Breffni Byrne and Danuta Gray are to stand down from the Board of Irish Life & Permanent, the company said today.

Irish Life & Permanent chairman Gillian Bowler has today the establishment of a new Committee to deal with Risk & Compliance issues.

Irish Life & Permanent chief executive Denis Casey has today resigned from the Group.

The ISEQ index dropped 84.77 today to close the day at 5,266.74, with financial stocks on the slide.

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.