THE chief executive of Bank of Ireland UK is to step down after securing the top post at subprime lender Provident Financial.
Ian McLaughlin, who was appointed Bank of Ireland UK chief in 2019, will replace Malcolm Le May as chief executive of the Bradford-based lender.
It comes as Provident Financial, historically known as a doorstep lender, announced it will change its 140-year-old name to the Vanquis Banking Group from March.
A graduate of Queen's University, Ian McLaughlin joined Bank of Ireland in 2019 from the Royal Bank of Scotland, where he was a senior director for around seven years. He also held roles with Lloyds Banking Group and Zurich Financial Services.
His move to Provident later this year is still subject to regulatory approval.
The Bank of Ireland 's Northern Ireland operation falls under its UK division. But its branch presence has been more than halved in the past two years, from 28 outlets to just 13.
The chief executive of the Bank of Ireland Group, Myles O’Grady, said Ian McLaughlin had a strong track record as CEO and had been pivotal in the design and execution of strategy.
"Under his leadership our UK business has been significantly transformed," he said.
"I would like to thank him for his commitment and dedication in his role as CEO since 2019.”
Peter Herbert, chair of Bank of Ireland (UK) plc added: “Ian has been instrumental in delivering a step-change in the performance of Bank of Ireland UK.
"During his time in role he has also strengthened the leadership team of the Bank. On behalf of the entire board, I would like to wish him every success in his next role.”
