Ireland's central bank on Friday named Ed Sibley as a Deputy Governor, replacing Cyril Roux who left the bank in April.

While Roux was responsible for all financial regulation, a restructuring at the bank means Sibley will have a narrower remit and will be responsible for the supervision of credit institutions, insurance firms and the asset management industry.

Responsibilities for consumer protection, securities and markets supervision and enforcement will be held by the bank's new Director General for Financial Conduct, Derville Rowland, who will report directly to Governor Philip Lane, the bank said in a statement.

Commenting on new appointments at Central Bank today, Governor Philip R. Lane said, "The appointments and the restructuring of financial regulation will provide the Central Bank with strong foundations to carry out its vital financial regulatory mandate in line with our mission to safeguard stability and protect consumers." (Reuters)

Source: www.businessworld.ie