Irish Life picks new bank boss

Irish Life & Permanent has hired Jeremy Masding as the new chief executive of its banking business, Permanent TSB. The bailed-out bank, which is splitting its business in late March, said its current chief executive David Guinane will leave the firm when Masding joins in February. Masding spend 23 years at Barclays, after which he worked as chief executive of Central Trust and as chairman of loan broker Richmond Group. The Irish government poured €1.3bn into the bank in November after the sale of its insurance arm fell through.