Bank of Ireland appoints former Barclays banker as chief executive – The Irish Times

Bank of Ireland has announced the appointment of Akshaya Bhargava as the bank’s new chairman and governor, succeeding Patrick Kennedy following his departure in early 2025.

Bhargava, who joined the bank’s board in January as a non-executive director, has held senior positions including: in the American financial services group State Street and Citibank. He is an Indian citizen. He has lived in the UK since 1993, where in 2014–2017 he also served as the CEO of Barclays’ wealth and investment management department.

Bhargava is also the executive chairman of Bridgeweave, a fintech company he founded in 2018 that provides research and investment advisory services to equity investors.

He will take up the position on January 1, 2025, Bank of Ireland announced, replacing Kennedy, who announced his retirement earlier this year after 14 years on the bank’s board and six years as president and governor.

“Akshaya combines deep financial services knowledge and fintech experience with leadership strength and an entrepreneurial mindset,” said Richard Goulding, vice president of Bank of Ireland. “These features will be of great benefit to Bank of Ireland as it works to complete the current strategic cycle and look to the future in this rapidly growing sector.”

“I would also like to thank Patrick Kennedy for his exceptional leadership since becoming chairman and governor in 2018 and for his service on the board since 2010.” – he said. “Under Patrick’s leadership, the group returned to full private ownership, made a number of transformational acquisitions and significantly strengthened its strategic and financial position, including returns to investors.”

In its 2023 annual report, the bank said it planned to increase the salary for the position from the 2009 level of €394,000 to help “attract a candidate with the right experience and expertise.”

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