THE HEAD of the Irish unit of Bank of America Merrill Lynch, Mike Ryan, is stepping down from his post to become deputy chief executive of the financial regulator in the Gulf state of Qatar.
Mr Ryan, who is president of the Irish Banking Federation, and formerly chairman of the Federation of International Banks in Ireland, will take over responsibility for legal and policy matters at the regulatory authority of the Qatar Financial Centre.
A spokesman for Merrill Lynch said that he would remain with the company “to ensure a smooth transition”.
The Qatar Financial Centre, which is based in Doha, said that Mr Ryan will take up his new role in late October.
Phillip Thorpe, the authority’s chairman and chief executive, said that Mr Ryan’s expertise in regulation and compliance will be valuable to the authority in its “efforts to build upon the reputation of Qatar as a first-class destination for financial services business”.
The regulatory authority said that Mr Ryan, who has also worked in New York and London, played “an important role in providing the Government of Ireland with advice on the development of that country as a financial services hub within the European Union”.
Mr Ryan follows another senior Irish financial figure to a high-profile job in the Gulf.
Tom Healy, former chief executive of the Irish Stock Exchange, was appointed director general of the Abu Dhabi stock exchange two years ago.
