The Board of Anglo Irish Bank has today (Wednesday 22nd September 2004) appointed Mr David Drumm as Chief Executive Designate. Mr Drumm will succeed the current Chief Executive, Sean FitzPatrick, in January 2005 on his retirement from the position. Mr Drumm is Head of Banking, Dublin and the USA.

“We are delighted to announce that David will lead the Bank over the coming years and look forward to continued strong performance under his stewardship,” said Peter Murray, Chairman, Anglo Irish Bank. “He was chosen from a high calibre field and he brings a depth of experience, a great feel for the culture of the Bank and strong leadership skills to the job.”

David Drumm (37) is a member of both the Strategic Management Board and the Executive Management Board at the Bank. A Chartered Accountant, he joined the Bank in 1993 after a number of years in the venture capital industry.

He worked initially in the Banking Division in Dublin before moving to the United States in 1998 to establish what is now the US Banking Division, based in Boston, Massachusetts.

He returned to Ireland in July 2003 to assume his current position as Divisional Director and Head of Banking for both the Dublin and US Banking Divisions, which contribute nearly half of total Group profits.

As Chief Executive Designate, Mr Drumm will be co-opted to the Board as an Executive Director with immediate effect.

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For reference:
Mr Peter Murray
Chairman
Anglo Irish Bank
+353 1 616 2003

22 September 2004