19/10/2009
Matthew Elderfield, CEO of the Bermuda Monetary Authority (BMA) has been announced as the incoming head of Financial Supervision in the new Central Bank of Ireland.
Elderfield, who is to take up his new position in January 2010, will be responsible for all regulatory activities in the Central Bank, replacing Mary O’Dea who has been Acting Chief Executive of the Financial Regulator since February 2009.
The Irish Minister for Finance Brian Lenihan announced in June 2009 that the Government intended to bring forward legislation to establish a single fully integrated regulatory institution within the Central Bank of Ireland.
Announcing Elderfield’s appointment today (19 October), Central Bank Governor Patrick Honohan said: “I am delighted to welcome Matthew Elderfield to the Central Bank. He has very extensive experience of financial supervision and he has the qualities that are ideally suited to this very challenging role.”
Governor Honohan also thanked Mary O’Dea, saying she had “brought the Financial Regulator through a very difficult time and has introduced significant changes to supervision which will be built on in the coming period.”
Elderfield has been chief executive of the BMA since July 2007. Prior to joining the BMA, he spent eight years at the UK Financial Services Authority as a Head of Department in a variety of posts, responsible for exchange and clearing house supervision, for secondary markets and listing policy and for banking supervision.
In a statement Elderfield said: "I am very much looking forward to joining the Central Bank and to working with my new colleagues and our stakeholders on the challenges facing the financial regulatory system in Ireland."
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WELCOME TO THE Captive Review Cell Company Handbook 2009 – the second edition of our global directory of cell company jurisdictions. Since we last published this directory, the general attitude toward cell companies seems to have shifted up a gear. Whereas single-parent companies have long ruled the captive roost, a slight uptick in the formation of pure captives at the beginning of this year can’t hide the fact that growth in this market is still sluggish.
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We at Captive Review are keeping a close eye on Malta, not only because of its reputation as a high-quality captive domicile, but also because it is on the forefront of Solvency II.
Originally planned as an insurance and reinsurance directive, Solvency II has undoubtedly unnerved the captive insurance industry.
Destrey 14/01/2012 11:14am
Pefrcet shot! Thanks for your post!
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