18th Sep 2006 07:01
Bank of Ireland(Governor&Co)18 September 2006 Bank of Ireland announces Divisional restructuring Bank of Ireland today announced the formation of a Capital Markets Divisionincorporating the present Wholesale Financial Services and the Asset ManagementServices operating divisions. This new alignment provides a strategic coherencefor a number of the main growth businesses in the Group and reflects theobjective of growing the Bank's skill-based businesses internationally. Denis Donovan, currently Chief Executive of the Wholesale Financial ServicesDivision, becomes Chief Executive of the new Capital Markets Division. KevinDolan, Chief Executive of Asset Management Services, having refocused thisbusiness by broadening the portfolio into the alternative asset classes with anumber of key acquisitions, is returning to London to rejoin his family. Making the announcement, Group Chief Executive Brian Goggin said: "Creating aCapital Markets Division is a logical strategic development of our ambitiousinternational growth strategy. The major businesses contained in the new CapitalMarkets Division operate in most of the Bank's markets and require a commonrange of specialist skills. This structure provides the coherence and strategicfocus necessary to ensure we capitalise on the investment we have made in talentdevelopment in this area over recent years." "Denis Donovan brings the experience, energy and reputation for delivery todrive the Capital Markets Division forward. I am confident that his leadershipwill help realise our growth objectives in the international arena. I would liketo sincerely thank Kevin Dolan for his contribution to the development of ourAsset Management business over the past two years and I wish him well in hisfuture business endeavours." Denis Donovan has been Chief Executive of the Wholesale Financial ServicesDivision since April 2003. From 1999 to 2003, Denis was CEO of Bank of IrelandGlobal Markets, with responsibility for Bank of Ireland's treasury, offshore andinternational banking operations. Prior to moving to Global Markets, Denis wasChief Operating Officer - International in Bank of Ireland Asset Management andplayed a pivotal role over 14 years in developing BIAM's international business. 18 September 2006 For further information contact: Dan Loughrey Head of Group Corporate Communications 353 1 604 3833Geraldine Deighan Head of Group Investor Relations 353 1 604 3501 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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