BoI announces structural changes

Bank of Ireland today announced some changes to its group structure and the composition of its senior executive team.

Des Crowley is to become chief executive of a new division, Retail (Ireland & UK), which will take over the principal activities of the former Retail Financial Services Ireland and UK Financial Services divisions.

These include branch networks throughout the island of Ireland, business banking in Ireland and the UK, mortgages, personal loans, credit cards and day-to day-banking in Ireland and the UK, wealth management in Ireland, and joint ventures with the UK post office, a company statement said.

Ronan Murphy has been appointed to the new role of Chief Governance Risk Officer; Vincent Mulvey will join the executive team in a new position as Chief Credit & Market Risk Officer, and Liam McLoughlin will become Head of Group Manufacturing.

John O’Donovan and Christine Brennan continue in their current roles as Group Chief Financial Officer and Head of Group HR respectively, while Denis Donovan remains Chief Executive of the Capital Markets division.

“This new structure will help us enhance our capabilities to serve customers across geographic boundaries whilst generating operating and cost efficiencies," said CEO Richie Boucher, "as well as giving enhanced visibility for and representation at the Group Executive to support our focus on Credit & Market Risk and on Governance responsibilities and issues.”