Donnery appointed to Central Bank post

Sharon Donnery is taking over from Fiona Muldoon as the director of credit institutions at the Central Bank with immediate effect.

Ms Donnery, who is currently registrar of credit unions, will continue in that role until a successor has been appointed, said the Central Bank.

Announcing the appointment, Central Bank deputy governor Cyril Roux said: “I am delighted to announce the appointment of Sharon as director of credit institutions. She takes up this role at a particularly important time with the establishment of the single supervisory mechanism.”

Ms Muldoon announced last January that she would be leaving the bank to pursue other opportunities. She was widely tipped to take over the role of deputy governor following the resignation last year of Matthew Elderfield.

However, last August the Central Bank announced that Mr Roux would be taking over from Mr Elderfield. There has been a considerable amount of upheaval at the bank over the past few years. The chief economist, Lars Frisell, who joined the bank in 2012, announced in January that he was leaving to join the IMF.

Under plans for EU banking union, many of the current supervisory responsibilities of the Central Bank will be transferred to the ECB in Frankfurt.