Denis Casey resigned from the helm of Irish Life & Permanent in February, after a deposit scandal involving the bancassurer.

Irish Life & Permanent (ILP) has appointed Kevin Murphy as the new CEO. He will replace Denis Casey, who resigned in February after a deposit scandal involving the bancassurer and now nationalised Anglo Irish Bank – reported Reuters.

Mr. Murphy, an actuary by profession, has served the Irish Life unit since 1972, and has led the group’s fund management arm – Irish Life Investment Managers between 1993 and 2005. He was appointed to the group’s board in 1999.

Irish Life & Permanent said: Since February of this year he has managed the day-to-day operation of the group alongside Chairwoman Gillian Bowler pending the conclusion of this selection process.