Bank of Ireland appoints Mark Spain as chief financial officer

Bank of Ireland has appointed Mark Spain as group chief financial officer and executive director. He replaces Myles O'Grady, who is stepping down from the role on Thursday. Mr Spain was appointed chief strategy officer and member of the group executive committee in 2019.

As chief strategy officer, he led the delivery of a number of important initiatives, including the group's strategy refresh process, the successful bid for Davy and the agreement to acquire the KBC Bank Ireland portfolios last year.

Mr Spain joined the group in 1998 as a client advisory director in IBI Corporate Finance. He became director of group investor relations in 2013, followed by director of group finance in 2016. He has previously worked for Diageo plc and KPMG.

Bank of Ireland said Enda Johnson will take over responsibility for group strategy, in addition to his current transformation responsibilities, becoming chief strategy and transformation officer.

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Prior to joining the group in February, Mr Johnson was interim chief financial officer at Virgin Money, having previously served as group corporate development director where he oversaw Virgin/CYBG’s strategy development and acquisition activity.

Prior to joining CYBG, he held senior roles in AIB, the National Treasury Management Agency and Merrill Lynch.

Transformational period

Francesca McDonagh, Bank of Ireland group chief executive, congratulated both men. “Mark is taking up this role during a transformational period for the Bank of Ireland group,” she said.

“He brings to the role his depth of understanding in relation to the group’s strategic and financial progress and targets, along with his significant experience in strategy development and delivery, transformation, and mergers and acquisitions.

“As Mark moves to the CFO role, I am pleased that Enda Johnson will take over responsibility for group strategy, becoming chief strategy and transformation officer.

“Mark and Enda’s understanding and experience will strongly support the group in delivering on its ambition, purpose and strategic priorities over the period ahead.”