AIB has appointed replacements for two of its most senior executives, both of whom are stepping down from the group.

The bank said yesterday that 51-year-old John O'Donnell, head of investment banking at AIB, had been appointed as group finance director.

Replacing Gary Kennedy, Donegal native Mr O'Donnell will also become a member of the AIB board and of its group executive committee. Mr Kennedy announced last month that he would leave the bank.

Robbie Henneberry has, meanwhile, been appointed as managing director designate of AIB Group (UK). Mr Henneberry, currently general manager of AIB's UK branches, will replace Aidan McKeon, who will retire in December.

A native of Sligo, 42-year-old Mr Henneberry will also join AIB's group executive committee.

The bank's chief executive, Eugene Sheehy, wished both Mr Henneberry and Mr O'Donnell "every success".

Mr Sheehy also thanked Mr McKeon for his contribution to the success of AIB over his long career.

"He has played a major part in the success of many areas of AIB Group over the last 40 years. In recent years our UK business has grown strongly under his leadership and now contributes 25 per cent of AIB's profits," he said.

Mr Sheehy noted that Mr McKeon had wanted to retire at the start of this year but had elected to stay on to ensure a smooth transition for his successor.

Mr O'Donnell, who as group finance director will be one of the bank's most significant executives, joined AIB in 1989 to work within the bank's international financial services division.

He had previously worked with ICC Bank.

Mr Henneberry has spent all of his career with AIB, having started in branch banking in Dublin's O'Connell Street in 1980.