Thursday 23 November 2017

BoI to separate management of UK and Ireland retail divisions

Laura Noonan

Laura Noonan

BANK of Ireland (BoI) is separating the management of its UK and Ireland retail divisions in a bid to "enhance the visibility and focus" of the two units.

The bank announced the news yesterday, adding that senior executive Des Crowley will take responsibility for the UK unit while Liam McLoughlin will lead Retail Ireland.

Mr Crowley was heavily associated with the establishment of the bank's UK legal entity back in 2009, though his most recent role was heading up the combined UK and Ireland retail portfolio.

Mr McLoughlin had been head of BoI's group manufacturing unit, a back-office division that controls a significant part of the bank's internal budget for things like IT infrastructure.

He'll be replaced in that role by newly hired Senan Murphy, a former Ulster Bank chief operating officer. The changes will all take effect by mid-March.

Yesterday's announcement also confirmed that Andrew Keating is set to become the bank's next finance director, as previously reported.

Mr Keating replaces John O'Donovan, who has "retired from that role", Bank of Ireland said yesterday.

Sources last night said the various changes and appointments represented BoI refocusing on its core operations.

The bank has no plans to dispose of the UK division.

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