Governance - Corporate Information | Ulster Bank

Corporate Governance

Ulster Bank Ireland DAC

 

Ulster Bank Ireland DAC is committed to the highest standards of corporate governance, business integrity and professionalism in all its activities.

The Board is the principal decision-making forum for the company. It has overall responsibility for leading and controlling the company. Our Board approves the strategy and monitors performance. It has adopted a formal schedule of matters reserved for Board discussion that details key aspects of the company's affairs and this schedule is reviewed annually. The Board recognises the value of diversity and has issued a diversity statement.

Find out more about the Ulster Bank Ireland DAC Board committee

Board Committee Overview

UBID Board of Directors is the principal decision-making forum for the company. It has overall responsibility for leading and controlling the company and is accountable to shareholders for financial and operational performance. The Board approves strategy and monitors performance.

UBID Executive Committee manages operational issues material to UBID. The committee considers strategy, finance and budget, capital allocations, risk strategy and policy and risk management.

UBID Risk Committee provides oversight and advice to the Board in relation to current and potential future risk exposures of UBID and future risk strategy, including determination of risk appetite and tolerance.

UBID Audit committee assists the Board in discharging its responsibilities in relation to the disclosure of the financial affairs of UBID.

UBID Remuneration Committee is responsible for the preparation of decisions regarding remuneration, including those which have implications for the risk, and risk management of UBID, taking into account the long-term interests of shareholders, investors and other stakeholders in the institution and the public interest.

UBID Nominations Committee assists the Board in the formal selection and appointment of directors having regard to the overall balance of skills, knowledge, experience and diversity on the Board.

UBID Related Party Lending Committee is responsible for the oversight and approval of lending to related parties as determined by the CBI Related Party Lending Code

 

 

Capital Requirements Directive (CRDIV)

The fourth Capital Requirements Directive (CRD IV) requires an institution such as Ulster Bank Ireland DAC to include a compliance statement on its website in relation to certain articles contained in the Directive. Find out how Ulster Bank Ireland DAC complies with the requirements relating to governance, remuneration and reporting.

 

Executive Directors

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Icon expand Jane Howard – Chief Executive Officer

Jane Howard has worked in the financial services industry for more than 37 years. She has operated at Executive level for the last 14 years in risk management, and leading large scale operations and customer facing businesses. Jane’s previous role, to August 2018, was that of Managing Director, Personal Banking for RBS, one of the largest UK Banks.

Under Jane’s four year leadership, Personal Banking implemented a Financial Health check for customers, reshaped the network so that customers have more physical and digital ways to bank than ever before and launched a professional development programme to enable customer-facing colleagues achieve an externally recognised Professional Banking Certificate.

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Icon expand Paul Stanley – Deputy Chief Executive Officer and Chief Finance Officer

Paul joined Ulster Bank from AIB in August 2013. He was previously the Acting CFO for AIB and a member of its Leadership Team, from 2011. Paul was Interim Chief Executive Officer from August 2015 to May 2016.

 

Non Executive Directors

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Icon expand Des O’Shea - Chairman

Des was appointed to the Board of Ulster Bank Ireland DAC in November 2012 and was elected Chairman 2017. He is also a Non Executive Director of Byblos Bank S.A.L and Pepper Group Limited. In November 2011 he retired from GE Capital after 14 years during which he held a variety of senior roles including Chief Risk Officer, Chief Commercial Officer and Head of Mergers & Acquisitions for GE Money Europe which was GE Capital's largest, most successful and profitable business in Europe. In the period 2008-2011 he was responsible for GE's investments and partnerships in banks in high growth emerging markets such as Turkey, Thailand, Taiwan, Central America and Colombia and served on the Boards of these Banks. He also led a major divestment programme for GE Capital Global Banking.

In 1981-1991 Des worked for Ulster Investment Bank Limited in Corporate Banking and headed up its IFSC activities. He also worked with Woodchester Investments plc, Cambridge Group and Arthur Andersen. Des has a B.Comm Degree from UCC and is a Fellow of the Institute of Chartered Accountants.

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Icon expand Rosemary Quinlan - Non Executive Director, Chair of the Risk Committee, Chair of the Performance & Remuneration Committee

Rosemary is an Independent Non Executive Director, with a career in Financial Services spanning 24 years. She is a Board Director since 2006. She is currently an INED with Ulster Bank Ireland DAC and is a member of the Risk and Audit Committees and chair of the UBID Remuneration Committee. She is also an INED with Royal Sun Alliance Insurance Ireland Limited and is a member of the Risk, Audit and Remuneration Committees, and chairs the Nominations Committee for this Board. During 2016, Rosemary joined the Boards of Prudential International Assurance plc and Dodge & Cox Worldwide Funds plc, as an INED. She was previously the Deputy CEO for HSBC Bank plc in Ireland and the CEO of HSBC Securities Services Ireland Limited. Prior to this, Rosemary held senior executive roles with ABN AMRO, Citigroup and NatWest Bank plc in the Netherlands, the United States and the United Kingdom.

