Bank of Ireland has appointed Kevin Twomey as chief executive of its global markets division, with effect from April 1st. He will replace Austin Jennings, who is retiring from the bank after serving 10 years in the role.

John Moclair will replace Mr Twomey as head of global customer group within the global markets unit.

As head of global customer group, Mr Twomey was responsible for global markets’ domestic and international customer businesses. He has also been a member of the bank’s group credit committee and its group pension investment committee since December 2009.

Before joining Bank of Ireland, he worked at the Bank for International Settlements in Switzerland for eight years.

Mr Jennings had 30 years treasury experience and began his career with Bank of Ireland in 1988, having worked for four years with Citibank’s treasury division.

Global markets transacts in a range of market instruments on behalf of both the bank and its customers. The activities include transactions in inter-bank deposits and loans, foreign exchange spot and forward contracts, options, financial futures, bonds, swaps, forward rate agreements, and equity tracker products. It also manages the bank’s liquid asset portfolio.