British banking giant Barclays has named Pat McCormack, head of the private bank at its European hub in Dublin, as the group’s Ireland country lead.
He succeeds Paul Gillen, who recently left the company. The role is set to take on greater significance in the Irish operation as Barclays proceeds with a plan to move its EU headquarters from Dublin to Paris next year.
“Pat’s journey with Barclays began over 30 years ago when he joined as a graduate and has seen him work in various roles across our corporate, investment and private banks in London and Dublin,” Barclays said in post on LinkedIn.
“He established our private banking presence in Dublin in 2008 and his tenure highlights a deep connection to the business, clients and the market.”
He will report to Francesco Ceccato, chief executive of Barclays Europe, who is expected to relocate to Paris as the French capital becomes the unit’s new base.
Sources said last week, as Barclays confirmed the relocation, that the move will have “minimal impact” on jobs in Dublin, where 356 people are employed. Barclays plans to continue to grow its operations in the Irish capital, they said.
Barclays retains significant ambitions for its corporate banking and private bank businesses in Ireland, “which will remain in place with a strong team of Dublin-based, client-facing and operational colleagues”, the bank said in a statement last week.
The banking group has more than doubled its workforce in the Republic in the wake of the UK deciding to exit the EU. Barclays and Bank of America were the only big international banks to choose Dublin as their main banking hub in the union following the vote. Citigroup had already established its EU base in the State six months before the Brexit referendum.