An Post/Fortis Joint Venture Appoints Chief Executive as European Commission gives approval
12 January 2007
which will provide a broad range of retail banking services to the Irish market, including daily banking, savings products, insurance, credit cards and mortgages, though the Post Office network.
The announcement was made as the European Commission announced its approval for the joint venture. Application has also been made to the Irish Financial Regulator for a banking licence.
Ms Sweeney is currently managing director of her own business consultancy firm which she established in 2005. Prior to that she held senior positions in both the private and public sectors. She was Chief Executive and deputy Chief Executive of Aer Rianta from 1998 having previously operated in a number of senior management roles across the Group.
Before joining Aer Rianta Ms Sweeney had been a Director and Manager with KPMG in Dublin. In her career to date she has led and managed strategic and operational improvement projects in different sectors and markets, including retail and financial services. She has over 20 years experience in business in Ireland, UK, Germany, Russia and the United States. Ms Sweeney is a Fellow of the Institute of Chartered Accountants and is currently Vice-President of the Dublin Chamber of Commerce.
An Post Chairperson Margaret McGinley and Chief Executive Donal Connell congratulated Ms Sweeney on her appointment, describing it as another important milestone in the establishment of the new Irish retail bank. “Margaret brings a wealth of experience in national and international business development and joint venture building to this exciting financial services initiative wherein the global banking expertise of Fortis will combine with An Post’s unrivalled transactional service knowledge and unique retail network,” Mr Connell added.
Thierry Schuman, General Manager of Retail Banking at Fortis welcomed Ms Sweeney’s appointment and said that it, together with the European Commission’s approval for the Joint Venture were important steps for all involved. “We are forging ahead with our plans to present a broad range of products and services to the Irish customer.”
Commenting on her appointment, Ms Sweeney said: “I’m really looking forward to the challenge of establishing this new nationwide banking service. The combination of Fortis’s renowned banking expertise and An Post’s national reach through its network will enable us to bring an exciting new banking and financial services offering to the Irish market.”
Further senior appointments are expected to be made in the next few weeks while work continues apace on the new retail bank’s IT and banking systems, product development and launch plans.
No further comment will be made at this time.
