AIB has appointed David Duffy as its new Chief Executive Officer.
In a statement, the bank said his remuneration would be in line with Government guidelines.
Mr Duffy, 50, has previously worked for Standard Bank International and ING Barings. He will take up the post next month.
His contract is for three years with an option to renew for up to another three years.
The Government has said it has no objection to Mr Duffy's appointment.
Minister for Finance Michael Noonan said: "I note that he is the unanimous preferred choice of the board and brings a wealth of international banking experience from his work for a number of leading banks around the globe."
