STATE-OWNED Anglo Irish Bank has appointed former Citigroup banker Peter Rossiter as its new chief risk officer. Mr Rossiter (53) – who has 27 years of experience working for Citigroup – is the second external candidate to be appointed to Anglo’s new executive management team. He will take up his new role on November 2nd.

Last month, the position of chief executive was also filled by an outsider, Australian banker Mike Aynsley. Mr Rossiter replaces Peter Butler – the former head of Anglo’s wealth management division – who has held the position of chief risk officer in an acting capacity since the resignation of Willie McAteer last January over the controversy surrounding secret directors’ loans.

Anglo’s chairman Donal O’Connor said an international recruitment process was followed in filling the position. It is understood the bank’s board recommended Mr Rossiter to the Department of Finance as its preferred candidate and that the department and the Financial Regulator approved the appointment.

“This represents another important step in establishing a management team that will lead the bank in meeting the considerable challenges we face,” Mr O’Connor said. The bank, which was nationalised in January, has been plagued by major scandals such as the back-to-back deposits worth € 7.5 billion with Irish Life Permanent and a secretive share transaction involving a 10 per cent stake in the bank.

Originally from Ireland, Mr Rossiter has held senior risk management roles for Citigroup in Moscow, Istanbul, Brussels and London. His most recent position was chief risk officer of Citi Handlowy in Poland, a subsidiary of Citigroup.