Rosemary holds a BComm from University College Cork, has completed the Chartered Director Programme in Ireland and is a Certified Bank Director.

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Icon expand Martin Murphy - Non Executive Director

Martin Murphy was appointed as a Non Executive Director to the UBID Board in July 2016. In November 2016, he was appointed as Chairman of Hewlett Packard Enterprise Ireland, having previously been CEO.

In 2014, Martin was appointed as a board member to the National Treasury Management Agency and in 2013, was appointed to the chair of the Labour Market Council. He also serves as a board member of the UCD Smurfit Business School and is a former President of the Dublin Chamber of Commerce.

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Icon expand Gervaise Slowey - Non Executive Director

Gervaise Slowey was Chief Executive and Board Director of Communicorp Group Ltd. for four years to the end of 2016, which was one of the largest independent media groups in Ireland, UK and Eastern Europe. Communicorp is the company behind the Newstalk, TodayFM, 98FM, Spin and Appliances Delivered brands in Ireland.

Prior to that she was Global Client Director for Ogilvy Worldwide, a leading communication services agency with over 21,000 employees where she most recently managed Ogilvy’s international Mondelez business across Europe, Asia, and Africa.

During her 15 year tenure with Ogilvy Worldwide (1997 – 2012) she worked extensively in both emerging and established markets on some of the world’s leading brands such as Milka, Toblerone, Coca Cola, Cadbury, and Kimberly Clark.

A Dublin City University Business graduate, Gervaise began her career in 1990 with CPC/Unilever in marketing. Gervaise has been a non-executive director of Eason PLC and its RemCo since 2012. Gervaise also regularly acts as chairperson on senior level appointment and state board director appointment panels for the Public Appointments Service in Ireland.

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Icon expand Richard Holmes - Non Executive Director

Richard Holmes retired in October 2016 from his role as CEO Europe, Standard Chartered Bank, a position he has held since 2008. He led the business in Europe through a period of significant change focusing on Wholesale and Private Banking.

Prior to this, Richard was Chairman and Chief Executive Officer of American Express Bank Ltd., American Express Company’s international banking subsidiary, based in New York. He was elected President and Chief Executive Officer in June 2000 and Chairman in May 2005. Richard joined American Express in 1996 as Managing Director and Head of Worldwide Private Banking, leading the unit through a period of significant expansion.

Richard has more than 35 years experience across a wide range of functions in international banking, having served in finance, operations and financial market positions at Wells Fargo Bank from 1980 to 1987 and at Bank of America from 1987 to 1996 in executive positions in the World Banking Group and Latin America Divisions. From 1993 to 1996 he was an Executive Vice President and Head of Bank of America’s Private Bank.

Richard began his professional career with the accountancy firm Peat, Marwick & Mitchell in 1974. He holds an M.A. and B.A. in Economics from St John’s College, Cambridge University and is a fellow of the Institute of Chartered Accountants in England and Wales.

He was the Chairman of the Confederation of British Industry’s Financial Services’ Council; sat on the Board of the British Bankers Association; and chaired their Audit and Oversight Committee; sat on the Board of Trustees for Asia House;, was a member of the Board of Directors of British American Business;  and The Business Growth Fund; and more recently had joined TheCityUk’s Board.

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Icon expand Dermot Browne - Non Executive Director

Between 2007 and 2011, Mr. Browne held a number of senior executive roles in Aviva Ireland, including the position of CEO. Prior to this, he was a senior executive with Eagle Star Life Assurance Company of Ireland (now Zurich Life) over a sixteen year period, and between 2012 and 2016 he re-joined Zurich Group in a global strategy role based in Switzerland.

Mr. Browne holds a number of other Independent Non Executive Director positions, including FBD plc and Athora Ireland plc. Mr. Browne is a Fellow of Chartered Accountants Ireland and holds a Bachelor of Commerce degree from University College Galway.

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Icon expand Helen Grimshaw - Non Executive Director

Helen is a senior leader and problem solver, who has been at the forefront of tackling some of the most complex, high profile and diverse issues in the Financial Services sector.

Helen began her career training as a Chartered Accountant with Arthur Andersen in London, specialising in Corporate Tax.

