Britain's Tesco Bank names Ulster Bank chief as CEO

* Mallon to join from Ulster Bank in July

* Iain Clink to serve as interim CEO at Tesco Bank

* 'Young and energetic' Mallon to target growth- analyst (Adds bank confirmation, details, analyst comment)

By Lawrence White and Emma Rumney

LONDON, Jan 24 (Reuters) - Tesco Bank has named Ulster Bank Chief Executive Gerry Mallon as its new CEO, the bank which is owned by Britain's biggest retailer Tesco (Frankfurt: 852647 - news) said on Wednesday.

Mallon will take up his job towards the end of July 2018, Tesco Bank said, replacing Benny Higgins who is due to retire in February.

"Electing a young and energetic leader to target growth across the domain of financial services product in a world of burgeoning open access to banking data would seem to us to be a sensible move," analyst John Cronin at Irish broker Goodbody said about Mallon's appointment.

Iain Clink, Tesco Bank's deputy chief executive, will serve as its interim CEO from March 1 until Mallon joins in July, Tesco Bank said.

Ulster Bank, owned by Royal Bank of Scotland (LSE: RBS.L - news) , earlier confirmed Mallon's departure and said he would remain with the Irish bank while a replacement is identified.

Founded in 1997 as a joint-venture with the Royal Bank of Scotland, the Tesco Bank came under Tesco ownership in 2008.

The bank has grown since then and makes annual profits of 200 million pounds ($281.78 million) and serves 8 million bank accounts, mainly through outlets in Tesco supermarkets.

($1 = 0.7098 pounds) (Reporting by Lawrence White and Emma Rumney; editing by Jason Neely and Jane Merriman)