The Central Bank appointed Sharon Donnery to the role of Deputy Governor (Financial Regulation) with effect from July 1.

The Central Bank said Ms Donnery's responsibilities will include that of Deputy Governor (Prudential Regulation).

The role also includes additional responsibilities to strengthen the Central Bank's input into the development of domestic and international financial regulatory policy and lead on its strategic priority to transform its approach to supervision and regulation.

Sharon Donnery will become a member of the European Central Bank's Supervisory Board, which has responsibility for directly supervising the largest banking groups in the euro area.

She has spent the last six years as Deputy Governor leading the Central Bank's Economics and Statistics, Financial Stability and Financial Operations Directorates and working as the Governor’s alternate on the ECB Governing Council.

Earlier this year, Ed Sibley, the Deputy Governor of the Central Bank with responsibility for Prudential Regulation, said he would leave the bank at the end of August.

The Central Bank also said today that the position of Deputy Governor (Central Banking) is being renamed as Deputy Governor (Monetary and Financial Stability), with Director of Economics and Statistics Mark Cassidy appointed on an acting basis to the role pending the outcome of an open competition.

Robert Kelly, currently Head of the Bank's Macro-Financial Division, has been appointed to act in Mark’s place.

The job title of Deputy Governor (Consumer and Investor Protection) replaces Director General Financial Conduct. The change in title reflects the importance of consumer and investor protection at the heart of the Bank’s mission and strategy.

Central Bank Governor Gabriel Makhlouf said the bank has 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. I am delighted Sharon has agreed to take on a new set of Deputy Governor responsibilities and I look forward to working with her, and the rest of the senior team on the delivery of the strategy," he added.