a bank coming up with any sort of profit is good. This is a year of consolidation but we’re optimistic we’ll produce another good performance this year.

“We’ll continue to be very supportive of all of our customers and to help their businesses through the recession although there are certainly difficulties still ahead. But there is some evidence of business to business deals now being looked at again. There seems to be a lot more activity in the North East marketplace.”

Paul Tognarelli on influence

What, in your opinion, is influence?

Influence is the ability to change the perceptions, ideals and actions of others.

Is influence the same as power?

Influence is a key exponent of leadership. It is persuasive and can demonstrate the subtleties of power. Influence modifies behaviour and enlightens life. Misused, it can harm but in harness with best values, will produce a powerful impact on communities.

Who or what have you been most influenced by?

My greatest influence has been my parents who have shown how hard work, resilience and patience are keys to success.

Who or what has most benefited from your influence?

You would have to ask others, but I would like to think there are a number of successful individuals and communities that have benefited.

To be influential you must...

Be aware of the ambitions of your community and be a key voice in satisfying them.