Ulster Bank’s chief executive of corporate markets Robert Gallagher is leaving the bank after six years with the UK-owned lender.

Mr Gallagher, the current president of the Irish Banking Federation, was among the unsuccessful candidates in the running to succeed Cormac McCarthy as chief executive of Ulster Bank earlier this year.

The bank’s owner Royal Bank of Scotland appointed New Zealand banker Jim Brown, chief executive of retail and commercial markets at RBS Asia, as Mr McCarthy’s replacement last March.

Mr Gallagher will continue as president of the federation until the end of his term in December.