New director for IL&P

The Chairman of Irish Life & Permanent plc (IL&P), Gillian Bowler, has announced the appointment of Breffni Byrne as a non-executive director of the group.

Breffni Byrne, aged 58, was a former senior partner at Arthur Andersen. A chartered accountant, he is a director of a number of companies in Ireland including Coillte Teoranta and Tedcastle Holdings.

Speaking on the appointment, Ms Bowler said that Mr Byrne will bring a wealth of experience to the group.

"Breffni has extensive experience in financial services, due diligence, special investigations and corporate governance and we look forward to his contribution to the work of the board," she said.

IL&P was trading at €12.25 at lunchtime today, down 20c from this morning's starting share price.