Monday 18 December 2017

Latest setback for Central Bank as Fiona Muldoon resigns

Fiona Muldoon
Fiona Muldoon

The Central Bank has suffered its latest set back with the resignation of Fiona Muldoon, the high profile head of Credit Institutions & Insurance Supervision at the bank.

The Central Bank of Ireland announced today that Ms Muldoon has resigned, and will leave in May next year.

She hit the headlines last year when she compared top bankers to surly teenagers, for their failure to get on top of the mortgage crisis.

It is the latest in a string of resignations at Dame Street. The Financial Regulator Matthew Elderfield stood down earlier this year and has since taken a job at Lloyds Banking in the UK.

The Central Bank’s chief economist Lars Frisell confirmed that he is leaving to take up a job at the IMF, earlier this month.

Fiona Muldoon said:  “I joined the Central Bank of Ireland on my return to Ireland, at a time of great challenge for the financial services industry and for the country.   It has been a privilege to work with so many others on the pressing economic and regulatory issues of the day." 

"I hope I have made a meaningful contribution towards resolving some of those challenges and to the Bank during my time here.  I would like to wish the Governor, the Deputy Governor and all of my colleagues every continued success in their on-going efforts to restore the financial services regulatory landscape in Ireland.”

"Fiona brought great leadership strengths and practical knowledge of the financial services industry to the role.  She has been instrumental in many of the initiatives undertaken by the Bank to address the role of the regulator, the mortgage and SME arrears issues and the stabilisation of the banking sector,” Governor Patrick Honohan said.

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