Tuesday 24 October 2017

Treasurer role for Dolan at PTSB

Lender Permanent TSB. Photo: Collins
Lender Permanent TSB. Photo: Collins

Sean Duffy

Declan Dolan has been appointed as group treasurer for Irish lender Permanent TSB.

Mr Dolan has been performing the treasurer role on an interim basis over the past 12 months.

He was a key member of a restructuring plan which resulted in the completion of a €9bn deleveraging programme.

The restructuring plan saw PTSB sell its UK subsidiary CHL for around €2.7bn back in September of this year. The bank also sold its Irish commercial real estate book in Ireland.

Mr Dolan was also responsible for securing €500m worth of funding for PTSB at a rate of 0.25pc. The debt was raised through a securitisation of residential backed mortgages.

“Declan is an outstanding treasury professional,” said Jeremy Masding, Permanent TSB ceo. “He has overseen some of the most critical financial transactions in the Group’s recovery and we are delighted to appoint him to this important role.”

Mr Dolan will report to interim chief financial officer (cfo) Patricia Carroll.

The company stated it will appoint a permanent cfo in the  early months of 2017.

Irish Independent

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