Dublin, Ireland - April 30, 2015, Dublin, Ireland - Bank of Ireland announced that Patrick O'Sullivan, deputy governor and senior independent director, retired.
Article continues below
From 2007 until 2009, Mr. O'Sullivan was Vice Chairman of Zurich Financial Services Group where he had specific responsibility for its international businesses.
He previously held roles at Zurich as Group Finance Director, CEO, General Insurance and Banking, of its UKISA division and CEO Eagle Star Insurance (London).
Mr. O'Sullivan's prior experience includes positions as Chief Operating Officer, Barclays DE Zoete Wedd Holdings (London); Managing Director, Financial Guaranty Insurance Company (part of GE Capital) (London & New York); Executive Director, Goldman Sachs International (London); General Manager, Bank of America Futures (London) and Chairman of UK Government Shareholder Executive.
Mr. O'Sullivan has extensive international financial services experience gained over a period of more than thirty five years through his positions with Zurich, Old Mutual plc, Man Group plc, Goldman Sachs, Bank of America, Barclays and Eagle Star.
Mr. O'Sullivan is a Fellow of Chartered Accountants Ireland and a former member of the International Accounting Standards Board Insurance Working Group on IFRS.
Patrick Haren, Non Executive Director, succeeds Mr. O'Sullivan as Senior Independent Director with immediate effect.
Mr. Haren is a former CEO of the Viridian Group, having joined Northern Ireland Electricity (NIE) in 1992 as Chief Executive.
He previously worked with the ESB, including as Director - New Business Investment and also served as a board member of Invest Northern Ireland for a number of years.
Mr. Haren led the privatisation of NIE by IPO in 1993 and grown the business under the new holding company Viridian through 2000 to 2007.
He was appointed to the board of Bank of Ireland (UK) plc in June 2012 where he also serves as Chair of the Remuneration Committee and a member of the Nomination Committee.
Mr. Haren was awarded a knighthood in 2008 for services to the electricity industry in Northern Ireland. He is a member of the Institute of Directors (UK).
Mr. Patrick Kennedy succeeds Mr. O'Sullivan as Deputy Governor.
Mr. Kennedy was Chief Executive of Paddy Power plc from 2006 to 2014.
He served as an Executive Director of Paddy Power plc since 2005 and a Non-executive Director since 2004, during which time he served as Chairman of the Audit Committee.
Mr. Kennedy was a member of the Risk Committee of Paddy Power plc from 2006 to 2014.
Prior to joining Paddy Power plc, he worked at Greencore Group plc for seven years where he was Chief Financial Officer and also held a number of senior strategic and corporate development roles.
Mr. Kennedy also worked with KPMG Corporate Finance in Ireland and the Netherlands and as a strategy consultant with McKinsey & Co. in London, Dublin and Amsterdam.
Mr. Kennedy was involved in Paddy Power plc, Elan Corporation plc (where he was Chairman of the Leadership, Development and Compensation Committee and a member of the Transaction Committee), Greencore Group plc and McKinsey & Co. ■