Francesca McDonagh: An ambitious choice signalling a new era

Bank of Ireland’s appointment of Francesca McDonagh should drive real change, culturally and operationally, within the bank, benefiting customers and shareholders alike

Francesca McDonagh, incoming chief executive, Bank of Ireland PIc: PA

Appointing someone to head up one of Ireland’s biggest banks is not an easy task. You must identify and coax an outstanding external candidate with the experience the job requires. They must have strategic vision to make the changes needed, and the personality and ability to win the confidence of the troops on the ground. And then you must convince the candidate to do the job for less money than they are paid ...