Business Irish

Friday 23 March 2018

Barclays Bank Ireland chief has stepped down

Peter Flanagan and Emmet Oliver

THE head of the Irish division of Barclays Bank has left his post, it was confirmed yesterday.

John O'Connor, who joined Barclays Bank Ireland in June 2008, has left the firm "to pursue other interests".

Chief financial officer James Kelly has taken over the day-to-day operation of the business, while an internal and external search for a replacement continues.

A spokesman for Barclays paid tribute to Mr O'Connor and added that the bank remained "committed" to its Irish business.

"Under the leadership of John O'Connor, Barclays Bank Ireland has grown significantly, establishing itself as a significant player in the corporate banking market in the process," he said.

Barclays employs around 120 people here, primarily in wealth management, corporate banking and the group's investment banking division, Barclays Capital.

Barclays Bank Ireland made a profit of €2.8m in 2009. Worldwide, Barclays thrived during the economic downturn, posting a 92pc increase in profit to £11.6bn (€13.65bn) last year.

Mr O'Connor has been involved in the banking sector at a senior level for more than two decades, and he counts UBS, Fortis and Bank of Ireland among his previous employers.

Last year he called for a return to the basics of banking and claimed there was "no real ceiling on what we (Barclays) can or cannot do" in Ireland. "Will we go back to boring banking? Well, what I ask is, 'what is boring banking?' Is boring banking doing what you should have been doing all along?

"Is that boring banking? Maybe we should drop the 'boring' and just call it banking," he said.

Irish Independent

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