Des O’Shea has been appointed as the new Ulster Bank Chairman.

Mr O’Shea succeeds Philip Nolan, who will leave the board after 11 years – he was chairman for four of those years.

Mr O’Shea has been a member of the Ulster Bank board since November 2012 and is Chairman of the Audit Committee and a member of the Risk Committee.

He is also a Non Executive Director of Byblos Bank in Lebanon and Pepper Australia.

In November 2011 he retired from GE Capital after 14 year,s during which he held a variety of senior roles, including senior vice president from 2003.

Commenting on the appointment, Chairman of Ulster Bank’s parent company, RBS, Howard Davies said: "On behalf of RBS and Ulster Bank, I would like to thank Phil for his unwavering professional drive and personal commitment to Ulster Bank and its customers over the past eleven years.

"Des has served on the Board of Ulster Bank for four years and brings not only an in-depth knowledge of the Irish market but 36 years of financial services experience."