Central Bank governor posts YouTube message on first day

New Central Bank governor Philip Lane has posted a YouTube video on his first day in the job in which he promises staff he will keep "in regular touch, through blogs, more video messages and also directly".

The YouTube message, filmed in the Central Bank’s headquarters on Dublin’s Dame Street, is addressed to its workforce.

“I’m sure we can work together to create a modern, progressive central bank, one that is a fulfilling and enjoyable place to work,” Prof Lane says in the two-and-a-half minute video.

He also says he wants to ensure “continuity” in its work after Patrick Honohan’s six-year reign as governor.

“Over the years I have certainly benefited from Patrick’s insight, wisdom and knowledge. He has been especially helpful in the last few weeks when we worked together on the handover. Patrick’s contribution as governor was critical for the bank and for Ireland,” Prof Lane says.

‘Good or bad’

The new governor, who has joined the bank from Trinity College Dublin’s economics department, says he wants employees to share their opinions of the bank, “good or bad”.

Collecting this internal feedback may take some time. At the end of 2014, the Central Bank employed 1,364 staff and it has been hiring throughout 2015.

Next year, its employees in Dame Street will begin moving into its new building on North Wall Quay.

“It is essential we have a culture of collaboration, innovation and communication,” Prof Lane says.

“We have a complex mandate. Not all the decisions we make will be popular or easily understood, but I know we will act in the public interest in safeguarding stability and protecting consumers.”

Prof Lane enters the bank as controversy swirls over the payment of retention bonuses to selected staff. As his first day drew to a close, the Unite union said its members within the bank would vote on a motion of no confidence in the senior manangement of the institution.