Following 6 years in the professional services arena, Helen joined RBS in 2003 and has pursued a number of diverse roles. During 2009, she was part of the core team which worked with HMT in agreeing the terms for successfully bailing out RBS and from 2011, she has led the divestment of a number of non-core exposures across multiple jurisdictions and sectors (aviation, rail, shipping). Helen is currently working with the senior executive in RBS in her capacity as Chief of Staff to the CEO and serves as a Director and Chairman of Coutts International in Zurich.

 

Senior Executive Committee Members

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Icon expand Jane Howard – Chief Executive Officer

Jane Howard has worked in the financial services industry for more than 37 years. She has operated at Executive level for the last 14 years in risk management, and leading large scale operations and customer facing businesses. Jane’s previous role, to August 2018, was that of Managing Director, Personal Banking for RBS, one of the largest UK Banks.

Under Jane’s four year leadership, Personal Banking implemented a Financial Health check for customers, reshaped the network so that customers have more physical and digital ways to bank than ever before and launched a professional development programme to enable customer-facing colleagues achieve an externally recognised Professional Banking Certificate.

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Icon expand Paul Stanley – Deputy Chief Executive Officer and Chief Finance Officer

Paul joined Ulster Bank from AIB in August 2013. He was previously the Acting CFO for AIB and a member of its Leadership Team, from 2011. Paul was Interim Chief Executive Officer from August 2015 to May 2016.

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Icon expand Eddie Cullen - Managing Director, Commercial Banking

Eddie was appointed to the role of Managing Director, Commercial Banking in May 2015.  Before taking on his current role Eddie was Managing Director, Corporate & Institutional Banking for Ulster Bank.  Eddie joined Ulster Bank in 1993 and served in a variety of roles.  Prior to joining Ulster Bank, Eddie worked for KPMG specialising in Corporate Tax.

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Icon expand Ciarán Coyle – Managing Director, Personal Banking

Ciarán has extensive banking experience, joining Ulster Bank from AIB in 2005, he worked in the Retail Bank before moving to the Services division where he held a number of leadership roles including Head of Ulster Bank Change for three years. Here he worked on centralising all change activity and delivering all of the Bank's regulatory and transformation programmes. Most recently he held the role of Head of Banking Operations where he led a large team responsible for the day to day operations of the bank.

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Icon expand Derval McDonagh, Director of Human Resources

Derval commenced in role as Director of HR, UBIDAC on the 28th November 2018. Derval is responsible for developing our People strategy, a core part of which is to make Ulster Bank a great place to work.

Derval is a highly experienced HR professional, with 20 years experience in financial services, most recently as Head of HR at the Central Bank of Ireland. Prior to joining the Central Bank, Derval was Head of HR at Danske Bank and she has worked across retail, business, corporate and institutional banking in both the Republic and Northern Ireland.

Derval achieved a Bachelor degree in Commerce from NUI Galway and went on to complete her Masters of Business Studies (MBS), Human Resources Development from the Smurfit School in UCD.

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Icon expand Andrew Blair – Head of Customer Debt Solutions

Andrew joined Ulster Bank in December 1986 and spent 20 years of his career in customer facing Corporate & Commercial Banking roles. Andrew was appointed COO of Corporate Markets in 2008 and subsequently spent 7 years in Chief Credit Officer roles.  Andrew was appointed Head of Problem Debt Management in early 2016.

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Icon expand Damien Daly – Director of Strategy, Innovation and Customer Experience

Damien was appointed as Ulster Bank Head of Customer Experience & Products (CE&P) in April 2018. He has extensive experience in the financial services industry across retail banking, capital markets and treasury management.

Damien joins us from Bank of Ireland where he held a number of senior roles over 13 years, including most recently Managing Director of Bank of Ireland UK’s AA Financial Service Business and a member of the BOI UK Executive Management Team.

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Icon expand John Hennessy – Director of Risk

John Hennessy joined UBI DAC in September 2018. John was appointed Director of Risk in December 2018. He previously worked in a variety of senior risk roles in the Santander Group in Madrid, New York, Boston and London over the last 30 years.

John also worked in front office roles as a corporate banker and in asset backed securities. He started his career as a graduate trainee with Lloyds Bank in 1985.

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Icon expand Fiona McMahon – Director of Compliance

Fiona served as Head of Supervision at the Central Bank of Ireland, and over the last five years, she has led a variety of Supervisory teams across Life Assurance, International Banking, Consumer Protection and Investigations, having worked at the Central Bank for sixteen years. 

Fiona brings extensive regulatory and compliance knowledge and experience across the SSM framework and is a member of the SSM Centralised On-site Inspections Network, the EBA Standing Committee on Oversight and Practices, in addition to the Financial Stability Committee of the Central Bank. Previously, Fiona qualified as a Chartered Accountant whilst at PwC.

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Icon expand Joe Heneghan– Interim Chief Administrative Officer

BIO to follow.

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