Economist Danny McCoy is leaving the Economic & Social Research Institute (ESRI) to join business lobby group Ibec as director of economic policy.

He takes up the post following the retirement of the outgoing director, Brian Geoghegan.

Mr McCoy has been editor of the ESRI's quarterly economic commentary report since February 2000, when he rejoined the institute from the research department of the Central Bank.

Ibec's director general Turlough O'Sullivan said he had asked Mr McCoy to acquaint himself quickly with the lobby's members and become familiar with their difficulties and challenges.

Mr O'Sullivan said he was delighted to welcome such an eminent economist to the organisation, adding that Mr McCoy brought with him a wealth of knowledge on economic and business matters.

He looked forward to "lively economic commentary and representation that would reflect the business realities for members operating in a highly competitive global marketplace".

In addition to his work at the ERSI and the Central Bank, Mr McCoy has held full-time lecturing posts in the business school at Dublin City University and at University College London. He currently lectures in Trinity College, but intends to end this work shortly.