PTSB commercial director departs after two years in role

Permanent TSB's group commercial director Mark Coan is to leave the bank after two years in the role.

Staff at PTSB have been informed that Mr Coan will leave the business on October 1st. He joined the bank in August 2016 with a mandate to help transform its commercial performance after a number of difficult years following the 2008 global financial crash, which resulted in PTSB being bailed out by taxpayers. The State continues to own 75 per cent of the bank.

Mr Coan is credited with having overhauled the bank’s marketing strategy, with helping to bring new products to market, and with enhancing its digital capabilities.

PTSB has increased its new lending from under €600 million in 2016 to more than €1 billion today, while its share of mortgage lending has grown from about 8 per cent to 14 per cent.

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It is understood that Mr Coan will seek opportunities in other business-to-consumer roles here. He previously worked for almost 16 years with cable TV and telecoms provider Virgin Media (previously known as UPC and NTL), latterly as vice-president of consumer. Other roles included product development, sales and marketing, and digital.