Mr Peter Murray will succeed Mr Tony O'Brien as chairman of Anglo Irish Bank when Mr O'Brien retires at the bank's annual meeting in January 2002, the bank said yesterday.

Mr Murray has been a non-executive director of Anglo Irish Bank since November 1993. He is a fellow of the Institute of Chartered Accountants and is a director of several firms in Ireland and overseas.

Mr O'Brien was appointed board chairman in January 1999, having joined the board in March 1997.

Anglo Irish also announced the appointment of Mr Ned Sullivan as a non-executive director. Mr Sullivan is the former chief executive of Glanbia plc and held senior management positions in Grand Metropolitan plc.

It also announced the retirement of Mr William McCann, a non-executive director who joined the board in October 1998, following the conclusion of his term of office.