Joan Burton (Dublin West, Labour)
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Question 160: To ask the Minister for Finance his views on the statement from the Corporate Governance Association of Ireland expressing concerns about the internal appointment of directors at a bank (details supplied); the reason he allowed these appointments to proceed when his preference was for an external candidate to become chief executive officer of the bank; his views on whether these internal appointments send out the wrong signals to the international investment community; and if he will make a statement on the matter. [44971/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I share the concerns of the Corporate Governance Association of Ireland. However, I would like to make clear that the arrangement to which the Deputy refers has been agreed to purely as an interim measure and it is not foreseen that this situation will persist beyond the short term.

Regarding the appointment of internal candidates, I would remind the Deputy that this is a matter for the bank in the first instance. I am aware that a search to fill the position of Chief Executive Officer of the specified bank was carried out using professional recruitment consultancy services, and that this search was extensive and international in nature.

The Deputy also raised the question of signals being sent to the international investment community. In response, I would point to the signals being sent by this Government that it is far from business as usual in the Irish banking sector. Reform of the regulatory structure is being advanced and as the Deputy will be aware I have intervened in the matter of the level of salary for the incoming managing director of the particular bank.