Business

Saturday 3 December 2016

Gareth Murphy resigns as Central Bank's market supervisor

Published 22/08/2016 | 17:10

Mr Murphy, who joined in 2010, will remain with the Bank until November.
Mr Murphy, who joined in 2010, will remain with the Bank until November.

Gareth Murphy, the Central Bank’s Director of Markets Supervision, has become the latest senior official to resign from the regulator.

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The Central Bank said Mr Murphy, who joined in 2010, will remain with the Bank until November.

Mr Murphy said that after eight years dealing with issues related to the financial crisis, it was time to “move on”.

“The last six years has been a period of unprecedented change at the Central Bank and it has been a privilege to have had the opportunity to contribute to the rebuilding of the institution during that time,” Mr Murphy said. 

“I wish all of my colleagues every success as they continue to pursue the Central Bank's important goals of financial stability, consumer protection and market integrity."

In a statement announcing his resignation, the Bank said Mr Murphy will step away from all supervisory activities that could give rise to potential conflicts of interest.

Former Central Bank deputy governor Stefan Gerlach left the regulator at the end of last year, shortly after the retirement of former Governor Patrick Honohan. 

Current FBD chief executive Fiona Muldoon left her former job as head of banking supervision in 2013, following the exit of former deputy governor Matthew Elderfield, who terminated his contract early and joined Lloyds Banking Group in London.

The bank has also lost Elderfield's deputy, Jonathan McMahon, head of enforcement Peter Oakes and credit union registrar James O'Brien.

Governor Professor Philip Lane said Mr Murphy had made a significant contribution since he joined in 2010, and had been a key member of the bank’s senior management team.

“His contributions to the organisation have been highly valuable and we would like to wish him well in his future career,” the Governor said.

Meanwhile, Permanent TSB chief executive Jeremy Masding has announced the appointment of Mark Coan as Group Commercial Director.

Mr Coan will have responsibility for the management and development of the Group’s commercial agenda including responsibility for product development, brand and marketing activities across both traditional and digital channels.

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