Trinity economics professor Frances Ruane has been appointed director of the Economic and Social Research Institute (ESRI).

Prof Ruane will take up the €170,000 a year position at the end of November and will be responsible for the institute's research programme and internal management.

"The institute has established itself as a major research centre in the social sciences both in Ireland and in Europe. I intend to build on its established strengths and am committed to engaging very actively with all its stakeholders," Prof Ruane said yesterday. Prof Ruane, who is 55, replaces Prof Brendan Whelan who will retire next November. She is currently associate professor of economics in Trinity College Dublin and holds directorships of Depfa Bank, Bord Gáis and is chairwoman of the National Statistics Board.

Welcoming the appointment, ESRI chairwoman Mary Finan said the appointment had come at a time when the ESRI was restructuring itself and making research more relevant to the economy.

"Managerial and governance structures have been thoroughly revitalised and a number of long-term research programmes of national importance initiated. "Prof Ruane has the ability and vision to develop further the ESRI's national contribution in the years ahead," Ms Finan said yesterday.

The ESRI established an international selection committee to fill the position of director. The committee included Department of Finance secretary Tom Considine.