Bank of Ireland appoints Davy’s Conall Mac Coille as group chief economist

Davy chief economist Conall Mac Coille has been appointed as group chief economist at Bank of Ireland, the stockbroker’s parent company.

He will take up the role in October and fills a position that has been vacant since last year when Loretta O’Sullivan left the bank to take a role as chief economist and a partner with professional services firm EY.

Mr Mac Coille has been with Davy since 2010, having previously spent eight years with the Bank of England and two years with the Economic and Social Research Institute here.

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In his new role, Mr Mac Coille will lead the bank’s group economic research unit and will be its “primary voice” on topics relating to economic opinion, forecasting and analysis.

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“In his role, Conall will work closely with all parts of the group in relation to economic forecasting and market trend analysis,” the bank said in a statement to The Irish Times confirming Mr Mac Coille’s appointment.

“This will support the group’s overall strategic and financial planning and delivery, as well as playing an active role in customer relationship management.”

‘Wealth of talent’

Commenting on the appointment, Bank of Ireland group chief executive Myles O’Grady said: “I am delighted that Conall has agreed to take on the role of group chief economist.

“Following Bank of Ireland’s acquisition of Davy, Conall’s appointment highlights the wealth of talent within the expanded group. He is a respected and well known economic commentator and I know he will continue to be a leading Irish economic voice as he takes up his new role.”

The bank said a new Davy economist, who will work closely with Mr Mac Coille, will be announced in due course.

Bank of Ireland acquired Davy at the beginning of June last year for an for an enterprise value of €440 million.