Sunday 28 May 2017

Former UK regulator is appointed by Central bank

Thomas Molloy

Thomas Molloy

THE Central Bank has named a 36-year-old history graduate as one of the bank's new assistant director generals.

Jonathan McMahon (inset), a former UK regulator who helped develop rules for the London-based Financial Services Authority (FSA) and investigated several securities firms, was named as assistant director general with responsibility for financial institutions supervision, a new post created to bolster the bank's supervision of the financial services sector.

He will report to the head of financial regulation, Matthew Elderfield, who also hails from Britain.

Mr McMahon managed supervision and research teams at the FSA for seven years and also led the team that developed the FSA's policy on hedge funds as well as taking part in European Union negotiations.

The St Andrews University history graduate most recently worked for London-based Promontory Financial Group, a consulting firm made up of former senior regulators who advised on complex financial and regulatory matters.

For the past four years Mr McMahon worked closely at Promontory with both banks and public sector bodies globally during the financial crisis, the Central Bank said in a statement yesterday. He also worked at Deloitte and Touche for less than a year.

Irish Independent

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