The consultation within the mortgage business and field sales team concluded at the end of July and Smith who is on extended leave has no plans to stay, according to sources.
Smith was unavailable to comment and the bank would not be drawn on individual personnel.
The bank restated that there have been no compulsory redundancies and effort has been made to redeploy personnel where possible.
In June, Bank of Ireland (BOI) confirmed it was consulting with a ‘number of sales staff’ which includes its intermediary team in a bid to reduce the field sales team from 17 to 12.
The bank has confirmed closure of its Post Office for Intermediaries brand to new applications on 9 July with all new business offered through the Bank of Ireland for Intermediaries channel.
The Post Office will continue to offer mortgages through its direct channels.
In April 2018, Bank of Ireland launched the Post office for Intermediaries brand to sit alongside Bank of Ireland for Intermediaries and launched two intergenerational products to offer a solution to first-time buyers and also solve the later life lending conundrum.
In June, the Irish government launched a ‘phased exit’ over 2021 of its 13.9 per cent stake in Bank of Ireland worth roughly £676m, owned since the credit crunch bailout.