BoI to start US property business

BANK OF IRELAND yesterday announced it will establish its first US property business as it further diversifies into overseas markets.

Last month, BoI said it’s repositioning its geographic position to having 50%-plus of its business outside of Ireland over the next number of years from 40% currently.

BoI’s US property business will be led by Matthew Galligan, who was formerly the executive vice-president of Boston-based loan adviser DebtX.