Brian Cowen, Ireland's Minister for Finance, on Tuesday announced the appointment of Brian Hillery and Dermot O’Brien as Directors of the Central Bank and Financial Services Authority of Ireland.
Hillery and O'Brien will replace Roy Donovan and Martin O’ Donoghue, who will be stepping down from their positions.
Mr Cowen also announced that Jim Farrell, currently a member of the Irish Financial Services Regulatory Authority, is to be appointed Chairman of that Authority, to replace Brian Patterson who is stepping down.
Tony Grimes has been appointed to fill the ensuing vacancy on the Authority.
In addition, Cowen recorded his appreciation to Mr Donovan and Dr O’Donoghue for their contribution to the Central Bank Board over the past five years.
He also recorded his deep appreciation to Mr Patterson for his critical role in overseeing the establishment of the Financial Regulator.
Mr Cowen has also approved the proposal of the Authority to re-appoint Mary O’Dea as Consumer Director for a further term.
All appointments take effect from 1st May, 2008.
Other than the changes outlined, the memberships of the Central Bank and Financial Services Authority of Ireland and of the Irish Financial Services Regulatory Authority remain unchanged.
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