Permanent tsb appoints new chief executive

Brian McConnell has been appointed the new chief executive of permanent tsb, it was confirmed today.

Mr McConnell succeeds Harry Lorton, who has announced his decision to retire after a 33-year career in banking.

Mr McConnell, aged 55, is currently Group Chief Operating Officer of Irish Life & Permanent and is an executive director of the Group.

McConnell was a main Board Director of Ulster Bank in Ireland between 1987 and 1995.

He was Chief Executive of Ulster Investment Bank between 1987 and 1995. Prior to joining what was then Irish Life plc in 1999 he was Regional Managing Director for NatWest UK Corporate Banking Services.

In his current role with Irish Life & Permanent plc, McConnell has a close involvement with the operation of the bank.

Speaking on the company's website today, the Chairman of Irish Life & Permanent plc, Roy Douglas, paid tribute to Harry Lorton’s contribution to the bank over the past 12 months.

"While his decision was unexpected, we fully respect his wish to retire at this point and we wish him, his wife Mary and their family every happiness in the future," he said.