Bank of Ireland lures London banker to head up property and project finance

Bank of Ireland has lured a senior London-based Irish banker to lead up property, project and asset-backed finance as part of a wider overhaul of the firm’s corporate and commercial lending division.

Unit chief executive Gavin Kelly, who took over running the division in March, said in an email to staff that he had appointed Wicklow-born John Feeney to the new role. Mr Feeney is a former London-based head of European banking with Mizuho Bank and one-time head of global corporates at Lloyds Banking Group.

He had also previously worked for Henderson Global investors and Bank of America Merrill Lynch (now BofA Securities), the latter of which included roles in Singapore and Tokyo.

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Bank of Ireland’s corporate and commercial banking unit was known as corporate banking and markets before it was renamed last week.

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Mr Kelly’s leadership team also includes Michael Lauhoff being appointed to the expanded role of head of corporate and SME banking, and Kevin Twomey, previously head of global markets, widening his brief as head of customer products and solutions.

Elsewhere, Susan Brown, who has been with the bank for more than two decades, has been named as head of strategic transformation and operations, while Paul Coyle is moving from the group risk department to Mr Kelly’s division to become head of risk governance and oversight.

The corporate and commercial banking unit had €27.1 billion of loans at the end of July – or a third of the Bank of Ireland’s total loan book – and was by far the most profitable of the group’s four operating divisions in the first half of this year, according to the bank’s latest financial report.

[ Bank of Ireland announces interest rate rises for savers ]

The unit recorded €968 million of operating profits for the period, compared to €729 million at Retail Ireland, €326 million at Retail UK, and €184 million for the wealth and insurance business, which included New Ireland and Davy.

“The recent amalgamation of the group’s corporate, markets and business banking teams brings an opportunity to simplify our business and build even stronger relationships with our customers, while continuing to ensure our long-term sustainability,” said Mr Kelly in the staff email.