Tommy Broughan (Dublin North East, Labour)
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Question 87: To ask the Minister for Finance the progress regarding the recruitment of a new head of financial supervision to act under the auspices of the new Central Bank commission; and if he will make a statement on the matter. [27956/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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A key aspect of the proposed reform of the regulatory structures is the appointment of a Director of Financial Supervision, who will be an ex officio member of the new Central Bank of Ireland Commission and will report to the Commission on the regulatory and supervisory functions and objectives of the new structure.

The process of recruiting this new Director of Financial Supervision is already underway, under the auspices of the Central Bank and Financial Regulator, in close consultation with my Department. Sir Andrew Large, former Deputy Governor of the Bank of England and former member of the UK Monetary Policy Committee is also advising on the recruitment process. The position was advertised nationally and internationally last week. The search being undertaken is wide-ranging to ensure that the successful candidate has the necessary calibre, reputation, experience and expertise to lead the reform of the regulatory and supervisory structures.