MEP for Dublin Brian Hayes has announced he stepping down from politics and is taking up a role in the financial services industry.
Mr Hayes announced his decision on Twitter saying he would not be contesting the European Parliament elections next year.
"I am announcing today that I will not be contesting next year’s European Parliament elections, said Mr Hayes in a statement.
"My decision brings to an end to my role in active front line politics, something that has been a constant in my life over the last 25 years."
I am announcing today that I will not be contesting next year’s European Parliament elections. My decision brings to an end to my role in active front line politics, something that has been a constant in my life over the last 25 years. pic.twitter.com/aRRBPBcGaW— Brian Hayes (@brianhayesBPFI) November 6, 2018
Mr Hayes said he informed Taoiseach Leo Varadkar of the decision yesterday and thanked him "for understanding and respecting my decision."
The Fine Gael MEP said he would see out his term saying "I gave a promise to the people of Dublin that if elected in 2014 that I would serve a full five-year term in the European Parliament.
"I stand by that commitment and therefore will serve out my mandate."
Mr Hayes said that at the end of his term he will be talking up a new role as CEO of the Banking and Payments Federation Ireland.
"Given my work over the past 10 years as opposition spokesperson, Deputy Finance Minister and Vice President of the Economic and Monetary Affairs Committee of the European Parliament, I understand the important role and responsibility of the Banking and Payments Industry to Ireland," said Mr Hayes.
In his statement, Mr Hayes also addressed Brexit, saying all Irish MEPs "must continue to make the case for Ireland in their respective political groups across the European Parliament.
"I am especially conscious of my responsibility as an Irish MEP, given what is at stake for Ireland, to continue in my role until the Brexit outcome is known."
- Digital Desk