BANK OF Ireland is planning to appoint an internal candidate, the director of group finance Andrew Keating, to the recently vacated position of chief financial officer.
Mr Keating (41) will replace John O’Donovan who retired last month after 10 years with the bank. The appointment has to be approved by the Central Bank.
Mr Keating was previously finance director in the bank’s capital markets unit and has worked with Ulster Bank in the past.
He has described Bank of Ireland’s €3.5 billion recapitalisation in 2010 as “probably the single most complex piece of capital raising in Irish history”.
The bank had to raise a further €4.2 billion last year under the terms of the EU-IMF bailout programme. The lender, the only domestic bank to avoid Government control, has been clearing out its board of non-executive directors who were in place before the 2008 financial crash.
Chief executive Richie Boucher, the only executive director of the bank, is the sole surviving board member whose appointment predates the 2008 bank guarantee.
