Brendan O'Hora, a 38year-old banker responsible for the first 100% mortgage sold in Ireland, resigned as Ulster's head of retail marketing on Wednesday.

He will take up a similar role at NIB in the New Year, where he will join a number of former colleagues who defected from Ulster Bank over the past year.

They include Andrew Healy, NIB's new chief executive, Kevin Gallen, who serves as Healy's deputy at NIB, and Gary Duffy, who runs NIB's business in the northwest.

"The experience that Brendan can bring is hugely relevant to what we're trying to achieve, " said Healy. "He was too good an opportunity for us to miss."

O'Hora's departure follows the exit of his former boss, rugby hero Des Fitzgerald, who quit as Ulster Bank's managing director for retail banking earlier this year. Fitzgerald recently joined Citadel Financial Advice, a start-up business owned by insurance company Royal Liver, as chief executive.

O'Hora and Fitzgerald had worked together at First Active before moving to Ulster Bank following its acquisition of the former building society in 2003.

NIB turned up the heat in the mortgage market last week with a new loan aimed at poaching borrowers who have built up equity in their homes. It claims they could save 1,500 a year in interest by switching to its new mortgage.