Anglo Irish Bank’s chief risk officer Peter Butler has stepped down from his position at the bank.

Peter Butler took up the job in January as a replacement for Anglo’s former chief financial officer Wille McAteer who stepped down alongside three other senior executives following the revelation of hidden loans to bank directors.

Mr. Butler was appointed acting risk officer while a full-time replacement was found and has now decided to leave the bank after 22 years.

Staff at the nationalised lender were informed of his decision to leave in an internal statement from new chief executive officer Mike Aynsley who praised Mr. Butler’s “expertise and integrity” during what he said was a difficult year for the bank.