Central Bank announces appointment of new Director of Enforcement

The Central Bank today (28 November 2025) announced the appointment of Karen O’Leary as the new Director of Enforcement. The appointment will take effect from 1 January 2026.

Karen brings an extensive breadth of experience to this role, most recently as Director of Currency, Workplace & Regulatory Services. Prior to that Karen headed up the Bank’s Payments & Securities Settlements (PSS) Division and before that she led the Bank’s Organisation Development Division.

Karen was a Commission Member in the Competition & Consumer Protection Commission (CCPC) from 2014-2017 and oversaw Criminal Enforcement and Legal Services as well as being co-decision maker on all civil enforcement functions of the CCPC.  She also served as CEO of the National Consumer Agency from 2013 until its amalgamation with the Competition Authority to form the CCPC.

Karen replaces Colm Kincaid, who was appointed Deputy Governor, Consumer & Investor Protection.

Announcing the appointment, Governor Gabriel Makhlouf said: “I am very pleased to announce Karen O’Leary as the Central Bank’s new Director of Enforcement. Karen brings a wealth of financial services, consumer protection and Central Bank experience to this important role. The Central Bank’s enforcement strategy is aimed at promoting principled and ethical behaviour in regulated entities. The Central Bank takes appropriate action where regulated entities and individuals fall short of expected standards. Karen’s leadership will be critical in continuing the delivery of our enforcement strategy in a rapidly changing financial system”.

ENDS