Irish Nationwide (Isle of Man) has appointed David Fulton as its new managing director.

He has previously held high profile positions as the managing director of Britannia International and the business development manager at Irish Nationwide in the Island.

Mr Fulton has 40 years experience in the banking industry, and originally hails from Lancashire.

In his new role he will be the 'public face' of the company in its dealings with government and industry watchdogs, and responsible for the overall development of 'a practiced and effective internal structure'.

Mr Fulton said: "Taking over the reins in the current climate is, to say the least, very challenging. But with every challenge comes an opportunity and I believe we have the opportunity to modernise the business, its system and eventually the product and services it offers."