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BoI's new chief exec

Michael Torpey, the banking expert at the heart of the Department of Finance, is moving to Bank of Ireland as chief executive of its corporate and treasury division.

Mr Torpey's previous roles include head of banking with the NTMA, group treasurer at Irish Life & Permanent and finance director at Ulster Bank. His current position is head of the shareholder management unit in the Department of Finance.

Finance Minister Michael Noonan said that Mr Torpey had been "fully committed to resolving the banking crisis in Ireland".