The former head of banking at Bank of Scotland (Ireland), Paul Cunningham, and the bank’s former head of retail, Antoinette Dunne, have set up a consultancy called Business Partner to advise companies on negotiating performing and distressed commercial debts with their banks.

Mr Cunningham and Ms Dunne, who ran the bank’s Halifax retail business, left last summer as the bank carried out a review, which concluded this week with the announcement that it will close Halifax in June.