Ulster Bank has announced a new management line-up following its €887 million merger with First Active.

The eight-member executive team was appointed by Mr Cormac McCarthy, chief executive of the expanded bank, who had held the same post in First Active.

Two of the appointees are former First Active executives: Mr Bobby Bergin, previously company secretary of First Active and now in charge of corporate affairs and legal services; and Mr Des Fitzgerald, head of First Active retail. The other appointees have a background in Ulster Bank and include Mr Richard Houghton, Ulster Bank's former finance director, who now heads its new integration office, and Mr John McNally, corporate banking and financial markets, Ulster Bank, including First Active commercial.

Mr Mike Bamber, Ulster Bank retail, Mr John West, director of manufacturing, Mr John McDonnell, group risk management, and Mr Graham Lee, group human resources, all retain the same positions within the enlarged bank.

Mr Michael Torpey, First Active's finance director, was named group finance director before Christmas.

Mr Tom Reid, Ulster Bank's director of change management, who had announced his retirement prior to the acquisition, will stay on as a director until March 31st, 2004.

Staff at Ulster Bank, a member of the Royal Bank of Scotland Group, were informed of the appointments yesterday.

Meanwhile, Bank of Ireland and the UK Post Office Ltd have announced five senior management appointments to a new joint venture that will market a range of banking and financing services through British post offices.

These include Mr Ronnie Flynn of Bank of Ireland Life who has been appointed head of sales in the venture and Mr Tim Dinneen, formerly involved in the bank's retail and Banking 365 areas, head of operations.