Ulster Bank senior executive John McDonnell, a veteran of 22 years at the bank, is leaving the company after taking early retirement.

Chief executive of Royal Bank of Scotland’s regional markets division covering Europe and the Middle East, including Ulster Bank, Mr McDonnell had most recently been preparing for sale overseas assets across the division that were classified as “non-core” by the part-nationalised UK bank.

Mr McDonnell joined Ulster Bank in 1987.