Strong senior representation and regulatory insight
The forum featured a keynote address from Mary-Elizabeth McMunn, Deputy Governor Financial Regulation, Central Bank of Ireland, who discussed three critical themes shaping international financial services: global fragmentation and rapid technological change, the importance of resilience and local responsibility, and how the Central Bank is delivering on its commitment to regulating and supervising well.
Deputy Governor McMunn said that Ireland's international financial sector – home to significant parts of global banking, insurance, asset management and fintech – operates within a highly interconnected global economy. While fragmentation is a key narrative and focus, the sector remains deeply interconnected internationally.
She stressed that firms should advocate for convergence and apply the best standards internationally, rather than the lowest standards locally. The Deputy Governor then outlined her expectations for internationally-orientated firms: subsidiaries based in Ireland must be part of a well-regulated, stable jurisdiction, subject to high standards and risk-based supervision.
She highlighted that while access to global networks, infrastructure and best practices presents distinct opportunities, firms have clear responsibilities to ensure their Irish and European franchise is substantive and well governed – with boards demonstrating both autonomy and responsibility.
Deputy Governor McMunn then spoke about the Central Bank’s progress on gatekeeping and the simplification agenda, and introduced publication of the annual Authorisation and Gatekeeping report. Opening remarks were delivered by Patricia Callan, Head of Sectors at Ibec and Director of Financial Services Ireland, who addressed Ireland’s continued position as a leading global financial services hub, emphasising the importance of regulatory credibility, talent and infrastructure in maintaining competitiveness.
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