In March 2023, at the end of the financial period, the IBCB Board comprised of fourteen Directors in total, with the majority being non-bank. In addition to the Chair and CEO, there were seven non-bank Directors drawn from across Irish society. Three Directors represented the interests of Consumers, two others represented other bank customers – most notably SMEs and Farmers. There is a Director drawn from the Financial Services Union, acting as a voice for staff and a Director who is a leading academic with expertise in corporate governance and culture. In addition to these seven Directors, each of the member banks of the IBCB were represented on the Board by Senior Executives from each respective institution, all of whom, at a minimum, reported to the CEO. This senior representation ensured that the IBCB had direct access at the highest level in our member banks. The diverse representation on the Board ensured diversity of thought and perspective. 

Since the end of reporting period the Board has had some changes:

  • Ulster Bank concluded its membership of the IBCB in March 2023. Elizabeth Arnett, Director of Corporate Affairs, Ulster Bank, resigned from the Board in conjunction with Ulster Bank withdrawing from the Irish market. 
  • Lavinia Morris, COO, KBC, resigned from the Board following her resignation from KBC in March 2023. Fergal O’Riagain was appointed to the IBCB Board in April 2023 in her place, when KBC’s IBCB membership came to an end.
  • Jim O’Keeffe, Managing Director, Retail Banking, AIB resigned from the Board in June 2023 and a replacement board member representative for AIB will be proposed to the board for approval in September.  
  • Ger Mitchell, Group HR Director, PTSB, resigned from the Board in June 2023 and was replaced by Eamonn Crowley, CEO, PTSB. 
  • Philip O’Leary resigned from the Board in August 2023 due to his appointment by the Government as a Judge of the District Court.

Philip and Ger were both Directors on the Board since the inception of the IBCB. Lavinia joined the board shortly after the inception in September 2019. Elizabeth replaced Ulster Bank CEO Jane Howard on our Board in September 2021. Jim O’Keeffe replaced Robert Mulhall on our Board in July 2022. The Chairman and fellow Directors on the Board would like to thank each of them for their contributions to the Board and various working groups established by the IBCB which they were involved in. Full details for all Directors are set out on the following pages.

In line with good Corporate Governance practice, the Board are supported in the execution of their duties by a Board Audit and Risk Committee (BARC) and a Remuneration Committee (RemCo). Competition Law Guidance is provided via a dedicated Competition Lawyer at relevant Board meetings.

Throughout the reporting period, the Board held nine Board meetings, both scheduled and out of course, with three Audit and Risk Committee meetings and one Remuneration Committee meeting. 

Topical updates and relevant Company Law matters are covered by the Board’s Company Secretary. Given the diverse nature of the Board, with some members drawn from the banking industry, and the majority coming from outside, education on relevant topics relating to the overall banking sector is an ongoing area of focus. Over the last year, speakers at our Board meetings have included Colm Kincaid, Director of Consumer Protection from the Central Bank of Ireland (CBI), Michael McGrath, Minister for Public Expenditure and Reform (currently the Minister of Finance), Brian Hayes, CEO, Banking and Payments Federation Ireland (BPFI), and Dr. Martin McAleese, the patron of the IBCB. Going forward, in addition to training, the Board intend to invite other stakeholder representatives to speak at Board meetings, to ensure a wide range of views on the sector are sought and listened to.

Board Members