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26 May 2009 17:00
Bank of Ireland announces executive management changes
Bank of Ireland has today announced some changes to its Group structure and the composition of its Senior Executive Team.
Mr. John O'Donovan and Ms. Christine Brennan continue in their current roles as Group Chief Financial Officer and Head of Group HR respectively.
Mr. Denis Donovan remains Chief Executive of Capital Markets Division. This Division consists of Global Markets, Corporate Banking, Asset Management, Security Services and IBI Corporate Finance.
Mr. Des Crowley becomes Chief Executive of a new Division, Retail (Ireland & UK). This Division encompasses the principal activities previously managed within the separate former Retail Financial Services Ireland and UK Financial Services Divisions. These include our extensive branch networks throughout the island of Ireland, Business Banking in Ireland and the UK, mortgages, personal loans, credit cards and day to day banking in Ireland and the UK, Wealth Management in Ireland, and our very successful joint ventures with the UK Post Office.
Mr. Ronan Murphy has been appointed to the new role of Chief Governance Risk Officer, a position which includes responsibility for overseeing and, as appropriate, managing Regulatory Risk and Relationships, Compliance and Operational Risk, and analysis of overall risk at the Group level. He will also carry responsibility for Group Internal Audit, Group Legal Services and Group Secretariat.
Mr. Vincent Mulvey will join the Group Executive in a new Group Executive position as Chief Credit & Market Risk Officer, responsible for providing strong independent oversight and management of Credit & Market risk strategy, Credit risk management information, Credit & Market risk underwriting as well as strategic oversight and, as appropriate, the management of certain challenged portfolios.
Mr. Liam McLoughlin will become Head of Group Manufacturing with effect from 1 July 2009, responsible for supporting the Group's Retail (Ireland & UK) and Capital Markets Divisions through the provision of technology, infrastructural and operational supports. Mr. McLoughlin will succeed Tony Wyatt, who will be leaving the Group following a period of transition.
All appointments, except for Head of Group Manufacturing, are with immediate effect.
Des Crowley, Denis Donovan and John O'Donovan remain members of the Bank of Ireland Court.
Announcing these appointments Richie Boucher, Group Chief Executive Officer said: "This new structure will help us enhance our capabilities to serve customers across geographic boundaries whilst generating operating and cost efficiencies, as well as giving enhanced visibility for and representation at the Group Executive to support our focus on Credit & Market Risk and on Governance responsibilities and issues."
26th May 2009
Contact details:
Geraldine Deighan Head of Group Investor Relations +353 1 604 3501
Dan Loughrey Head of Group Corporate Communications +353 1 604 3833
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