RICHARD Donnan is to leave his role as head of Ulster Bank in Northern Ireland to pursue new interests, the business has confirmed.
Mr Donnan (49) has spend 30 years in banking, and has been Ulster's managing director of corporate and commercial and head of NI since 2015.
Under his guidance the bank has effectively recovered from the financial crash of the late 2010s, and last year generated a profit before tax of £51m, up by more than 80 per cent in just two years.
He has also been the face of the bank's continuing sponsorship of the Balmoral Show, and among other notable changes during his time at the helm, he oversaw the launch of the Ulster Bank Entrepreneur Accelerator and its move from a base at Lombard Street into the bank's main Belfast headquarters.
He was also instrumental in the biggest cash shake-up in 40 years when Ulster Bank switched production of its £5 and £10 notes to more secure and durable polymer material, as well as turning the notes to a vertical orientation.
Mr Donnan said: “It’s been a great privilege to work with so many talented people and businesses right across Northern Ireland. Ulster Bank has been part of my life for 30 years, and while I’m looking forward to what comes next, I’m proud to leave behind a much stronger and safer bank, one that is focused on doing the right thing and providing help for what matters to our customers.”
He will remain with the bank over the coming months and will work with his successor Mark Crimmins to ensure a smooth transition of responsibilities.
Mr Crimmins, currently regional managing director for business banking in Northern Ireland and Scotland, will assume control of all business, commercial and corporate banking, as well as engaging with external stakeholders.
A member of Chartered Accountants Ireland and a former vice-president of the Newry Chamber of Commerce, he started his career in accountancy and has over 20 years’ experience with Ulster Bank and the Royal Bank of Scotland in a variety of business banking and leadership roles across Ireland and Scotland.
He said: “Ulster Bank exists to serve the communities in which we operate, whether that’s helping people own their own home or grow their business, and we will continue to improve the ways that we do this. I’m very much looking forward to the role and continuing the great work that’s being done by colleagues across our business.”
Paying tribute to his successor, he said: “Richard has provided exemplary leadership for the bank, helping to make it into a strong, safe and profitable business that supports all aspects of the Northern Ireland economy and we wish him well as he pursues interests outside of banking”.
