New Chairman for Ulster Bank Group Sean Dorgan to succeed Dr. Alan Gillespie

9th Jul 2008

Ulster Bank Group today announces that Mr. Sean Dorgan will succeed Dr. Alan Gillespie as Chairman of Ulster Bank Group when he steps down in September, after 7 years.

Mr. Dorgan will bring to the position a proven track record of leadership in both the public and private sectors and an extensive knowledge of the economic and business environment throughout the island of Ireland. Mr. Dorgan, who is currently Deputy Chairman of the Group, served as Chief Executive of IDA Ireland from 1999 until last year and has also been Chief Executive of the Institute of Chartered Accountants in Ireland. Recently Mr. Dorgan has been appointed to a number of senior non-executive roles including Chairman of Tesco Ireland and Director of Short Bros plc, FBD Holdings and Fineos Corporation.

Congratulating Mr Dorgan on his appointment, Sir Tom McKillop, Chairman of The Royal Bank of Scotland Group, said:

We are delighted that Sean Dorgan has accepted the appointment as Chairman of Ulster Bank Group. His leadership experience across a range of sectors in Irish business will be an asset to the management team at an important time in the development of the Group and the Irish economy.

Speaking about the contribution of outgoing Chairman, Dr. Alan Gillespie, Sir Tom added:

Alans leadership and banking experience have proved invaluable during a period of unprecedented growth for Ulster Bank Group.

Commenting on the announcement, Cormac McCarthy, Ulster Bank Group Chief Executive, said:

Sean Dorgans experience will be a tremendous benefit to Ulster Bank Group. I and the rest of the management team look forward to working with him as we take the business forward from a position of strength."

Mr. Dorgans appointment is subject to the usual regulatory approvals.