Mark Cassidy appointed to the Central Bank’s Financial Stability Position

The central bank has appointed chief economist Mark Cassidy as its new director for financial stability after his recent tenure as acting deputy governor.

Cassidy will take up the role in November, stepping down from his previous position as Director of Economics and Statistics, which he had held since January 2018.

In his new role, Mr. Cassidy will be responsible for overseeing threats to Ireland’s financial stability and developing a framework for managing and mitigating those risks.

That will put him at the center of some of the central bank’s most hotly debated policies, such as the notoriously tight mortgage measures that Governor Gabriel Makhlouf eased just this week.

Mr. Cassidy will also lead the regulator’s preparation for financial crisis management, a key role in recent years as the central bank has had to develop responses first to the Covid-19 pandemic and then to the Russian invasion of Ukraine – two events with significant financial implications .

The Financial Stability Role also oversees the orderly resolution of insolvent financial institutions.

“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,” said Mr. Makhlouf.

“We have an ambitious strategy that represents a renewal and repositioning of the central bank. Our strategy aims to ensure our direction and ambition is responsive and forward-looking over the next five years. I am pleased that Mark has agreed to take on this important role and I look forward to working with him and the rest of the leadership team to execute our strategy.”

Mr. Cassidy recently ceded his position as acting Deputy Governor to Vasileios Madouros, who was promoted to Deputy Governor for Monetary and Financial Stability on a permanent basis.

Mr. Cassidy had been in the role since May following a reshuffle prompted by the departure of Ed Sibley, a senior official. Mark Cassidy appointed to the Central Bank’s Financial Stability Position

Fry Electronics Team

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