Friday 20 October 2017

KBC chief operating officer to step down

Evert Vandenbussche
Evert Vandenbussche

Gretchen Friemann

KBC Ireland's chief operations officer, Evert Vandenbussche, is expected to step down from the role shortly, according to sources close to the Belgian bank.

It is understood a search for Mr Vandenbussche's replacement is under way.

His move comes at a time of churn in Irish banking circles with a looming change of the guard at Bank of Ireland as long-serving CEO Richie Boucher hands over the reins to a high-ranking ex-HSBC executive, Francesca McDonagh.

The reshuffle at KBC's Irish unit, which remains saddled by a high volume of non-performing loans, follows the lender's decision earlier this year to remain a long-term player here.

The Belgian bank, which in the pre-crisis era had focused on corporate and real estate lending, suffered heavy losses after the crash but opted against an exit.

After the conclusion of a strategic review KBC announced it intended to remain in Ireland in February.

A spokesperson for the lender said it was "unable to provide a comment".

Irish Independent

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