Ireland invites applications for central bank governorship

Ministry of finance invites ‘expressions of interest’ in the post

Concept image of a cloud question mark

Ireland's minister for finance fired the starting gun on the hunt for the next central bank governor yesterday (July 23) – inviting "expressions of interest" in the post.

Incumbent Patrick Honohan will step down shortly before the end of his term in September, and several potential successors are already being discussed by central bank watchers.

On its website the department of finance outlines a range of qualities it is looking for in candidates, starting with "excellent influencing, organisational and leadership skills that will build and maintain effective relationships with stakeholders inside and outside the central bank".

It also lists "excellent policy-making skills" and "senior experience of working in a central bank or financial institution or in a financially significant organisation" as desirable attributes.

The importance of good management skills is driven home, as the department emphasises its preference for someone with "extensive experience" managing or overseeing a large organisation.

The department has hired an Irish executive search firm, Merc Partners, to help with the process, which it noted will "screen" all expression of interest. There will also be an element of proactivity to the search.

"To ensure as broad a search as possible, this call for expressions of interest will be accompanied by an extensive national and international executive search process to identify suitably qualified candidates in Ireland and abroad," the department said.

Honohan's salary and fees totalled €254,048 last year – though he chose to sacrifice €57,048 of this, bringing his pay more in line with other public officials who experienced wage caps in the wake of the financial crisis. The closing date for expressions of interest is September 1.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.