Mr Donal Forde has been appointed as the new managing director of AIB Bank, Republic of Ireland.
Mr Forde will succeed Mr Eugene Sheehy who has moved to Baltimore as part of a management shake up at Allfirst. Mr Forde was formerly manager of AIB's strategic development unit.
A native of Newmarket, Co Cork, Mr Forde joined AIB in September 1978. He worked in AIB Capital Markets, becoming head of AIB Corporate and Commercial Treasury in 1995 and head of Treasury Services in 1998.
In September 1999, he was appointed general manager of the strategic development unit, which initiates and co-ordinates strategic activities in the bank.