First Active chief executive Mr Cormac McCarthy will be appointed to the most senior position at the enlarged Ulster Bank Group.
His First Active colleague Mr Michael Torpey will join him as finance director.
Current Ulster Bank chief Mr Martin Wilson will become deputy chairman, while Richard Houghton, the current Ulster Bank financial director, will remain as an executive with responsibility for the integration of the two businesses.
Half of the eight non-executive First Active directors will be appointed to the new Ulster board.
Following its takeover by Royal Bank of Scotland, First Active will delist from the Irish Stock Exchange on January 2nd, 2004.
An extraordinary general meeting of First Active shareholders will consider the resolutions necessary to effect the acquisition on November 27th. The takeover has been approved by theIrish Financial Services Regulatory Authority.
Royal Bank of Scotland offered €6.20 per share for First Active, which values the deal at €887 million. This represents a premium of higher than 150 per cent on the share price when First Active demutualised in 1998.