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(Alliance News) - Bank of Ireland Group PLC on Tuesday said it has made a number of changes to its executive committee in order to grow sustainable profit.
The company said Chief Strategy Officer Mark Spain has been appointed to the group's executive committee and will be reporting directly to Francesca McDonagh, Bank of Ireland chief executive.
The bank noted that a key component of its strategy is the transformation of IT systems to deliver better customer service and improved efficiency. The underlying foundations of the new core banking platform have been delivered, the company said, and the first customers have been tested on the system successfully.
The focus of the next phase of the systems transformation is on delivering customer improvements, including the new mobile app, Bank of Ireland highlighted.
As a result, the company said it intends to integrate the Core Banking Systems Programme into its Technology & Customer Solutions division under the leadership of current Chief Operating Officer Jackie Noakes.
Bank of Ireland also said it is focussed on simplifying how it operates in order to improve the customer experience, and deliver its cost reduction targets. The company plans to deliver "all aspects of the retail customer relationship" within the Retail Ireland division under CEO Gavin Kelly, ensuring a streamlined approach to enhance customer service, avoid duplication, and ensure clear accountability.
"These changes support the next phase of our group transformation. Unifying all IT systems change under Jackie Noakes and giving clear responsibility for the retail customer relationship to Gavin Kelly simplifies our organisation and enhances our focus," said McDonagh.
Bank of Ireland shares were trading 2.4% lower on Tuesday in London at EUR4.57 each.