Ulster Bank’s new chairman in the Republic, Ruairí O’Flynn, has quit the role after less than two months, citing “personal reasons”. The review is also looking at other options for Ulster Bank in the Republic, including a potential tie-up with another lender. The move has been in train for some time and is entirely separate from the review of the future of Ulster Bank in the Republic. NatWest, formerly known as Royal Bank of Scotland (RBS), formally split Ulster Bank’s operation in the Republic from Ulster Bank Northern Ireland in 2015. RBS inherited Ulster Bank and an exposure to the Celtic Tiger economy in 2000 through its takeover, under then group chief executive Fred Goodwin, of National Westminster.

Source: The Irish Times November 13, 2020 16:18 UTC