Minister for Finance nominates Irish Director at the European Bank of Reconstruction and Development (EBRD)

On 28 May, the Government approved a proposal from the Minister for Finance, Michael McGrath TD, to nominate Mr. Brendan O'Connor as his nominee for Director at the European Bank of Reconstruction and Development (EBRD), for the period of three years from August 2024 to July 2027.

Mr O’Connor was chosen following an open competitive process, where requests for expressions of interest were sought by the Minister, and a competitive interview process was held. He has worked as an economist for over 20 years and joined the Department of Finance in 2011, where he is currently head of macroeconomics. He has built up an excellent profile with key domestic and international stakeholders on economic issues and in international working parties. He leads the Department’s macroeconomic engagements with international institutions including the IMF, the European Commission and the OECD, along with ratings agencies. He is the co-chair of a key OECD working party and a member of the EU Economic Policy Committee. In addition, he has published a number of policy and academic articles and was jointly awarded the Miriam Hederman-O’Brien prize by the Foundation for Fiscal Studies in 2018.

Minister McGrath stated

“I am delighted to nominate Mr. O’Connor to this important strategic role at the EBRD in London. Mr. O'Connor has played a critical role in the Department of Finance over the last decade. Pending approval by the EBRD Board of my nomination, I believe Mr. O’Connor will be an excellent representative for Ireland and our EBRD Constituency partners at the EBRD, in what will be a critical period in the Bank’s existence, and I will look forward to working with him in this new role.”

A formal process of election at the EBRD has commenced to confirm Mr. O’Connor’s appointment.

ENDS

Note for Editors

About the EBRD

The EBRD was founded in April of 1991 and is headquartered in London. The original purpose of the Bank was to foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiative in Central and Eastern Europe. Ireland was a founding member of the EBRD and is represented on the Board of Governors by Michael McGrath TD, Minister for Finance.

The EBRD now works in almost 40 different countries in Southern and Eastern Mediterranean, Central and Eastern Europe, and Central Asia. It is publicly owned by shareholders in 73 countries, including the European Union and the European Investment Bank.

Our constituency partners are Denmark, Lithuania and Kosovo at the Bank.

The EBRD Bord of Directors, composed of twenty three members of high competence in economic and financial matters, is responsible for the strategic direction and general operations of the Bank. It establishes policies and takes decisions concerning loans, equity investments and other operations in conformity with the general directions of the Board of Governors.

Further information is available at: https://www.ebrd.com/what-we-do.html