Cormac McCarthy, the former CEO of Ulster Bank and before that First Active who reinvented himself as a corporate advisor and non executive director after the financial crisis, has died aged 58. He was one of the youngest bank CEO in Ireland at just 36 when he took the top job at First Active during the building society’s demutualisation and helped engineer a merger with Ulster Bank in 2004. Like other senior boom era bankers Cormac McCarthy left the sector following the crash. “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. "Cormac led the bank during a period of significant change both in the Bank and in Ireland in general, and he always brought great energy to the table.

Source: Irish Independent July 06, 2021 18:33 UTC