Bank of Ireland business chief Mark Cunningham to step down

Bank of Ireland's director of business banking Mark Cunningham is leaving following a 30-year career with the lender. The news comes as current chief executive Richie Boucher prepares to step down from the bank's helm in October.

Liam McLoughlin, chief executive of the bank’s Irish retail arm, told staff in a note on Wednesday that Mr Cunningham had informed him of his decision to step down. He is due to leave in September.

It is understood Mr Cunningham had been considering the move for a number of months. He worked closely with Mr Boucher, and was appointed to his current role shortly after the outgoing chief executive took on that position.

Mr Cunningham does not have any immediate plans, but it is thought likely he will take up other opportunities in coming months.

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Mr McLoughlin noted that Mr Cunningham worked in a number of senior jobs during his time at Bank of Ireland.

Private banking

As well as his current post as director, business banking, he was managing director of private banking, and worked with both Bank of Ireland Asset Management and OBI.

Mr Cunningham was appointed director of business banking in 2009 as the recession was beginning to take its toll.

Mr McLoughlin thanked Mr Cunningham for his contribution to the bank. “I also want to take this opportunity to wish Mark every success in the next phase of his career.”

Michael Lauhoff, head of business banking and growth, will succeed Mr Cunningham. He was previously commercial branch manager and regional manager northwest.

Francesca McDonagh will succeed Mr Boucher when he leaves in October.