Permanent TSB has announced two new non-executive directors.

Julie O'Neill is a former secretary general of the Department of Transport and since 2009 has provided strategic management consulting services. She is a non-executive director of Ryanair and currently serves on the board of the Sustainable Energy Authority of Ireland and the Irish Museum of Modern Art

Richard Pike has extensive experience working with financial institutions helping them to manage enterprise risk more efficiently while effectively addressing financial services industry regulations, guidelines and standards.

Chairman Alan Cook said that the appointments were part of the group's ongoing process of board refreshment.

“Julie’s experience in the public sector arena and Richard’s in the financial services risk and regulatory area will be invaluable to the group,” he said.

Meanwhile Pat Ryan, a former banker with AIB and a director of the group since 2009, is to retire from the board at the forthcoming group AGM on Wednesday May 21st 2014.