18 Jan - Statement by Permanent TSB
Permanent TSB is undertaking a reorganisation of the bank’s ExCo (Executive Committee) which is the senior team responsible for the day-to-day management of the Group.
Summary of Key Changes
- A new Group Director of Operations role is being created that will lead the development of the AMU and Operations function.
- A new Chief Technology Officer role is being created that will focus on our technology, capability and customer offerings to deliver our strategy.
- The Distribution function has been reshaped to include Branch, Intermediaries, SME and Voice and Digital Sales to support an increased emphasis on customer focused commercial delivery.
- The Chief Risk Officer (Stephen Groarke) now represents Credit at ExCo.
The bank is undertaking a recruitment process for the new Group Director of Operations and new Chief Technology Officer roles.
Separately, the current Chief Operating Officer, Toby Clements, notified the Group before Christmas that he plans to leave in the coming months.
Speaking today, Group Chief Executive, Jeremy Masding, paid tribute to Toby; “I was lucky enough to persuade Toby to return to Ireland from the UK when I joined the bank in 2012 and he has been a key part of my management team since then. He has made a fantastic contribution to the rebuilding of Permanent TSB and we are indebted to him. His achievements with the Group are many and I have no doubt he will enjoy continued great success in the future.”
Speaking on the ExCo reorganisation, Mr. Masding said that it was being undertaken to reflect how the Group was evolving; “Our original ExCo was set up at a particularly critical time to deal with the huge challenges then facing the Group as it set about its recovery. As we’ve made huge progress on that agenda, it’s appropriate to revisit the ExCo structure and ensure that it reflects our current focus which is very much on the commercial agenda and positioning the bank as a key challenger bank in the retail and small SME markets here in Ireland.”
Issued on behalf of permanent tsb by Gordon MRM