Nick Leeson has been promoted from general manager of Galway United to chief executive the club.
The former rogue-trader, who brought about the collapse of Britain's Barings Bank in 1995 after racking up losses of $1.4 billion through illegal trades in Singapore, has worked with the club since joining as commercial manager over two years ago.
Six months after joining he was appointed general manager. He has now agreed to remain with the club until at least 2009.
Announcing the appointment today Galway United chairman John Fallon said: "Nick has been a wonderful addition to Galway United and has driven the club forward over the past few years.
"It is a significant development for the club that he has been appointed CEO and that he is committed to the club for the next two and a half years at least," he said.
Leeson, who was played by Ewan McGregor in the 1999 film 'Rogue Trader', says he is looking forward to the challenge of his new role at the club.
"A lot of hard work has taken place over the past few years and everyone in the club knows there is still a lot to do," he said today. "But the club is heading in the right direction and I am looking forward to being part of that development."
The Englishman spent three-and-a-half years in a Singaporean prison following the collapse of Barings but moved to Galway four years ago with his Irish wife.
Barings, which dates back to the eighteenth century and numbered Queen Elizabeth II among its clients, was bought by Dutch financial services group ING in 1995 for £1.