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O'Grady to return to Bank of Ireland as CEO - Irish Times

·1-min read
Woman walks past the Central Bank of Ireland in Dublin

DUBLIN (Reuters) - Bank of Ireland's board has selected the group's former chief financial officer Myles O'Grady to become its next chief executive, just months after he left the lender, the Irish Times reported on Tuesday, citing unnamed sources.

Francesca McDonagh, who was named chief operating officer at Credit Suisse last week, announced in April that she would step down as Bank of Ireland CEO, around the same time O'Grady left to join Irish food group Musgrave.

The bank, Ireland's largest by assets, blamed state-imposed curbs on bankers' pay and bonuses for O'Grady's exit.

His appointment as CEO is subject to gaining regulatory clearance from the European Central Bank and Irish Central Bank, the Irish Times said.

A spokesperson for Bank of Ireland said the bank would not comment on the report as the process was ongoing.

(Reporting by Padraic Halpin; Editing by Kirsten Donovan)