Northern Bank and NIB to separate

DANSKE BANK is to separate Northern Bank and National Irish Bank into two stand-alone units.

It made the announcement following the completion of the acquisition of the banks from National Australia Bank yesterday.

Don Price, who was boss of the Irish operations for the past several years, is to take over as chief executive of Northern Bank. National Irish Bank’s chief operating officer John Trethowan will act as its chief executive until a new chief executive is appointed. The chairman of Danske Bank’s executive board, Peter Straarup, will chair the boards of both banks.