Edinburgh-based Tesco Bank said it appointed former Royal Bank of Scotland executive Declan Hourican to the position of chief financial officer (CFO).

Hourican will take up the role on October 3, 2016, and he will become a member of the Tesco Bank executive committee and board.

Current Tesco Bank CFO Peter Bole will continue in the role until October.

It was announced in January that Bole would leave Tesco Bank to do the same job at cross-town rival Virgin Money — and pick up a bumper remuneration package of up to £3 million.

Tesco Bank chief executive officer Benny Higgins said: “Declan has a proven track record of helping provide outstanding service for customers, and he will play an important role in helping Tesco Bank deliver its ambition to be the bank for people who shop at Tesco.”

The appointment is subject to regulatory approval.

Hourican joins Tesco Bank after 14 years at Royal Bank of Scotland, latterly as chief finance and administrative officer in the group’s restructuring division.