Sunday June 7, 2020

Ulster chief executive finally calls time on rollercoaster reign

Having built Ulster Bank up and seen it come crashing down, Cormac McCarthy is heading for pastures new

3rd July, 2010

The time to pursue new challenges finally arrived last week for Ulster Bank chief executive Cormac McCarthy.

It was a mark of just how quickly McCarthy had risen that he was stepping down at the youthful age of 47, despite having become top dog at mortgage lender First Active ten years ago and taking over at Ulster in 2004.

His reward for spearheading First Active’s €887 million sale to Royal Bank of Scotland (RBS), Ulster’s parent, did...

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