NCB Corporate Finance managing director Mr Hugh Cooney is retiring at the end of the month from his position to pursue new interests.
He will be replaced by Mr John Butler who has been with the Ulster Bank owned operation for over 10 years. Mr Cooney who has been head of NCB Corporate Finance for five years will continue to provide consultancy services to NCB until the end of the year.
Mr Cooney (48), said the parting was amicable, adding that he believed "it was an appropriate time to pursue other interests".
He had enjoyed the challenge of building up the corporate finance unit within NCB "but I have reached the point in my career where it makes sense to move on," he said yesterday.
He said he intended to take some time out after working for 27 years before making his next career move. Asked what that would be, he said: "I am ruling nothing in and nothing out at this stage."
An accountant, Mr Cooney joined NCB in 1995 to build up a corporate finance operation. He began his working career in Stokes Kennedy Crowley. In 1983 he set up a corporate restructuring practice, Cooney Corrigan. He was involved in a number of high profile examinerships and restructurings including the Clonmel-based engineering group, Kentz, and TEAM.
NCB managing director Mr Conor O'Kelly declined to discuss the settlement agreed between NCB and Mr Cooney. "It is an agreed settlement which is confidential. But we were very happy to help to arrange a smooth transition for him to make the career change he wants while at the same time protecting the NCB business he has built up," he said.
