Anglo Irish Bank has appointed Mike Aynsley as group chief executive following an international recruitment process. Reportedly, Mr. Aynsley has over 30 years experience in banking and in financial services consulting in Australia, New Zealand, the Asia Pacific Region and the United Kingdom.

He will start as group chief executive of the bank on September 7. However, Donal O’Connor, who has been executive chairman of the bank since February 19, 2009, will revert to the position of non-executive chairman when Mr Aynsley joins the bank.

Donal O’Connor said: “This is the first key step in establishing a new leadership team in Anglo Irish Bank. Mike will play a key role in the appointment of the leadership team, a process which will accelerate once he is on board. Our on-going focus is to stabilise and de-risk the bank and, in time, to create options for the shareholder. The appointment of a new group chief executive with such a depth of experience in banking and risk management, combined with a new leadership team, will provide added impetus towards realising these objectives.”