Bank of Ireland

The bank announced to its shareholders after the close of trading on Tuesday that Ms McDonagh is leaving her role and will also step down from the bank's board.

Ms McDonagh recently said she expected the bank to be back fully in private ownership by next year. Ms McDonagh’s exit comes as the State continues to slowly sell down its stake in the bank by drip-feeding shares into the stock market. In February, the bank reported a net profit of €1.05 billion for 2021, compared to a loss of €707 million for 2020. Ms McDonagh was paid close to €1 million in 2020, the most recent year for which her salary details are available. KBC and Ulster Bank are both exiting the Irish market, creating uncertainty for hundreds of thousands of customers. She will leave the bank by September for, it is understood, another job with another European financial institution.

The Minister for Finance Paschal Donohoe TD, notes today's announcement by Bank of Ireland Group Plc regarding the intention of Ms Francesca McDonagh to ...

Ms McDonagh joined Bank of Ireland in October 2017 as Group Chief Executive Officer having worked for HSBC for many years in a number of roles spanning various countries. The Minister for Finance Paschal Donohoe TD, notes today’s announcement by Bank of Ireland Group Plc regarding the intention of Ms Francesca McDonagh to step down as Chief Executive and Director. This website uses cookies to collect information about how you use this site.

BANK OF IRELAND has announced that chief executive Francesca McDonagh will leave the company in the autumn. McDonagh is currently group CEO and executive ...

Five years ago, we set out to transform the Bank’s culture, systems and business model. “Bank of Ireland has prospered under Ms McDonagh’s leadership ensuring that the Bank continued to play its role as a vital supporter of economic growth and jobs in Ireland. BANK OF IRELAND has announced that chief executive Francesca McDonagh will leave the company in the autumn.

Bank of Ireland has announced that Francesca McDonagh is to step down as Group Chief Executive Officer. In a statement, the bank said Ms McDonagh is ...

"Bank of Ireland has prospered under Ms McDonagh's leadership ensuring that the bank continued to play its role as a vital supporter of economic growth and jobs in Ireland," Minister Donohoe said in a statement. Minister for Finance Paschal Donohoe, who is responsible for banking policy, thanked Ms McDonagh for her "commitment and professionalism" throughout her time in Bank of Ireland, and wished her success in the future. However, the Bank of Ireland CEO has in recent years persistently highlighted the difficulties that the pay restrictions are having on attracting and retaining staff in the bank and the sector. During her five-year tenure at Bank of Ireland, Ms McDonagh has led the bank through a period of significant change and restructuring, including the Covid-19 pandemic. "Francesca has been an exceptional chief executive of Bank of Ireland," Patrick Kennedy, Bank of Ireland Chairman said in a statement. In a statement, the bank said Ms McDonagh is expected to leave the bank this September. It said a process to appoint her successor will now begin.

Bank of Ireland today announced Francesca McDonagh is to step down as CEO and as a director of the bank.

Along with agreeing two transformative acquisitions, she has delivered a more efficient, digitally-enabled, customer-focussed and profitable bank. A process to appoint her successor will now commence. Bank of Ireland Chairman, Patrick Kennedy, stated: “Francesca has been an exceptional chief executive of Bank of Ireland. Since taking up the position in 2017, she has driven – with ambition and commitment – a clear strategic focus on transformation, service improvement, and business growth.