HomeBussinessSharon Donnery to leave Central Bank for ECB role

Sharon Donnery to leave Central Bank for ECB role


Related stories

Ireland slips to fourth in world competitiveness rankings

Ireland has dropped two places from last year in...

Cliffs of Moher revenues up as visitor numbers recover

Revenues at the country’s most popular natural visitor attraction,...

Ryanair’s Michael O’Leary says Ireland needs nuclear power, but not near his estate

Outspoken airline chief suggests Wexford as possible site and...

Major travel warning for thousands of GAA and music fans ahead of busy weekend

AN URGENT warning has been issued for thousands of...

Central Bank deputy governor Sharon Donnery. Photo: David Conachy

Central Bank of Ireland Deputy Governor Sharon Donnery is to leave the bank for a senior European role, a departure that echoes Philip Lane’s move to join the European Central Bank (ECB) five years ago.

Sharon Donnery was the first woman appointed a deputy head of the Central Bank of Ireland, in 2016, as well as the first to serve as interim Governor following Philip Lane’s move to Frankfurt.

The Governing Council of the European Central Bank (ECB) has appointed Sharon Donnery along with two other candidates, Pedro Machado and Patrick Montagner, as the ECB representatives to the Supervisory Board of ECB Banking Supervision, for five-year non-renewable terms.

Sharon Donnery had been Ireland’s member of the ECB’s Supervisory Board.

The move means she will leave her role at the Central Bank of Ireland where it is understood a process to appoint a replacement will begin imminently.

In Ireland Sharon Donnery has most recently been responsible for financial regulation and is one of two deputy governors, along with Vasileios Madouros, who is also members of the Central Bank Commission, effectively the institution’s board.

The law limits the number of deputies who act as ex-officio members of the Commission to two and historically the Central Bank has only had two deputies and one Govenor.

In 2022 a third Deputy Governor, Derville Rowland, who was appointed but without a seat on the Commission.

It is understood the bank plans to continue with its three-deputies structure.

Commenting on her move Sharon Donnery said said he was delighted to have been appointed to the role at the European Central Bank.

“I am excited to be joining an institution of such calibre and standing and look forward to starting my new role at the end of the year.”

She is expected to will remain at the Central Bank of Ireland until late 2024 when she’ll take up her new role.

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories