Central Bank markets supervisor Gareth Murphy quits

Murphy follows in wake of Honohan, Elderfield and Gerlach

Gareth Murphy, director of markets supervision at the Central Bank: the bank has seen a series of high-profile departures in recent times

Gareth Murphy, director of markets supervision at the Central Bank: the bank has seen a series of high-profile departures in recent times

 

The Central Bank has lost another senior figure as Gareth Murphy, director of markets supervision, resigned his post after six years.

Mr Murphy is understood to be planning to join the private sector, though it is not clear if he will be remaining in Ireland.

“Gareth oversaw the complex task of funds and markets supervision in a forward-looking and effective manner, and has made a signal contribution to financial regulation in Ireland,” said Cyril Roux, deputy governor with the bank in charge of financial regulation.

“That contribution is well-recognised domestically and internationally. I wish to thank Gareth for his work at the bank, and wish him well for the future,” he said in a statement.

A spokeswoman for the bank said that Mr Murphy, who previously worked with the Bank of England, JP Morgan and the now-defunct hedge fund management firm Long Term Capital Management, was not available for comment.

High-profile departures

The Central Bank has seen a series of high-profile departures in recent times. Patrick Honohan retired as governor of the organisation last year, almost a year before his contract was due to expire.

A series of senior people hired following the near-collapse of the financial system, including Matthew Elderfield, Stefan Gerlach, Jonathan McMahon, Fiona Muldoon and Peter Oakes, have departed in recent years.

“The last six years has been a period of unprecedented change at the Central Bank and it has been a privilege to have had the opportunity to contribute to the rebuilding of the institution during that time,” Mr Murphy said in the Central Bank statement.