Mr Denis O'Brien is to step down as deputy governor of Bank of Ireland, it was announced today.
The bank said Mr O'Brien was also stepping down as a member of the Court of Directors (Board). His resignation will take immediate effect.
Mr O'Brien was appointed to the board in 2000 and appointed deputy governor in September 2005.
Mr O'Brien cited growing international business interests and the demands of an extensive travel schedule as reasons for his resignation.
It was reported earlier this month that Mr O'Brien, whose Digicel group has been expanding rapidly in the Caribbean and South America, intends to enter the telecoms market in the United States early next year.
