Royal Bank of Scotland has initiated a major restructuring at Ulster Bank moving senior executives into new roles to mirror the structures at its new parent. In the first round of reorganisation, Mr Paddy McMahon, chief executive, Ulster Bank Capital Markets, moves to take up the role of deputy chief executive. Group chief executive, Mr Martin Wilson, retains that role.

The bank's chief executive of its retail and business banking arm, Mr John McNally, takes over as the head of its corporate and treasury services, which includes NCB Stockbrokers. Mr Tony McArdle, Ulster Bank's chief operations officer, takes responsibility for its retail banking operations.

A number of other management changes are imminent as Royal Bank of Scotland seeks to put its imprint on the bank which it took over early this year. Royal Bank of Scotland acquired control of Ulster Bank through its takeover of NatWest.

The reorganisation is part of a wider initiative to merge NatWest's operation with Royal Bank of Scotland. The bank's chief executive, Mr Fred Goodwin, has been telling investors that the integration of the two banks is continuing apace.

ICS Building Society has announced the appointment of Mr Pat McDowell as chairman of the society. Mr McDowell has been a board member since 1991 and up until his retirement this year held the position of deputy group chief executive with Bank of Ireland group. He succeeds Mr Pat Molloy who retires from the board after 13 years as chairman.

Goodbody Stockbrokers has appointed Mr David Lowe as director of business development. He moves from head of research which will be taken on by Mr Colin Hunt.