Business Irish

Saturday 23 September 2017

The Punt: Maybe this time Central Bank will get lucky

Lars Frissel
Lars Frissel

Having suffered from a spate of top-level departures over the past year, the Central Bank has been trying to plug the gaps. Last week, it was the turn of Fiona Muldoon, its head of credit institutions and insurance, to announce that she was headed for the door. She's been with the Central Bank for two years.

Director of economics and chief economist Lars Frissel (above) announced in November that he was going to take up a new post with the International Monetary Fund from next March.

The Punt wonders whether he'll have any input into the selection of his successor. Applications for his post close tomorrow.

The Central Bank has been advertising far and wide for the job, including in the 'Economist'. It tells potential applicants that it's looking to hire a chief economist for a five-year fixed term.

"This is a senior position with managerial responsibilities, covering economic and monetary policy analysis and research, financial stability and the collection and analysis of financial statistics," notes the advert.

The watchdog was even making itself available for confidential discussions regarding the role, with Liz Graham, the Central Bank's HR business partner, as she's known.

This time they'll probably be hoping to get someone who actually plans to stick around.

 

'Nice' Ryanair could win prize

THE Centre for Aviation (CAPA) released its list of the world's best airlines and airports last week, naming Turkish Airlines airline of the year.

The Punt wonders if Ryanair will soon have its eye on another prize dished out by CAPA – the low-cost airline of the year gong. This year, it went to US-based JetBlue.

"JetBlue has been consistently ahead of the curve in terms of product innovation, service culture and profitability," gushed CAPA. "Under David Barger's leadership, the carrier has successfully leveraged its strong position at New York JFK (Aer Lingus also uses JetBlue's terminal at the US airport) and pursued further expansion of its innovative partnership programme."

With Ryanair having embarked on a new customer-friendly drive, perhaps it could be in the running for next year.

CAPA launched its awards in 2004, but until 2011 they only recognised airports and carriers within Asia and the Middle East. Since 2012, it's been a global event.

Qantas low-cost offshoot Jetstar has won three times, AirAsia once and Tigerair twice – all were closely modelled on Ryanair.

It will be a sight to behold if Michael O'Leary starts collecting awards from his peers.

 

Tech tycoon bets on jobs market

HOT on the heels of the fillip of greatly boosted employment figures last week, news reaches The Punt that tech tycoon Ray Nolan is investing in the jobs market – indirectly at least.

A business targeting recruitment agencies and headhunters is Nolan's latest venture. Nolan, who founded Hostelworld.com, Ireland's most profitable dot.com, and then sold it for a whopping €200m, has started up Intalex, a new recruiter-to-recruiter business for which he has big plans, we hear.

It's in soft-launch stealth mode for now, but it's described as a new kind of online talent exchange "trading platform" that allows recruiters to "buy and sell" candidates worldwide.

Recruitment professionals can boost their commissions by dealing with each other in a new and private global trading market place, the shtick goes.

All the agencies signed up are vetted by Intalex and as well as the prospect of tasty extra commission, the idea is to cut down on the costs and difficulties associated with international recruitment by providing one private go-to destination for the industry.

Nolan (left) already has some experience of this area – he started social recruiter Worky. The serial entrepreneur is also chairman of Skyscanner, founded and heads up online retail platform XSellCo, and is a chairman and backer of Storyful. He also started the Ultimate Rugby app along with Brian O'Driscoll.

Irish Independent

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