The Central Bank has announced the departure of Ed Sibley, its deputy governor of prudential regulation, when his term ends on August 31st. Mr Sibley, who was appointed to the position in 2017, intends to pursue opportunities in the Irish private sector.
He will now step away from frontline regulatory and supervisory responsibilities, with interim arrangements set to be announced “in due course”, the Central Bank said.
Central Bank governor Gabriel Makhlouf said his resignation would be "a loss to the Central Bank and the European financial regulatory family" and paid tribute to his "enormous contribution" to the resilience of the financial system.
"I would like to thank him for his leadership and commitment to the Bank and in the area of financial regulation. I would particularly like to thank him for leading prudential regulation in Ireland, his work on the supervisory board of the ECB, his commitment to resolution of long-term mortgage arrears in the Irish financial system, and more recently the development of the bank's new strategy," he said.
Mr Sibley said it had been an “immense privilege” to work for the Central Bank over the past decade.
“The bank has strong foundations to continue to deliver for the people of Ireland. I wish the bank every success in delivering on the important work the bank is mandated to deliver, as well as the important transformational change that is required.”
Mr Sibley is one of two deputy governors of the Central Bank, the other being the deputy governor of central banking, Sharon Donnery.
He grew up near Southampton in England and worked for the Financial Services Authority in the UK and also held a number of roles with both Bank of Ireland and PwC before joining the Central Bank in 2012.
He was previously head of the supervisory section of banking supervision and director of credit institutions supervision before becoming deputy governor.