The Central Bank has announced two key appointments today, as well as the first appointments to the newly established Risk Advisers Panel.
Peter Oakes has been appointed as Assistant Director General of the newly restructured Enforcement division of the Central Bank.
Mr Oakes, a solicitor with 20 years experience in financial services and commercial matters, founded and is currently the Managing Director of Compliance Ireland and City Compliance.
These organisations advise and train banks and other financial/insurance firms on corporate governance, regulatory compliance and financial crime issues in Ireland, the UK, South Africa, United Arab Emirates and Australia.
Gareth Murphy has been appointed Assistant Director General of the restructured Markets Supervision division.
Mr Murphy spent 13 years in the hedge fund and investment banking industries and served as Senior Advisor in the Financial Stability Directorate of the Bank of England.
These two appointments complete the Central Bank's new senior management team for regulatory functions. Mr Oakes and Mr Murphy will take up their roles in October 2010.
New appointments have also been made in the Insurance Supervision division, which has been split into two separate departments: wholesale and retail. Fiona McMahon is the new Head of Retail Insurance Supervision and Colette Drinan has been appointed as the new Head of Wholesale Insurance Supervision.
The first three appointments to the new panel of Risk Advisers have also been announced. Michael Burke, Aidan Cassells and Liam Manahan are the first appointees to the panel, which comprises senior financial industry professionals with an extensive range of specialist skills and expertise.
The panel will provide advice and support to the Central Bank in the assessment and mitigation of risks in financial institutions.
Further experts with a range of skills and experience will be announced in due course, according to Financial Regulator Matthew Elderfield.
