Colm Kincaid Appointed Deputy Governor of Central Bank

The Central Bank of Ireland has appointed Colm Kincaid as its new Deputy Governor for Consumer and Investor Protection, effective from August 1, 2023. He succeeds Derville Rowland, who departed in May to take on a role with the newly established European Anti-Money Laundering Authority (AMLA). Kincaid previously served as the Central Bank’s Head of Enforcement.

As Deputy Governor, Kincaid will join the Central Bank’s executive leadership team, which has evolved since 2022 to include an additional governor. Despite this expansion, the law restricts the number of deputy governors who can serve as ex-officio members of the Central Bank Commission—its governing board—to two. Currently, these positions are held by Mary-Elizabeth McMunn, appointed last year as Deputy Governor for Financial Regulation, and Vasileios Madouros, who has been in the role of Deputy Governor for Monetary and Financial Stability since 2022.

Kincaid has a robust background in law and financial regulation. He began his career as a solicitor after earning a law degree from Trinity College Dublin. His professional journey includes stints at global law firm Linklaters and Ireland’s A&L Goodbody, as well as a period with banking giant Merrill Lynch. After joining the Central Bank in 2004 and returning in 2010, Kincaid has held several senior legal and executive roles, including Director of Consumer Protection and Director of Securities and Markets Supervision.

The appointment was officially announced by Governor Gabriel Makhlouf, who emphasized Kincaid’s extensive experience in consumer-focused financial regulation. “Colm brings over two decades of experience, legal expertise, and strategic leadership to the role,” said Makhlouf. “His commitment to upholding the highest standards of consumer welfare and market integrity has been a hallmark of his work at the Central Bank of Ireland. He will continue the Bank’s focus on this crucial element of our mandate.”

Kincaid’s extensive qualifications and experience place him in a strong position to address the challenges in consumer and investor protection, ensuring the Central Bank remains responsive to the needs of the public and the financial markets. His leadership will be pivotal as the Central Bank seeks to maintain its commitment to safeguarding consumer interests in an evolving financial landscape.