John Patrick Hourican (born 24 July 1970) is an Irish banker and businessman, CEO of

NewDay Newday is an annual Christianity, Christian youth festival for churches from all denominations, initially organised by the Newfrontiers family of churches. Established since August 2004, the event is aimed at young people between the ages of 1 ...

since September 2019, and formerly CEO of the

Bank of Cyprus The Bank of Cyprus (BoC; ; ) is a Cypriot financial services company established in 1899 with its headquarters in Strovolos. Bank of Cyprus has been designated as a Significant Institution since the entry into force of European Banking Supervisio ...

from 2013 to 2019.

Early life and education

Hourican was born on 24 July 1970 in Dublin, and has two brothers and three sisters. He graduated with a degree in Economics and Sociology from the

National University of Ireland The National University of Ireland (NUI) () is a federal university system of ''constituent universities'' (previously called '' constituent colleges'') and ''recognised colleges'' set up under the Irish Universities Act 1908, and signifi ...

and a

postgraduate diploma fILE:Prédio Pós Graduação IMECC Unicamp.jpg, The State University of Campinas, as well as many Brazilian universities, offer Postgraduate courses in Brazil A postgraduate diploma (PgD, PgDip, PGDip, PG Dip., PGD, Dipl. PGD) is a postgraduat ...

in Accounting from

Dublin City University Dublin City University (abbreviated as DCU) () is a Third-level education in the Republic of Ireland, university based on the Northside, Dublin, Northside of Dublin, Republic of Ireland, Ireland. Created as the ''National Institute for Highe ...

Career

Hourican started his career as an accountant with

Price Waterhouse PricewaterhouseCoopers, also known as PwC, is a multinational professional services network based in London, United Kingdom. It is the second-largest professional services network in the world and is one of the Big Four accounting firms, along ...

, initially in Dublin, and later in London and Hong Kong. In 1997, he joined the

Royal Bank of Scotland The Royal Bank of Scotland Public Limited Company () is a major retail banking, retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest and Ulster Bank. The Royal Bank of Sco ...

. In 2007, Hourican became chief financial officer of ABN Amro after Royal Bank of Scotland purchased it in October 2007. In 2008, he became chief executive of global banking and markets, a role he served in until 28 February 2013. Hourican quit to "demonstrate responsibility", following RBS's £390 million fine for its involvement in the

Libor scandal The Libor scandal was a series of fraudulent actions connected to the Libor (London Inter-bank Offered Rate) and also the resulting investigation and reaction. Libor is an average interest rate calculated through submissions of interest rates ...

, although he was not personally implicated.

The Independent ''The Independent'' is a British online newspaper. It was established in 1986 as a national morning printed paper. Nicknamed the ''Indy'', it began as a broadsheet and changed to tabloid format in 2003. The last printed edition was publis ...

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". In 2013, John Hourican was named CEO of

. 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. 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. In March 2019, he was named CEO of

, succeeding James Corcoran, starting September 2019.

Distinctions

* Fellow of

Chartered Accountants Ireland Chartered Accountants Ireland was established by Royal Charter on 14 May 1888, and is Ireland's largest accountancy body. According to its website, it represents over 30,000 members globally. Chartered Accountants Ireland is part of the C ...

Personal life

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

References

External links

John Hourican: an RBS timeline
{{DEFAULTSORT:Hourican, John 1970 births Living people Alumni of Dublin City University Alumni of the University of Galway Irish bankers Irish chief executives Businesspeople from Dublin (city) Bank of Cyprus