Patrick Honohan to head Central Bank

FINANCE Minister Brian Lenihan formally appointed former World Bank economist and Trinity College Dublin economics professor Patrick Honohan as the new governor of the Central Bank yesterday.

Mr Honohan replaces John Hurley, who is set to retire at the end of this month.

Mr Lenihan said that Mr Honohan has already provided valuable advice to his office and “will be of enormous value in working through the difficulties which the Irish financial system faces”.