Stewart Davies, Managing Director of Anglo Irish Bank, Isle of Man is leaving the post.
He is to move to Birmingham to take responsibility for the bank’s operations in the Midlands, Wales, and the West Country.
He describes it as " a new challenge".
Davies, who has spent most of his career in mainstream banking, joined Anglo in 1999 as chief executive of what was then Anglo Irish Trust (I.O.M.) Limited. In 2002, following the acquisition of Ernst & Young Trust Company Limited, he became MD of a much enlarged and expanded trust operation. In late 2004, he took overall charge of both the bank and the trust company.
In his time, the bank’s operations on the Isle of Man have grown both in size and profitability with profits up 38%, a 45% growth in deposits, and 28% growth in its Trust business in the last twelve months.
There is no word as to his replacement on the Island.
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