Bank of America to move senior figures to new EU hub in Ireland

Five executives to move from London, along with 125 other relocations linked to Brexit

Times Square ad for Bank of America: banking giant said last year it aims to merge its existing Irish banking subsidiary with its main bank in London to create its main European banking entity, based in Ireland.

Times Square ad for Bank of America: banking giant said last year it aims to merge its existing Irish banking subsidiary with its main bank in London to create its main European banking entity, based in Ireland.

 

Bank of America Merrill Lynch has selected a number of senior executives to lead a planned new post-Brexit EU hub in Dublin.

The banking giant said last year it aims to merge its existing Irish banking subsidiary with its current main EU bank in London to create its main European banking entity, based in Ireland.

Cork native Rob Cahill, a group veteran, will be head of global technology and operations at the EU bank, Bruce Thompson, who was named last year as head of the unit, said in an internal announcement on Tuesday.

The announcement also revealed that five executives will move to Dublin from London, including George Carp, who will become the unit’s chief financial officer, and Oliver Geffroy, who will be chief compliance officer and head of operational risk.

The appointments come a week after the group said it would relocate up to 125 jobs from the UK to Ireland this year as it prepares for Brexit, including staff in finance, risk, compliance, technology and credit functions. The group had a workforce of about 600 in Ireland at the start of last year, before it signalled to Government officials it aimed to add a further 100 roles to expand its technology and operations hubs in Dublin in a move unrelated to its Brexit planning.