Irish central bank appoints top French supervisor as deputy governor

Cyril Roux, previously second-in-command at the French prudential supervisory authority, will join the Central Bank of Ireland as deputy governor with responsibility for financial regulation

The Central Bank of Ireland today appointed Cyril Roux, one of the Banque de France's top supervisors, as its deputy governor for financial regulation.

He replaces Matthew Elderfield, who announced his intention to step down and "pursue other interests" in April. He will join Lloyds Banking Group as director of conduct and compliance in October.

Roux's previous role was at the French prudential supervisory authority – the ACPR – where he served as the first deputy secretary-general since the organisation was formed in March 2010. The ACPR is an independent authority, backed by the Banque de France.

He also has experience in the private sector, with Axa Group, where he worked as a senior strategic auditor and later as the chief operating officer of its structured finance division.

Roux also worked in the French Treasury between 1994 and 1997, as the deputy bureau chief for insurance companies with responsibility for European and international negotiations.

Central Bank of Ireland governor Patrick Honohan said Roux's "extensive relevant experience and skills" were "particularly suited to this challenging role".

Roux will join the central bank on October 1, where he will oversee its credit institutions and insurance supervision, markets, policy and risk, consumer protection and enforcement departments.

Roux said he was "honoured" by the appointment. "I am very aware that restoring the Irish economy to full health requires effective financial supervision. I'm looking forward to joining the central bank with that purpose in mind and to take up where Matthew Elderfield is leaving off."

He becomes the central bank's second deputy governor, alongside Stefan Gerlach, who has responsibility for 'central banking'. Gerry Quinn serves as chief operations officer.

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