Ulster Bank has appointed Gerry Mallon as its new chief executive in the Republic.He will take up the role in June 2016 and joins from Danske Bank in Northern Ireland where he has been CEO since 2008.

He has also been a member of Danske’s international leadership teams for business banking and personal banking. He will be replaced by his deputy Kevin Kingston, a statement from Danske said.

Mr Mallon takes on the role from Paul Stanley, who has filled the position on an interim basis since former CEO Jim Brown moved to another role within the RBS group in the UK earlier this year.

Mr Stanley will continue to lead the business until June, after which he will assume another executive role with the bank.

Mr Mallon is currently president of the Institute of Banking in Ireland. Before Danske, he held a number of positions at Bank of Ireland in Belfast, McKinsey in London and Dublin, the Industrial Development Board for Northern Ireland and the Northern Ireland Civil Service.

Commenting on the appointment Les Matheson, CEO, RBS Personal and Business Banking said: “Gerry has a significant knowledge of the banking landscape in Ireland which will be invaluable to us as we continue to build a strong and profitable bank that is number one for customer service, trust and advocacy across the UK and Ireland.”

Finance union IBOA said Mr Mallon has established a positive working relationship with the union in recent years which has made a significant contribution - along with the efforts of the Danske Bank staff in returning the bank to profitability after some very difficult years.

“We also place on record our disappointment at the departure of Mr Gerry Mallon as chief executive,” the Union’s general secretary Larry Broderick said.