AIB has appointed Mark Bourke as the bank's new chief financial officer.

Mr Bourke had been CEO at financial services group IFG for the past 12 years and announced today that he would leave the firm at the end of April.

Mr Bourke will also become an executive director on the bank's board.

He began his career at Price Waterhouse Coopers in 1989.

He is a member of the Institute of Chartered Accountants Ireland. and Institute of Taxation in Ireland and he was educated at UCD and DCU.

"I am extremely pleased to welcome Mark to AIB. He brings with him a wealth of experience in international financial services and I am sure that he will make a valuable contribution to the future strategic direction of the bank," commented the bank's chief executive David Duffy.

Earlier, IFG Group said that it had started a recruitment process for a new boss, adding that Mr Bourke will stay in his role until the end of April to "facilitate an efficient transition period".