BANKING VETERAN MYLES O’Grady has been named as the new CEO of Bank of Ireland, replacing interim incumbent Gavin Kelly.

O’Grady will officially take up the positions of Group Chief Executive Officer (CEO) and Executive Director on Thursday this week.

He previously served as Group Chief Financial Officer from January 2020 until March 2022 after joining in June 2019 as Director of Commercial Partnering for Ireland. He was also appointed Group Non-Executive Director at Bank of Ireland (UK) plc and New Ireland Assurance Company plc.

Before Bank of Ireland, he was Director of Finance & Investor Relations in the AIB Group and he held senior positions in Citibank and Dresdner Kleinwort Benson.

Until last month, he was the Chief Financial Officer of the Musgrave Group.

He was also a Director of the Irish Banking Culture Board. 

Bank of Ireland Chairman, Patrick Kennedy said that he is “delighted to welcome Myles back to Bank of Ireland as Group Chief Executive Officer”.

“Myles is an exceptional leader with a strong track record of delivery. The focus of the Board remains on the execution and delivery of the significant opportunities available to the Group,” Kennedy said.

“Myles’ appointment underlines the Board’s commitment to the ongoing successful execution of its existing strategy.”

He thanked Gavin Kelly for serving as Interim Chief Executive Officer, saying he “showed huge commitment and leadership during this period”.

“Gavin will work closely with Myles to support a smooth transition into the role of Group CEO and will remain a key member of the Group Executive Committee.”

A statement from the Bank of Ireland Group announcing the appointment said that “in a career of more than 30 years, Myles has worked nationally and internationally including in senior roles across retail, business and investment banking”.

“He has extensive local market knowledge and deep experience of working with a range of stakeholders including customers, colleagues, investors and regulatory authorities.

“He is also skilled in strategic development and delivery and played an integral role in the Davy and KBC portfolio acquisitions when he was Bank of Ireland Chief Financial Officer.”

Former CEO Francesca McDonagh announced in April that she would resign in September after holding the role since 2017.