Permanent TSB has appointed Eamonn Crowley as its new chief financial officer. He will take up his role in March and will be proposed for appointment to the group's board at its annual meeting in May.
Mr Crowley (47) has held the same role with former AIB subsidiary Bank Zachodni WBK in Poland since 2011. The Polish bank was once considered to be the jewel in the crown within the AIB group, but the Irish bank was forced to sell its 70 per cent stake in the business in 2010 following its €20.8 billion taxpayer bailout. It is now part of Banco Santander.
Prior to taking on that role, Mr Crowley was chief operating officer for AIB’s central and eastern European division and held other roles with AIB in Poland dating back to 2002. He joined AIB in 1994 and is an ACCA-qualified accountant.
Merger
During his period as chief financial officer in Poland, Mr Crowley executed the merger of BZ WBK with Kredyt Bank to form Poland's number three bank; placed more than 20 per cent of the bank on the Warsaw Stock Exchange through a €1.2 billion secondary share offering; and led the acquisition of a controlling stake in the country's number one consumer bank.
Commenting on the appointment, Jeremy Masding, group chief executive of PTSB said: "Having secured the future of the group over the past five years, our over-riding focus is now on growing our market presence and ensuring our success as a key force for competition in the Irish market. Eamonn will play a crucial role in this exciting next phase for the group."
Mr Crowley said he was excited to be joining the group. “The bank has an outstanding heritage in the Irish banking market and I have every confidence that we will build a strong, competitive platform for the business in Ireland for the benefit of our customers and, ultimately, our owners.”
PTSB, which is 75 per cent State-owned, has been without a full-time chief financial officer since late 2015 when Glen Lucken departed the bank. Patricia Carroll of KPMG has filled the role on an interim basis since October 2015.
