Business Irish

Friday 28 July 2017

Central Bank will 'staff up' to deal with financial firms coming to Dublin post-Brexit - Governor

Central Bank (Stock picture)
Central Bank (Stock picture)
Colm Kelpie

Colm Kelpie

The Central Bank will be able to boost its staff numbers to meet the regulatory demands from an increased number of financial firms looking to move to Dublin as a result of Brexit, Central Bank Governor Professor Philip Lane has said.

The Governor told Bloomberg TV tonight that there would be some level of relocation of companies "depending on how the [Brexit] negotiations go".

He said it was much too early to know at this stage if Ireland would benefit.

"Of course it will be a challenge, but if new business comes along, we will be able to staff up to deal with it," Prof Lane said.

Earlier, the head of the State's National Treasury Management Agency, Conor O'Kelly, told Bloomberg that if the UK continued to "isolate itself", Ireland could benefit.

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