John Hourican

Last updated

John Hourican
Born
John Patrick Hourican

(1970-07-24) 24 July 1970 (age 52)
Dublin, Ireland
NationalityIrish
Education National University of Ireland
Dublin City University
OccupationBanker
TitleCEO, NewDay
TermSeptember 2019 -
PredecessorJames Corcoran
SpouseRioghnach Hourican
Children4

John Patrick Hourican (born 24 July 1970) is an Irish banker and businessman, CEO of NewDay since September 2019, and formerly CEO of the Bank of Cyprus from 2013 to 2019.

Contents

Early life and education

Hourican was born on 24 July 1970 in Dublin, and has two brothers and three sisters. [1] He graduated with a degree in Economics and Sociology from the National University of Ireland and a postgraduate diploma in Accounting from Dublin City University. [2] [3]

Career

Hourican started his career as an accountant with Price Waterhouse, initially in Dublin, and later in London and Hong Kong. [3] [4] In 1997, he joined the Royal Bank of Scotland. [4]

In 2007, Hourican became chief financial officer of ABN Amro after Royal Bank of Scotland purchased it in October 2007. [5] In 2008, he became chief executive of global banking and markets, a role he served in until 28 February 2013. [2] [5] Hourican quit to "demonstrate responsibility", following RBS's £390 million fine for its involvement in the Libor scandal, although he was not personally implicated. [6] The Independent noted that Hourican "fell on his sword" and that "the City wondered if he could recover his career", but added "it had never been alleged that the head of RBS's investment bank knew about the collusion". [7]

In 2013, John Hourican was named CEO of Bank of Cyprus. At the position, he inflicted losses on depositors and a forced takeover on its smaller rival Cyprus Popular Bank. He cut 1/3 of the bank's balance by unloading bad loans, and brought in 5 billion euros in new deposits. [4]

In April 2015, it was announced that Hourican had resigned for "personal reasons", and would work his four-month notice period. He later decided to extend his contract until September 2019. [8]

In March 2019, he was named CEO of NewDay, succeeding James Corcoran, [9] [10] starting September 2019. [11]

Distinctions

Personal life

Hourican and his wife Rioghnach have four children, two boys and two girls. [1]

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References

  1. 1 2 "Saturday profile: Hourican forces his way into Hester's plans". The Scotsman. 21 November 2008. Retrieved 11 April 2014.
  2. 1 2 "John Patrick Hourican". Businessweek. Retrieved 11 April 2014.
  3. 1 2 3 "Bank of Cyprus appoints new CEO (updated)". Cyprus Mail. 22 October 2013. Retrieved 11 April 2014.
  4. 1 2 3 Brennan, Joe. "The Irish man who helped tackle Cyprus's financial crisis". The Irish Times. Retrieved 28 August 2019.
  5. 1 2 Partington, Richard (7 February 2013). "John Hourican: an RBS timeline". Financial News London. Retrieved 20 July 2020.{{cite web}}: CS1 maint: url-status (link)
  6. ↑ Treanor, Jill (22 October 2013). "Former Royal Bank of Scotland executive to head Bank of Cyprus". The Guardian. Retrieved 11 April 2014.
  7. ↑ Kochan, Nick (20 December 2013). "John Hourican: The $1 trillion was our main worry, not Libor fixing". The Independent. Retrieved 27 April 2014.
  8. ↑ "Bank of Cyprus CEO John Hourican resigns citing personal reasons". Economictimes. 21 April 2015. Retrieved 21 April 2015.
  9. ↑ "NewDay appoints John Hourican as CEO". New Day. Retrieved 28 August 2019.
  10. ↑ Kleinman, Mark (2 March 2019). "Ex-RBS banker Hourican returns to UK in job at credit card giant". Sky News. Retrieved 9 June 2020.
  11. ↑ Brennan, Joe. "Ex-Bank of Ireland executive plots UK challenger lender IPO". The Irish Times. Retrieved 28 August 2019.
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