Former Barclays executive Jeremy Masding is new boss at Permanent TSB
Former Barclays banker Jeremy Masding has been appointed chief executive at Irish Life and Permanent, which trades as Permanent TSB Bank.
The new position is being created as part of the separation of the life and pensions businesses of Irish Life & Permanent Group Holdings which comes into effect later this year.
The current chief executive of Permanent TSB, David Guinane, will leave next month.
Between 1984 and 2007, Mr Masding worked with Barclays Bank in a variety of different roles including branch banking, International Banking and in head office as a Director of Strategy Development. More recently he was chairman of the Richmond Group, an independent loan broker and lender, and Group CEO of Central Trust.
"I believe Permanent TSB has a very important role to play as a force for competition in what is a much reduced Irish banking sector,'' said Mr Masding, who worked at Barclays in a number of roles since 1984.
''But I am also conscious of the wider responsibility of the bank to the Government and the taxpayers who have supported it through incredibly difficult times.
“We owe it to them to return the bank to strength and profitability as quickly as possible," he added.