Fianna Fáil: Cyril Roux departure ‘reminder’ of top pay

Fianna Fáil finance spokesman Michael McGrath has linked the departure of Central Bank deputy governor Cyril Roux and a high level of vacancies at the regulator to restrictions public bodies can pay their top staff.

The Central Bank said yesterday Mr Roux — who has been responsible for financial regulation since late 2013 — was going to the private sector. He was responsible for helping bring Irish banks under the wing of the eurozone-wide Single Supervisory Mechanism, for introducing a regulatory regime for insurers here, and for helping launch the continuing investigation into the widespread abuses by lenders in charging the wrong rates for tracker mortgages.

However, citing a high level of vacancies at the unit responsible for overseeing lenders, Mr McGrath said Mr Roux’s departure was a “reminder” that the Central Bank has difficulties hiring and keeping staff.