Sharon Donnery appointed acting Central Bank governor

Central Bank of Ireland deputy governor Sharon Donnery has been appointed as the institution's interim governor, pending the arrival of the incoming head of the bank, Gabriel Makhlouf in September.

Ms Donnery, an economist who has been with the bank since 1996, was the most hotly tipped person on the shortlist of five candidates that were seeking to succeed outgoing governor, Philip Lane, who is set to join the European Central Bank's executive board next month.

“Under the Central Bank Act, the acting governor has all the responsibilities and powers of the governor,” the bank said on Friday. “During this period Ms Donnery will also continue to perform her role as deputy governor, central banking.”

UK civil servant

Mr Makhlouf, a former top UK civil servant who has been serving as the chief executive and secretary to the New Zealand Treasury since 2011, was announced last week as the next governor of the Irish Central Bank. The surprise appointment makes him the first overseas official to fill the post in the organisation’s 76-year history.

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Born in Cairo in 1960 to a Cypriot-British father and Greek-Armenian mother, Mr Makhlouf spent his earliest years travelling as his father pursued a career as United Nations official. The holder of an honours degree in economics from the University of Exeter and a masters in industrial relations from the University of Bath, he began his career in 1984 as a tax inspector.