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ECB's Hurley to step down on Sept 25 - Central Bank

Sat Jun 27, 2009 5:28pm IST
 
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DUBLIN (Reuters) - John Hurley, the governor of Ireland's central bank and a member of the European Central Bank's Governing Council, will retire from the positions on Sept. 25, his spokesman said on Saturday.

Hurley's term in office at Ireland's central bank was due to end in March but he agreed to stay on longer to ensure a steady hand during the financial turmoil that has hit Ireland hard.

The government has not named his successor. Hurley, a former secretary general at the finance ministry, was appointed central bank governor in 2002.

The government plans to reform Ireland's financial regulatory system after a string of banking scandals that damaged the country's international reputation and led to the departure of the chief executive of the financial regulator.

The new structure will merge the central bank and financial regulator into the Central Bank of Ireland Commission, chaired by the governor of the central bank.

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