Bank of Ireland names govt banking chief as treasury head

DUBLIN Wed Jan 16, 2013 7:49am EST

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DUBLIN Jan 16 (Reuters) - Bank of Ireland has appointed the head of banking at the country's finance department as the new chief executive of its corporate and treasury division, it said on Wednesday.

Michael Torpey, who has overseen a sweeping recapitalisation of Irish banks and managed the state's shareholdings across the sector, will join Bank of Ireland in March.

Bank of Ireland, which saw its exposure to the government cut last week through the sale of 1 billion euros ($1.3 billion) of contingent capital, said acting treasury head Denis Donovan would continue as head of its non-core division.

"I welcome Michael Torpey to the group where I know that his vast experience of the banking sector and his in-depth knowledge of Bank of Ireland will contribute greatly to our dealing with the challenges and opportunities ahead," Chief Executive Richie Boucher said in a statement.

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