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Thread: Matthew Elderfield to step down in 6 months

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    Default Matthew Elderfield to step down in 6 months

    Just on Pat Kenny now, further details to follow.

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    Politics.ie Member ruserious's Avatar
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    Has waved 100k bonus. Admirable.
    Boycott the "Irish" Sun rag.

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    Statement - Matthew Elderfield

    9 April 2013

    The Central Bank of Ireland is today announcing that Matthew Elderfield will step down from the position of Deputy Governor in six months’ time. He plans to return to the United Kingdom to pursue other interests.

    Central Bank Governor, Patrick Honohan said: “Matthew accepted the role of financial regulator at a key moment in the history of the State. With energy, commitment and integrity he has managed the necessary transformation in our approach to the stabilisation, regulation and supervision of financial institutions. He has contributed enormously to the organisational effectiveness of the Central Bank. Although it was always evident to me that we were very likely to have Matthew with us for only a few years, it is sad that this period is now drawing to a close. We will miss him greatly, though the institutional structures he has built and the work practices he has inculcated will endure as his lasting legacy.”

    Mr Elderfield said: “It has been a great privilege to be a public servant in Ireland in such challenging times. But after some six years away, it is time to return home to London. With the help of a fantastic team at the Central Bank, I feel we have built a strong regulator and set Ireland on a path to financial stability. I am very grateful for all the support I have had during my time here and will remain a friend of Ireland for years to come.”

    Mr Elderfield has advised the Commission of the Central Bank that he has waived his €100,000 bonus entitlement at the end of his contract of employment.

    Mr Elderfield will step away with immediate effect from involvement in supervisory and other issues if and where a conflict could be perceived.

    Mr Elderfield commenced his role at the Central Bank of Ireland in January 2010. He was previously the CEO of the Bermuda Monetary Authority from June 2007.

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    Politics.ie Member sic transit's Avatar
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    He's done a very good job in the post and it's a pity he's off. Odd to have that sentiment about a banker.
    "There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self." Ernest Hemingway

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    Politics.ie Member Aindriu's Avatar
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    Bang goes an efficient regulator. No doubt we will have a gombeen Irishman to replace him.
    If you continue to elect idiots in elections, don't be surprised when the result is an idiotic government.

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    He must be getting out before the Quinn lawyers get stuck into the detail
    of why Quinn's Insurance company was taken from him.

    Remember this is the quy who was earning over 1 million in some island
    and then came to take a 300k job in Ireland, funny hah!

    The Insurance industry in the UK is safe again.
    Its hard to break up the monopolys
    Last edited by kkkkkkkkkk; 9th April 2013 at 01:09 PM.
    Why is the Legal Profession still SELF REGULATED in the year 2015, this is a crazy situation.

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    Politics.ie Member cyberianpan's Avatar
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    With John Moran gone to Finance and Jonathan McMahon departed to the Promontory Group this means Honohan is the only member of the top team left who has dealt with the banking crisis.

    I sincerely hope that they get a quality replacement, preferably from outside Ireland again.

    cYp
    "Yawn , am I alive yet ?"

  9. #9

    Default Bye, bye, Matthew Elderfield; hello 6 month break for banks?

    Has Matthew Elderfield just become a lame-duck Regulator? Although he is Deputy Governor, he is undoubtedly the main man when it comes to banking regulation, with Patrick Honohan more of a figurehead.

    Does this give the banks an excuse to drag the mortgage mess out for another 6-12 months?

    In fairness to Elderfield, he is waiving his end of contract bonus (why he has one, I am not sure); his CV is looking good now for his next job.

    Recently, Mr Peter Oakes resigned his position as Director of Enforcement; what does this do for banking regulation in Ireland? Just who is in charge?


    The Central Bank of Ireland is today announcing that Matthew Elderfield will step down from the position of Deputy Governor in six months’ time. He plans to return to the United Kingdom to pursue other interests.

    Central Bank Governor, Patrick Honohan said: “Matthew accepted the role of financial regulator at a key moment in the history of the State. With energy, commitment and integrity he has managed the necessary transformation in our approach to the stabilisation, regulation and supervision of financial institutions. He has contributed enormously to the organisational effectiveness of the Central Bank. Although it was always evident to me that we were very likely to have Matthew with us for only a few years, it is sad that this period is now drawing to a close. We will miss him greatly, though the institutional structures he has built and the work practices he has inculcated will endure as his lasting legacy.”

    Mr Elderfield said: “It has been a great privilege to be a public servant in Ireland in such challenging times. But after some six years away, it is time to return home to London. With the help of a fantastic team at the Central Bank, I feel we have built a strong regulator and set Ireland on a path to financial stability. I am very grateful for all the support I have had during my time here and will remain a friend of Ireland for years to come.”

    Mr Elderfield has advised the Commission of the Central Bank that he has waived his €100,000 bonus entitlement at the end of his contract of employment.

    Mr Elderfield will step away with immediate effect from involvement in supervisory and other issues if and where a conflict could be perceived.

    Mr Elderfield commenced his role at the Central Bank of Ireland in January 2010. He was previously the CEO of the Bermuda Monetary Authority from June 2007.
    Central Bank of Ireland - Statement - Matthew Elderfield


    EDIT to include: http://www.rte.ie/news/business/2013...in-six-months/
    Last edited by ShoutingIsLeadership; 9th April 2013 at 01:20 PM.
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    Politics.ie Member Mysterion's Avatar
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    Wonder who will replace him...

    Will Enda do a Bertie and appoint a "friend"...

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