Each will be headed by divisional chief executives from group executive committee.
Liam McLoughlin will be chief executive of the retail Ireland division, where he will be responsible for the branch network, business banking, mortgages, personal lending, debit and credit cards and wealth management.
Mr McLoughlin has been head of group manufacturing since July 2009. Prior to that he held a number of senior positions in the capital markets and finance divisions.
The chief executive for the retail British division will be taken up by Des Crowley, who will be responsible for the various British-based retail businesses within the subsidiary Bank of Ireland (UK) plc and outside the subsidiary.
Prior to this he held a number of positions on the group executive committee since 2000, including chief executive.
The bank has also announced changes to the board of directors. Andrew Keating has been appointed an executive director of Bank of Ireland and group chief financial officer.
Mr Keating will replace John O’Donovan who has retired from the role. Mr Keating was formerly director of group finance.
The group executive committee will also see a change with the addition of Senan Murphy to head of group manufacturing.
Mr Murphy, a chartered accountant, was most recently chief operating officer and finance director at Ulster Bank, which he joined in 2008 having been Airtricity finance director.