Central Bank appoints new director of financial stability

The Central Bank of Ireland has appointed Dr Mark Cassidy as director of financial stability.

He will take up his role on November 1st and is moving from the position of director of economics and statistics, which he has held since January 2018. Dr Cassidy has been acting deputy governor for monetary and financial stability and a member of the Central Bank Commission since July.

As director of financial stability, he will be a member of the Central Bank’s senior leadership team which has overall responsibility for delivery of its strategy and its transformation agenda. He will be responsible for the bank’s work to monitor threats to financial stability and develop the framework for employing macroprudential tools, or other policy interventions, to mitigate those risks. He will also be responsible for enhancing the bank’s financial crisis preparedness and management capabilities as well as preparing for, and managing, the orderly resolution of relevant financial institutions.

Announcing the appointment, Central Bank governor Gabriel Makhlouf said: “I am very pleased to announce the appointment of Mark Cassidy as director of financial stability. He brings a wealth of experience in macroeconomics, financial stability and central banking to the role.

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“I would also like to take this opportunity to thank Mark for his leadership of the economics and statistics directorate over the past five years.

“We have an ambitious strategy, which represents a renewal and repositioning for the Central Bank. Our strategy aims to ensure that our direction and ambitions over the next five years are responsive and forward looking.”