Business Irish

Tuesday 20 February 2018

Central Bank hires Gerlach to fill deputy governor role


Laura Noonan

A PROMINENT German professor who has done extensive research on the eurozone crisis is to become the next deputy governor of the Central Bank of Ireland.

The University of Frankfurt's Stefan Gerlach is to take up the position on September 1, on an annual salary of about €250,000.

The Central Bank confirmed yesterday that Mr Gerlach would replace retiring Tony Grimes and take over his portfolio of "central banking functions".

Mr Gerlach's career includes a stint as chief economist at the Hong Kong Monetary Authority.

More recently, he has been Professor of Monetary Economics at the University of Frankfurt since 2007.

Central Bank Governor Patrick Honohan yesterday said he was "delighted" to welcome Mr Gerlach.

"He brings exceptional skills to the role," he said.

He also paid tribute to Mr Grimes, saying the Central Bank had "benefited enormously" from his input.

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