Myles O’Grady returns to Bank of Ireland as Chief Executive

Former CFO of Bank of Ireland Myles O’Grady is set to return as the bank’s next chief executive, according to a report today in the Irish Times.

The news comes months after Mr O’Grady left the bank to take up a role as chief financial officer at retail group Musgrave. He resigned from his new role on Musgrave two weeks ago after working in the role for four months.

He first joined Bank of Ireland in 2019 as Finance Director for Ireland and was appointed Chief Financial Officer in October 2019.

Current CEO Francesca McDonagh will leave the position in October after five years in the role to join Credit Suisse. Ms McDonagh was appointed chief operating officer of the embattled Siwss bank earlier this month.

Ms McDonagh spoke out after news of Mr O’Grady’s proposed departure from the Bank of Ireland last September, blaming the salary cap for Irish bank managers for his decision.

“Myles’ decision to exit the Irish banking sector underscores the challenge that remuneration constraints pose for Irish banks in attracting and retaining talent,” she said in a statement at the time.

A Bank of Ireland spokesman declined to comment on the appointment, according to the report.

The appointment is now subject to review by officials from both the European Central Bank and the Central Bank of Ireland. Myles O’Grady returns to Bank of Ireland as Chief Executive

Fry Electronics Team

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