Bank of Ireland announces appointment of Michael Torpey as Chief Executive, Corporate and Treasury Division

Bank of Ireland Group announces the appointment of Mr Michael Torpey as Chief Executive of its Corporate and Treasury Division and as a member of the Group Executive Committee.  Mr Torpey, who has held senior positions in the National Treasury Management Agency (NTMA) and subsequently in the Department of Finance as Head of Banking and Head of the Shareholder Management Unit, will join the Bank towards the end of quarter one of 2013.

In his roles in the NTMA and the Department of Finance since May 2010, Michael Torpey has played critical roles in the restructuring of the Irish Banking system including the assessment and monitoring of business, capital, funding and deleveraging plans, inter-acting at the most senior levels with Government, banks, Central Bank of Ireland, European Central Bank, European Union and the International Monetary Fund, investors, ratings agencies and a wide range of other stakeholders.

Michael’s previous roles have included a position as Group Treasurer at Irish Life and Permanent Plc., in 2009-2010, Senior Adviser in treasury matters at the Irish Financial Regulator in 2009, Finance Director, Ulster Bank from 2004 to 2008 and Finance Director in First Active from 2000 to 2004.  Prior to 2000 Michael Torpey had a wide range of roles in the Financial Services industry in Ireland and in the Civil Service.

Denis Donovan, who has been Acting Chief Executive of the Corporate and Treasury Division in addition to his role as Head of Group Non-Core Division, will continue in his Non-Core Division role.

Commenting on the appointment, Group Chief Executive, Richie Boucher said: “I welcome Michael Torpey to the Group where I know that his vast experience of the banking sector and his in-depth knowledge of Bank of Ireland will contribute greatly to the implementation of our business strategies and to our dealing with the challenges and opportunities ahead.  I would also like to thank Denis Donovan for the role he has played in continuing to manage our Corporate and Treasury Division in conjunction with the other responsibilities he has undertaken in recent years in relation to Group Strategy and our deleveraging and restructuring initiatives.”