Former Danske Bank boss Gerry Mallon to take up role as head of Tesco Bank
Belfast man and former Danske Bank boss Gerry Mallon is to take up a new job as head of Tesco Bank, according to reports.
Mr Mallon (48) had been head of Ulster Bank in the Republic for two years, following seven years in the job of chief executive of Dankse Bank. The father of four is a past pupil of Rathmore Grammar School in Belfast. He first studied engineering at Cambridge before turning his hand to economics.
He is also the chairman of the Irish Football Association.
- Danske Bank chief executive Gerry Mallon: 'Instead of coming out as a poor engineer, I left Cambridge as a reasonable economist'
Ulster Bank said that Mr Mallon had informed the board of his intention to leave.
According to Sky News, he is to take up the role of head of Tesco Bank in the UK.
It's understood Mr Mallon will remain in his role while Ulster Bank sources a replacement.
Mr Mallon said his decision was an “enormously difficult one” but that the new role was an“excellent opportunity" both for him and his family.
He said: “I am grateful to the board, executive and staff of Ulster Bank for their unstinting support to me as chief executive and I wish them and the broader group every success for the future."
Ulster Bank Ireland DAC chairman Des O’Shea told the Irish Times: “On behalf of Ulster Bank, I would like to thank Gerry for his contribution at an important time for the bank and for working tirelessly on progressing our strategy.
"Gerry will remain in place until mid year to manage the transition with our board and the Ulster Bank executive committee.”
Belfast Telegraph Digital