Ulster Bank has appointed Philip Nolan as chairman, following the decision of Sean Dorgan to step down.

Making the announcement yesterday, Chris Sullivan, RBS Corporate Bank chief executive with responsibility for Ulster Bank, thanked Mr Dorgan for his professional contribution and personal commitment to the bank over the past few years.

“Dr Philip Nolan brings a wealth of commercial experience to Ulster Bank and has served on our board for over six years,” Mr Sullivan said. “I look forward to continuing to work with Philip in building a really good bank.”

Dr Nolan, who served as chief executive at Eircom, is also chairman of John Laing and Affinity Water, and is a non-executive director of Providence Resources and EnQuest. He is also the chairman of the Irish Management Institute.

Dr Nolan who took over as chief executive of Eircom after its acquisition in 2002 by Sir Anthony O’Reilly’s Valentia consortium, led the company through its return to the stock market in 2004.