Bank of Ireland has moved quickly to appoint a new chief executive, following the sudden resignation of Mr Michael Soden last weekend.The bank said last night that Mr Brian Goggin would take over as group chief executive, writes Siobhan Creaton, Finance Correspondent.
Mr Goggin (52) was widely tipped to get the job and the announcement followed a meeting of the board of directors last night. Mr Goggin's appointment had been recommended by a nominations committee, a sub-committee of the board yesterday.
It is understood that several internal candidates were interviewed for the job. The post attracted a total remuneration package of around €1.5 million, including pension and bonuses, last year.
Mr Soden resigned after he was found to have accessed a website which had links to material of an adult nature.
It is understood that the bank was anxious to move quickly to replace Mr Soden as it was felt the uncertainty would not help the company's share price.
Mr Goggin's appointment comes at a time when public confidence in the banking sector has been seriously eroded, following a series of scandals concerning overcharging and tax issues regarding offshore investment vehicles.
Mr Goggin is a career banker who was a candidate for the post two years ago when he lost out to Mr Soden. He is currently chief executive of the bank's wholesale financial services division.
Bank of Ireland is one of Ireland's top two banks and employs more than 18,000 staff.
B of I moves fast to replace chief executive; Second time lucky as Goggin takes top job: Business This Week