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PTSB finance chief Nicola O’Brien quits for ‘new role’

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Official played key role in acquisition of billions of euros of loans from Ulster Bank

PTSB has said its chief financial officer, Nicola O’Brien , has handed in her notice and plans to leave “in the coming months to take on a new role”.

The bank did not say where Ms O’Brien, who has been in the position for the past two years and with PTSB since early 2017, is moving to. Analysts estimate PTSB could also free up €270 million of expensive capital on its balance sheet as a result of the work, subject to regulatory approval.Irish innovator helping elite sports teams predict injuries and prolong careers

The move also comes as PTSB and AIB remain subject to executive pay restrictions introduced during the financial crisis. All three remaining Irish banks, including Bank of Ireland, in which the State no longer holds shares, are also effectively prohibited for paying bonuses in excess of €20,000 to employees.

 

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