The board of the Central Bank and Financial Services Authority of Ireland is composed of 12 persons. Of these, five hold office on an ex officio basis. That left seven to be appointed by me. However, four of those seven persons must be from the Irish Financial Services Regulatory Authority (IFSRA). Of the four I appointed from the IFSRA board to the board of the Central Bank and Financial Services Authority of Ireland, one was a woman. The other three discretionary posts were filled by persons who had served on the preceding Central Bank board. These persons had given valuable service on the previous board and it was important, from the point of view of continuity, to bring existing Central Bank board members into the new board structure. I am satisfied the structure now in place ensures an appropriate balance of interests, expertise and continuity of membership that copperfastens the strength and independence of the bank. However, it does not lend itself to sudden, radical alterations in the membership of the board at any one time.
I am mindful of the Government's commitment to achieving a greater gender balance on the boards of State bodies and I have already undertaken to have regard to that factor as future vacancies arise on the board of the Central Bank and Financial Services Authority of Ireland.