Wright will retire from the post he has held since April 2002 at the end of December
McCormack, currently managing director of Bank of Ireland Mortgages, will take up the reins as head of the Bank of Ireland subsidiary from January 1.
Wright has worked at Bank of Ireland and Bristol & West in a variety of roles for 28 years. He will retire to focus on charity work and currently has no plans to re-enter the mortgage market.
He says: “I have been in discussion with the company for a while about my retirement.”
McCormack has worked at Bank of Ireland for the past 10 years where he started off as a trainee salesman.
He says: “Wright and his team leave the business in good shape. I'm excited about this move and am looking forward to starting, what with Bristol & West's strong brand, strong product range and good people.
The firm has also revealed that McManus has been appointed head of sales at B&W. McManus had been acting head of sales for the past three months after Brian Everett quit to pursue career options believed to be outside the mortgage industry.
McManus says: “My main challenges are to help ensure we reach the mortgage regulation deadline of October 31 and to achieve volume targets while protecting our profit margins.”