Bank of Ireland Announces Appointment of new CFO

RNS Number : 4485G

Bank of Ireland Group PLC

29 March 2022

 

Bank of Ireland Group plc

Bank of Ireland Announces Appointment of new Chief Financial Officer

29 March 2022

On 27 September 2021, the Bank of Ireland Group announced that Myles O'Grady would step down from the role of Group Chief Financial Officer and Executive Director in March 2022.

The selection process to identify a successor has concluded and the Group is pleased to announce Mark Spain as Group Chief Financial Officer and Executive Director.

Mark joined the Group in 1998 as a Client Advisory Director in IBI Corporate Finance. He became Director of Group Investor Relations in 2013, followed by Director of Group Finance in 2016. In 2019, he was appointed Chief Strategy Officer and member of the Group Executive Committee. As Chief Strategy Officer, Mark has led the delivery of a number of strategically important initiatives including the Group's strategy refresh process, and the successful bid for Davy and agreement to acquire the KBC Bank Ireland portfolios in 2021. Mark holds a Batchelor of Commerce (Accounting) degree from UCD and is a Fellow of the Institute of Chartered Accountants Ireland.  He has previously worked for Diageo plc and KPMG.

Mark will formally take over as Chief Financial Officer and Executive Director on 31 March 2022.

With Mark's move to the Chief Financial Officer position, Enda Johnson will take over responsibility for Group Strategy, in addition to his current Transformation responsibilities, becoming Chief Strategy and Transformation Officer. Prior to joining the Group in February 2022, Enda was Interim Chief Financial Officer at Virgin Money having previously served as Group Corporate Development Director where he oversaw Virgin / CYBG's strategy development and acquisition activity. Prior to joining CYBG, Enda held senior roles in AIB, the NTMA and Merrill Lynch.

Bank of Ireland's Group Chief Executive, Francesca McDonagh, said:

"I want to congratulate Mark Spain on his appointment as Group Chief Financial Officer and Executive Director. Mark is taking up this role during a transformational period for the Bank of Ireland Group. He brings to the role his depth of understanding in relation to the Group's strategic and financial progress and targets, along with his significant experience in strategy development and delivery, transformation, and mergers and acquisitions.

As Mark moves to the CFO role, I am pleased that Enda Johnson will take over responsibility for Group Strategy, becoming Chief Strategy and Transformation Officer. Mark and Enda's understanding and experience will strongly support the Group in delivering on its ambition, purpose, and strategic priorities over the period ahead."

The announcement is made in accordance with Rule 6.6.5 of Euronext Dublin's Listing Rules and Rule 9.6.11 of the London Stock Exchange's Listing Rules. The Company confirms that there are no matters requiring disclosure under Rule 6.6.7 of Euronext Dublin's Listing Rules/Rule 9.6.13 of the London Stock Exchange's Listing Rules.

Ends

For further information please contact:

Bank of Ireland

Sarah McLaughlin, Group Secretary      [phone] ext. 48577

Darach O'Leary, Head of Group Investor Relations                                [phone] ext. 44711

Damien Garvey ,
Head of Group External Communications & Public Affairs                  [phone]

Forward Looking Statement

This announcement contains forward-looking statements with respect to certain of Bank of Ireland Group plc ('BOIG plc') and its subsidiaries' (collectively the 'Group') plans and its current goals and expectations relating to its future financial condition and performance, the markets in which it operates and its future capital requirements. These forward-looking statements often can be identified by the fact that they do not relate only to historical or current facts. Generally, but not always, words such as 'may,' 'could,' 'should,' 'will,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'assume,' 'believe,' 'plan,' 'seek,' 'continue,' 'target,' 'goal,' 'would,' or their negative variations or similar expressions identify forward-looking statements, but their absence does not mean that a statement is not forward-looking.

Examples of forward-looking statements include, among others: statements regarding the Group's near term and longer term future  capital requirements and ratios, level of ownership by the Irish Government, loan to deposit ratios, expected impairment losses, the level of the Group's assets, the Group's financial position, future income, business strategy, projected costs, margins, future payment of dividends, the implementation of changes in respect of certain of the Group's pension schemes, estimates of capital expenditures, discussions with Irish, United Kingdom, European and other regulators and plans and objectives for future operations. Such forward-looking statements are inherently subject to risks and uncertainties, and hence actual results may differ materially from those expressed or implied by such forward-looking statements.

Nothing in this announcement should be considered to be a forecast of future profitability, dividends or financial position of the Group and none of the information in this announcement is or is intended to be a profit forecast, dividend forecast or profit estimate. Any forward-looking statement speaks only as at the date it is made. The Group does not undertake to release publicly any revision to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date hereof.

 

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