Citibank's Ruth Wandhöfer is to become a nonexecutive director of Permanent TSB.

Ms Wandhöfer, who will shortly step down from Citibank, where she was managing director and responsible for Citi's regulatory and market strategy, will take up a position on the PTSB board from October.

"Ruth is highly regarded across the banking industry for her in-depth knowledge of the market regulatory and competitive landscape, and, in particular, is acknowledged as one of the foremost authorities on Sepa (the Single Euro Payments Area)," PTSB chairman Robert Elliott said.

Mr Elliot said Ms Wandhöfer's experience of both regulatory and market strategy, together with her insight on innovation, would be an asset to the board.