DAVY VIEW

Bank of Ireland (BOI) has appointed two experienced executives to key roles. The appointment of Mark Spain as Group CFO should see continuity in strategy, particularly given the integral role played in the strategic refresh in 2020 and acquisitions in 2021. Going forward, distributions will be a key area of focus as the strategy moves from delivery to execution. Remuneration restrictions remain in place for Irish banks, with the resultant competitive disadvantage relative to those not covered by such restrictions.