Central Bank announces appointment of Sharon Donnery as Deputy Governor Financial Regulation

30 May 2022 Press Release

Central Bank of Ireland

  • Sharon Donnery to be appointed Deputy Governor (Financial Regulation).
  • Mark Cassidy appointed Acting Deputy Governor (Monetary and Financial Stability). Robert Kelly has been appointed Acting Director Economics and Statistics.
  • Job title of Deputy Governor (Consumer and Investor Protection) replaces Director General Financial Conduct.

The Central Bank today announced that, with the consent of the Minister for Finance, the Commission has appointed Sharon Donnery to the role of Deputy Governor (Financial Regulation) with effect from 1 July. The role responsibilities include that of Deputy Governor (Prudential Regulation) and include additional responsibilities to strengthen the Bank’s input into the development of domestic and international financial regulatory policy and lead on the Bank’s strategic priority to transform the Bank’s approach to supervision and regulation.

The position of Deputy Governor (Central Banking) is being renamed as Deputy Governor (Monetary and Financial Stability), with Director Economics and Statistics Mark Cassidy appointed on an acting basis to the role pending the outcome of an open competition. Robert Kelly, currently Head of the Bank’s Macro-Financial Division has been appointed to act in Mark’s place.

The job title of Deputy Governor (Consumer and Investor Protection) replaces Director General Financial Conduct. The change in title reflects the importance of consumer and investor protection at the heart of the Bank’s mission and strategy.

Speaking about the appointment, Governor Makhlouf said: “We have an ambitious Strategy which represents a renewal and repositioning for the Central Bank. Our Strategy aims to ensure that our direction and ambitions over the next five years are responsive and forward looking. I am delighted Sharon has agreed to take on a new set of Deputy Governor responsibilities and I look forward to working with her, and the rest of the senior team on the delivery of the strategy.”

Notes to editors

Ms Donnery will become a member of the ECB’s Supervisory Board which has responsibility for directly supervising the largest banking groups in the euro area. Ms Donnery spent the last six years as Deputy Governor leading the Bank’s Economics and Statistics, Financial Stability and Financial Operations Directorates and working as the Governor’s Alternate on the ECB Governing Council.

Mr Cassidy, currently the Bank’s Director of Economics and Statistics, will serve as Deputy Governor (Monetary and Financial Stability) until the recruitment process for this position is completed. Mr Cassidy has represented the Central Bank on a range of Eurosystem and international committees including the ECB’s Financial Stability Committee, the Monetary Policy Committee, the International Relations Committee, Banking Supervision Committee and Working Group on Forecasting.

Robert Kelly, currently the Head of the Bank’s Macro-Financial Division has worked as Deputy Head of Monetary Policy and Financial Stability, and served on multiple international committees covering economics and financial stability.