NAB sanctions Irish restructuring

National Australia Bank has sanctioned a restructuring of its Irish operations with National Irish Bank and Northern Bank to be run by a single board of directors. The two banks will remain separate trading simultaneously under their respective brands, it said yesterday.

Sir David Fell will be chairman of both Northern and National Irish Banks. The non-executive directors will be: Mr George Harkness, Ms Margaret Elliott, Mr Alex Spain and Mr Stephen O'Connor. Another non-executive director, Mr Liam Healy, has retired on completion of his term of office. NIB chief operations officer Mr Philip Halpin has been appointed to the Northern Bank board while Mr Spain will be deputy chairman of NIB.

NAB has made a similar alignment at its British operations, with the same board of directors running its Clydesdale and Yorkshire Banks.