The Minister for Finance, Mr Brian Lenihan TD, today (19 October 2009) welcomed the announcement of the appointment of Mr Matthew Elderfield as the Head of Financial Supervision in the new Central Bank of Ireland. Mr Elderfield’s appointment comes as a result of a wide-ranging and comprehensive international search to fill this post.

As announced by the Minister on 18 June last the regulatory structures for financial regulation are being reformed through the establishment of a new Central Bank of Ireland, chaired by the Governor, with responsibility for both the supervision of individual firms and the stability of the financial system generally. The Head of Financial Supervision will be responsible for the regulatory and supervisory functions and objectives of the Central Bank of Ireland.

The Minister said: “The appointment of Mr Elderfield, particularly given his extensive international regulatory experience, is a key step in the restructuring of financial services regulation in Ireland.”

19^th October 2009

ENDS