# O’Grady to return to Bank of Ireland as CEO – Irish Times
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-08-30
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Bank of Ireland selects former CFO as new CEO
Meta Description: Bank of Ireland names Myles O'Grady as CEO after Francesca McDonagh steps down. Appointment subject to regulatory clearance from ECB and Irish Central
URL: https://financedigest.com/ogrady-to-return-to-bank-of-ireland-as-ceo-irish-timeshtml

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DUBLIN (Reuters) – Bank of Ireland’s board has selected the group’s former chief financial officer Myles O’Grady to become its next chief executive, just months after he left the lender, the Irish Times reported on Tuesday, citing unnamed sources.

Francesca McDonagh, who was named chief operating officer at Credit Suisse last week, announced in April that she would step down as Bank of Ireland CEO, around the same time O’Grady left to join Irish food group Musgrave.

The bank, Ireland’s largest by assets, blamed state-imposed curbs on bankers’ pay and bonuses for O’Grady’s exit.

His appointment as CEO is subject to gaining [regulatory clearance from the European Central Bank](https://www.financedigest.com/how-banks-can-avoid-regulatory-reporting-mistakes-with-a-good-dose-of-automation.html "HOW BANKS CAN AVOID REGULATORY REPORTING MISTAKES WITH A GOOD DOSE OF AUTOMATION") and Irish Central Bank, the Irish Times said.

A spokesperson for [Bank of Ireland said the bank would not comment on the report](https://www.financedigest.com/bank-funding-for-renewables-stagnates-vs-oil-and-gas-report.html "Bank funding for renewables stagnates vs oil and gas – report") as the process was ongoing.

(Reporting by Padraic Halpin; Editing by Kirsten Donovan)


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