New BoI retail chief pledges to improve customer's financial wellbeing

 Bank of Ireland's Susan Russell with Bank of Ireland chief Myles O’Grady, Minister for Finance Michael McGrath, and Jonathan Mitchell of Mitchell & Sons Wine Merchants.

Bank of Ireland has named Susan Russell as its new chief executive to run its Retail Ireland division that covers almost all of its lending activities at home. 

Ms Russell, who has worked at the bank for 23 years in areas that include retail banking, finance, digital, strategy and operations, has pledged to improve the lot of customers. 

"My ambition is to provide practical and compelling customer propositions, that improve customer's financial wellbeing as well as playing a positive role in wider society," she said in a statement.

The appointment comes at a time of huge upheaval in Irish banking following the exits of Ulster Bank and KBC Bank. The two lenders were major rivals to Bank of Ireland and AIB, who, together with Permanent TSB, have now increased their dominance over banking services in the Republic. 

"The Retail Ireland division provides a wide range of consumer banking products, services and channels," Bank of Ireland said.  

"Along with the provision of mortgages, current accounts and personal loans Retail Ireland includes a 169-strong branch network, the bank’s ATM network, day-to-day digital banking channels, a network of contact centres, and New Ireland Assurance", and includes 4,000 people," the bank said. 

Bank of Ireland group chief executive Myles O’Grady said that Ms Russell's experience "coupled with her energy, will be invaluable over the coming period".