Bank Of Ireland Shakes Up Executive Team With New Retail Ireland CEO

LONDON (Alliance News) - Bank Of Ireland Group PLC said on Monday it has made several changes to its senior executive team, namely the appointment of its current chief information officer, Gavin Kelly, as chief executive officer of its Retail Ireland division.

Kelly will be responsible for overseeing the provision of banking products and other financial services to personal, business and wealth management customers including deposits, mortgages, lendings, credit cards and asset finance to name a few.

Kelly has been a part of Bank of Ireland for 11 years since 2007, and held his current role for five months since November.

Also, Michael Torpey, chief executive of corporate banking, markets & treasury will retire after five years in the role since 2013. Toni Hayes will remain chief executive of corporate banking, while Group Treasurer Sean Crowe will become chief executive of markets & treasury.

In addition, Chief Governance & Regulatory Officer Peter Morris will retire from his role in the summer of 2018, after eight years in the role since 2010. His responsibilities will be taken up by Chief Risk Officer Vincent Mulvey.

Chief Operating Officer Lewis Love will leave the bank in order to spend more time with family, travel and pursue other opportunities, Bank of Ireland said.

Love has been COO at the Bank of Ireland for nearly two years since September 2016, joining from professional services firm Aon PLC where he spent eight years from 2008 to 2016, leaving as chief procurement officer.

He will be replaced on an interim basis by Head of Integrated Planning Maureen Stanley.

"I would like to congratulate Gavin Kelly on his appointment as CEO of Retail Ireland. Retail Ireland provides the touchpoints between the bank and many of our customers in Ireland, and will therefore play a major part in Bank of Ireland's transformation. I would like to thank those leaving the Bank and wish them very well for the future, and congratulate those who have expanded roles," said Chief Executive Officer Francesca McDonagh.

"These changes announced today will ensure that my team is structured in the best possible way to achieve the group's ambition, reflect its purpose and support its transformation. In these changes - which are the most significant at this level for a number of years - I am expanding the number of senior team members who have direct accountability for serving our customers and growing the business. This will strengthen the voice of the customer at the very top of our organisation," McDonagh added.

Shares in Bank of Ireland Group were down 0.1% at EUR7.43 on Tuesday.