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Finance sec general John Moran quits

Wednesday, May 07 13:26:56

One of the masterminds of the banking bailout, John Moran, the Department of Finance's secretary general, has announced his resignation.

Mr Moran, who was seconded from the Central Bank two years ago, was the first outsider appointed to lead the Department and was particularly close to Minister for Finance Michael Noonan at the height of Ireland's banking crisis.

A statement from Michael Noonan on the resignation said "It was with great regret that today I accepted a letter of resignation from Mr. John Moran, Secretary General at the Department of Finance. Since John first joined the Department of Finance on secondment from the Central Bank he played a leading role in recapitalising the banking sector and restoring the economy at a very difficult time."

"Since his appointment as Secretary General he has been involved in every significant decision taken by me throughout the bail out programme, including those decisions which saw Ireland successfully exiting the programme. I valued his council during those very difficult times and I wish John every success in the future," the Minister said.

Mr Moran took up his role in 2010 starting out in charge of banking policy in the Department.

Mr Noonan promoted him two years later to the post of secretary general.