Kevin Dolan left his post as CEO the Bank of Ireland Asset Management, according to Anne Mathews, media relations manager.
The announcement was made today, the same day the bank revealed plans to combine its wholesale financial services with the asset management division, which had €45.1 billion ($57.2 billion) in assets under management as of March 31. BIAM holds a majority stake in two U.S.-based managers, Iridian Asset Management and Guggenheim Alternative Asset Management. Earlier this year, BIAM also entered into a joint venture agreement with U.S. private equity specialist Paul Capital Partners to create Paul Capital Top Tier Investments, Ms. Mathews said.
Denis Donovan, CEO of the wholesale financial services division, will be CEO of the combined capital markets division. There are no plans to replace Mr. Dolan, Ms. Mathews said. Additional information about Mr. Dolan's plans was not available as of press time.