Simon Boucher, CEO, Irish Management Institute (IMI); Prof Ursula Kilkelly, head, College of Business and Law, UCC; Prof Patrick O'Shea, UCC President; and Susan David, Instructor of Psychology at Harvard Medical School, at the IMI Masterclass at the UCC Centre for Executive Education, Cork. Pic: Daragh McSweeney

Former Savings Bank to reopen as UCC's business school

University College Cork's new Centre for Executive Education was officially opened in the former Cork Savings Bank building on Lapp's Quay today.

The landmark building in the heart of the city will house the Cork University Business School (CUBS) and Irish Management Institute (IMI) programmes, making it Ireland's largest business school.

UCC President Prof. Patrick O'Shea, Prof. Ursula Kilkelly, Head, College of Business and Law, UCC.

Thia Hennessy, Dean of Cork University Business School, UCC and Simon Boucher, CEO, Irish Management Institute; pictured at the official opening of the new UCC Centre for Executive Education at 1 Lapps Quay. Picture: Clare Keogh

The opening of the UCC Centre is the latest University building to open in a city centre location.

This is phase one of a two-phase development for the Business School in Cork city.

Another larger building development is expected to be announced early in 2019.

The historic bank building, located on the corner of Lapp’s Quay and Parnell Place, is a protected structure. It dates back to 1842 and was used by Cork Savings Bank.

It was subsequently part of the Permanent TSB branch network and was closed in 2012.

Cork City Council purchased the building in early 2013 for €750,000.

The Council considered a number of options for the building such as a restaurant and venue for functions similar to the Fire Restaurant in Dublin’s Mansion House.

Some city councillors also suggested the building be reestablished as a museum dedicated to Cork sport or music.

However, City Council placed the building on the open market in early 2016.

UCC purchased the premises for €1.4 million in Summer 2016.

Following an extensive refurbishment, the building is now UCC’s business school flagship building.

The school mixes teaching space and course rooms for programmes for post-grads and mid-career professionals in areas such as technology, healthcare and financial services.