BOI names new CFO, splits retail division

Bank of Ireland is to split its Ireland and UK retail division in two.

The bank has also named Andrew Keating as its new chief financial officer.

Keating moves from his role of director of finance.

He joined the bank in 2004, and takes over from John O'Donnovan following his retirement.

The bank said that for "strategic management purposes" it would split its Retail (Ireland & UK) Division into Retail Ireland Division and Retail UK Division.

"Each will be headed up by separate Divisional Chief Executives who will be members of the Group Executive Committee," a statement said.

Des Crowley will be Chief Executive of the Retail UK Division, and Liam McLoughlin will be Chief Executive of the Retail Ireland Division.

Meanwhile the bank also announced that Senan Murphy, former Chief Operating Officer and Finance Director at Ulster Bank, will join to become Head of Group Manufacturing.

The new group structure will have an implementation date of mid-March 2012, the bank said.