IRISH NATIONWIDE has recruited former Bank of Scotland (Ireland) executive Antoinette Dunne to carry out a review of the building society’s 50-branch network, despite uncertainty over its future as a stand-alone institution.

Ms Dunne worked for BoSI for more than 20 years and was a key figure in the roll-out and management of the bank’s 44-branch Halifax retail business .

She left the bank last year as the UK-owned institution carried out a review of its operations with a view to closing Halifax.

BoSI announced the closure of Halifax last February and the winding-down of the remainder of the banking operation last month as owner Lloyds decided to withdraw from the Irish market.

Ms Dunne set up a consultancy business with BoSI’s former head of banking, Paul Cunningham, after leaving the bank.

She was brought in by senior management at Irish Nationwide to advise on changes to the management of the society’s branches and how branch managers report into head office.

The Sunday Business Postreported last week the European Commission was preparing to trigger the closure of Irish Nationwide, similar to the Government's Anglo plan, by blocking its proposal to reinvent itself as a mortgage and savings provider.

The building society has not received a response from the commission on its restructuring plan. It has stopped commercial lending but is providing residential loans.

The Government has pledged €2.7 billion to Irish Nationwide, bringing the society into State ownership. Some €9 billion of Irish Nationwide loans are moving to Nama.

Minister for Finance Brian Lenihan said last March that the lender “does not have a future as an independent stand-alone entity” and the Government aims to sell Irish Nationwide quickly or merge it with another entity.