Bank of Ireland has appointed Mark Spain as new group chief financial officer and executive director.

Back in September, the bank said current CFO Myles O'Grady would step down from the role at the end of March.

He is leaving the bank to move to a job with the Musgrave Group.

Mr Spain joined Bank of Ireland in 1998.

He became director of group investor relations in 2013, followed by director of group finance in 2016.

In 2019, Mr Spain was appointed chief strategy officer and member of the group executive committee.

As chief strategy officer, the bank said Mr Spain led the delivery of a number of initiatives including the group's strategy refresh process, and the successful bid for Davy and agreement to acquire the KBC Bank Ireland portfolios in 2021.

Mr Spain has previously worked for Diageo and KPMG.

He will formally take over as CFO and executive director on 31 March 2022.

"Mark is taking up this role during a transformational period for the Bank of Ireland Group," said Bank of Ireland's group chief executive, Francesca McDonagh.

"He brings to the role his depth of understanding in relation to the group's strategic and financial progress and targets, along with his significant experience in strategy development and delivery, transformation, and mergers and acquisitions," she added.

The bank confirmed that Enda Johnson will take over responsibility for group strategy, in addition to his current responsibilities, becoming chief strategy and transformation officer.

"As Mark moves to the CFO role, I am pleased that Enda Johnson will take over responsibility for group strategy, becoming chief strategy and transformation officer," Ms McDonagh said.

"Mark and Enda’s understanding and experience will strongly support the group in delivering on its ambition, purpose, and strategic priorities over the period ahead," she added.