The chief executive of Bank of Scotland (Ireland) has resigned after heading the bank for 16 years. He said the sale of parent company HBOS to Lloyds TSB presented him with a “natural point” to leave.
"There is no story or big reason, just a personal desire to take some leave and do something else," he said.
Mr Duffy had been in discussions with the bank, which trades as Halifax in Ireland, since the end of last year about leaving.
He will stay on until April to allow for his successor Joe Higgins, currently head of mortgage lending at HBOS, to take over.
Mr Duffy has often voiced criticism of Irish banking, hitting out at anti-competitive practices and lack of value for customers.
His resignation coincides with the launch of two major reports into the sector, which has been mired in controversy in recent months.