The Central Bank has appointed Sharon Donnery to the role of director of credit institutions.

Ms Donnery, the current Registrar of credit unions, will assume the role from Fiona Muldoon, who is due to leave the Central Bank on May 1st. In addition to her role overseeing credit institutions Ms Muldoon also headed insurance supervision, but according to the Central Bank, it has decided to appoint a director to each specific area "to oversee the increased regulatory scrutiny and requirements in these areas". The process of appointing a director for insurance supervision is ongoing, according to the Central Bank.

Announcing the appointment, Central Bank deputy governor, Cyril Roux, said: "I am delighted to announce the appointment of Sharon as director of Credit institutions. She takes up this role at a particularly important time with the establishment of the Single Supervisory Mechanism (SSM)".

Ms Donnery has worked with the Central Bank since 1996 when she joined as an economist. She was head of consumer information and subsequently head of consumer protection prior to her appointment as Registrar of credit unions. Ms Donnery will continue in her role as Registrar until a successor has been appointed.