Regulator’s new boss is a surprise choice

THE Financial Regulator has named Patrick Neary as its new chief executive.

Mr Neary, who is currently the Regulator’s prudential director, will replace Liam O’Reilly when the latter steps down next February.

The appointment of Mr Neary is a surprise, as the Regulator’s consumer director, Mary O’Dea, was considered favourite for the post. She is the public face of the Regulator’s office and has driven through the introduction of a tough new consumer protection code.