Anglo Irish Bank has appointed chief executive Sean Fitzpatrick to succeed Peter Murray as non-executive chairman from January next year.
Mr Murray is retiring, having served on the bank's board since 1993.
He said a process to select a successor to Mr Fitzpatrick as chief executive was 'well under way', and the board would announce a decision before the end of the current financial year, which runs to the end of September.
Mr Fitzpatrick will stay on as chief executive until the company's AGM in January next year.
Anglo Irish said Mr Fitzpatrick's appointment as chairman followed consultations with several major shareholders and the Irish Association of Investment Managers.
