Former Shell director replaces Flynn

BANK of Scotland has moved swiftly to fill the gap of chairman of their Irish business following the sudden departure of Phil Flynn.

The bank has appointed Ron Garrick as its new chairman after Mr Flynn quit the bank last Friday night.

Mr Flynn is a director of Chesterton Finance, the Cork company under investigation by gardaí as part of alleged money-laundering activities. Mr Flynn, whose home and offices were searched by gardaí, has denied any wrong doing.

Mr Garrick is currently deputy chairman of HBOS plc, the owners of Bank of Scotland. He joined that board in 2000. Mr Garrick was previously chief executive of the Weir Group plc and a director of the oil group Shell.

The loss of Mr Flynn will be a blow to Bank of Scotland. It has been expanding rapidly in Ireland since acquiring the former State-owned ICC Bank five years ago.

Mr Flynn has extensive knowledge of the Irish market through his other business activities.

He is a director of the property firm Harcourt Developments, one of Ireland's largest developers.

Also listed as directors of Harcourt are the former RTÉ presenter Mike Murphy and Andrew Parker Bowles, the ex-husband of Camilla Parker Bowles.

Mr Flynn has also resigned as a director of the VHI and the Government's Decentralisation Implementation Group.