Bank of Ireland

Bank CEO to step down this year

The Bank of Ireland has announced that its group CEO will step down before the end of 2017.

Richie Boucher will continue in his role until the bank completes its selection process for his successor, at which point he intends to leave his current post and resign as a director.

Archie Kane, governor of the Bank of Ireland, said: “We will be very sorry to see Richie leave Bank of Ireland and are extremely grateful to him for his service over the years.

“He has demonstrated extraordinary and exemplary personal commitment to the group and has brought to everything he has done a clarity of direction and unrelenting focus.

“The group has been recapitalised, has fully repaid the Irish taxpayer the amount the state invested in it with a cash profit and faces the future in a robust and profitable position.”

Mr Boucher joined the Bank of Ireland from RBS in 2009.

He formerly served as president of both the Institute of Banking in Ireland and the Irish Banking Federation.

Mr Boucher added: “I have made this decision from the fortunate position of enjoying my job and being excited about the next stage in our group's development, including the transformational investment which is underway in our infrastructure to support our customers and the group, not just for tomorrow, but for future generations.

“However, I will be 59 in August of this year and I feel it best for the group that someone else leads the group's next stage of development.

“This has influenced my decision to retire from the group at this time, and to focus on the other things which I might like to do with my life.”

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