David Stewart has been appointed as a non-executive director of Permanent TSB.

Mr Stewart is stepping down as chief executive of Coventry Building Society at the end of the month, and will take up the role at the Irish bank on 1 April.

He has worked at Coventry Building Society for 12 years, before which he spent ten years at DBS Management.

Permanent TSB’s chairman Alan Cook said Mr Stewart would be “invaluable to the group” due to his experience at senior level in retail banking.

He said the appointment marked the end of a period of board recruitment, which began in 2012 and has seen six new directors appointed.

“The Board is now purpose built for the task of implementing the restructuring plan and returning permanent tsb bank to its role as a core competitive force in the Irish market,” he said.