Tuesday 25 September 2018

Central Bank chief Patrick Honohan set to retire


Patrick Honohan
Patrick Honohan

The Governor of the Central Bank has announced his retirement six years after assuming the role - and one year before his tenure ends.

Patrick Honohan (65) succeeded John Hurley in 2009 and is largely credited with shepherding the country through the aftermath of the banking crisis.

Prof Honohan (inset) was appointed head the Central Bank shortly after the bank guarantee.

A lecturer at Trinity College, he was a professor in International Finance Economics and Development for several years before the took on the mammoth task of restoring confidence in the country's banks.

An expert in the field of finance and economics, he sat on the European Central Bank's Council from 1976-84, before becoming a senior adviser for the World Bank on financial sector policy.

He has also worked at the ESRI (Economic and Social Research Institute), International Monetary Fund and for Taoiseach Garret Fitzgerald as an adviser.

A spokesperson for the Central Bank said Minister for Finance Michael Noonan has been made aware of Mr Honohan's plans.

Mr Honohan is expected to explain his decision to leave at the publication of the Central Bank's annual report this morning.

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