Cormac McCarthy, the former CEO of Ulster Bank and before that First Active who reinvented himself as a corporate adviser and non-executive director after the financial crisis, has died aged 58. Instead, in 2004, McCarthy engineered a merger with the much larger and already diversified Ulster Bank, the third biggest bank in the country, which was owned by Royal Bank of Scotland in the UK. “I know many colleagues, including myself, worked with Cormac personally, during his time in First Active, Ulster Bank and RBS, and knew him very well,” said Ulster Bank CEO Jane Howard in a statement to staff. He was held in high regard and we will remember his drive, determination and leadership.”In the last eight years, McCarthy devoted significant time to promoting UCD’s fundraising and outreach arm as chairman of UCD Foundation. “Cormac showed exceptional leadership in filling the role of Chairman and we would like to pay tribute to his contribution to the UCD Foundation and his determination for the Foundation to put good governance front and centre of everything we do.

Source: Irish Independent July 06, 2021 20:03 UTC