The Central Bank announced the appointment of two new Assistant Directors General and the first appointments to the newly established Risk Advisers Panel. The appointments at Assistant Director General level are to the new restructured divisions of Enforcement and Markets Supervision. Peter Oakes has been appointed as Assistant Director General, Enforcement and Gareth Murphy is the new Assistant Director General, Markets Supervision.
New appointments have also been made in the Insurance Supervision division, which has been split into two separate departments, wholesale and retail. Fiona McMahon is the new Head of Retail Insurance Supervision and Colette Drinan has been appointed as the new Head of Wholesale Insurance Supervision.
The first three appointments to the new panel of Risk Advisers have also been announced. Michael Burke, Aidan Cassells and Liam Manahan are the first appointees to the panel which comprises senior financial industry professionals with an extensive range of specialist skills and expertise. The panel will provide advice and support to the Central Bank in the assessment and mitigation of risks in financial institutions. It will also provide advice on risks in individual industry sectors and will be involved in the assessment of the fitness and probity of individuals applying to take up senior positions in the financial services industry.
Commenting on the appointments, Matthew Elderfield, Head of Financial Regulation said, ‘I am delighted to announce the appointment of such high calibre and experienced people to the positions. The appointment of Peter and Gareth to the ADG posts of Enforcement and Markets Supervision are key appointments and complete our new senior management team for regulatory functions. The first members of our Risk Advisers Panel, Michael, Aidan and Liam, bring a great deal of practical industry experience to the organisation which will be invaluable in working with supervisors to address the risks in supervised entities. These are the first appointments to the panel, with further experts with a range of skills and experience to be announced in due course.'
Article Published: 30/06/2010