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Ireland Said to Weigh Bank Regulator Shake-Up Amid Brexit Influx

  • Deputy governor role at central bank may be split in two
  • Split may be along prudential/consumer or local/foreign lines

Ireland’s central bank is considering splitting the role of deputy governor for financial regulation into two positions, according to a person with knowledge of the industry, anticipating the demands the institution may face from an influx of banking jobs post-Brexit.

The central bank may separate the deputy governor role into two positions -- one to manage prudential regulation, overseeing financial stability and banks’ capital levels, and another role in charge of protecting consumers, according to the person, who asked not to be identified as the plans are still under deliberation. A second, less likely, possibility is one role to regulate domestic commercial and retail banking, and another to supervise international banking operations based in Ireland, such as trading and investment banking, said the person.