Government nominates Gabriel Makhlouf for re-appointment as Governor of the Central Bank of Ireland
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From: Department of Finance
- Published on: 3 March 2026
- Last updated on: 3 March 2026
The Tánaiste and Minister for Finance Simon Harris TD, announced today that the Government has agreed to nominate Mr. Gabriel Makhlouf for re-appointment by the President as Governor of the Central Bank of Ireland.
Mr. Makhlouf took up his position as Governor of the Central Bank of Ireland on 1 September 2019. As Governor he chairs the Central Bank Commission, is a member of the Governing Council of the European Central Bank, a member of the European Systemic Risk Board and is Ireland's Alternate Governor at the International Monetary Fund.
Commenting on the nomination, the Tánaiste and Minister for Finance, Simon Harris stated:
“I am pleased to announce the Government has agreed to nominate Mr. Gabriel Maklhouf for re-appointment as Governor of the Central Bank of Ireland. Mr. Makhlouf is eminently qualified to perform the role of Governor of the Central Bank and the Government was pleased to support his nomination for reappointment.
During his first term, Mr. Makhlouf introduced reforms and enhancements that have strengthened the Central Bank and will continue to positively impact its performance. I wish him every success as he continues to lead the organisation in the years ahead.”
Mr Makhlouf’s second term will commence on 1 September 2026.
Notes for Editors
- Appointment Process
Section 19(1) of the Central Bank Act 1942, as amended, sets out that the Governor of the Central Bank of Ireland shall be appointed by the President on the advice of the Government. Today’s decision is the Government’s recommendation to the President to appoint Mr Makhlouf to the role of Governor.
- Re-appointment Process of Governor
Section 19(4) of the Central Bank Act 1942, as amended, states that the President on the advice of the Government may appoint a person holding office as Governor for a further period of 7 years to take effect at the end of the person's current period of appointment.
- Role of the Governor of the Central Bank of Ireland
The Central Bank of Ireland is the responsible authority for central banking and financial regulation in Ireland, and the roles and responsibilities of its Governor and Commission are set out in the EU Treaties, the European System of Central Banks (ESCB) Statute and the Central Bank Act 1942. The Governor of the Central Bank of Ireland has extensive functions and powers in relation to safeguarding macro financial stability and consumer protection. These include specific powers around financial stability, financial regulation and the governance and supervision of the broader financial sector. The Governor chairs the Central Bank Commission and is also a member of the Governing Council of the European Central Bank.
- Biography of Gabriel Makhlouf
Gabriel Makhlouf took up his position as Governor of the Central Bank of Ireland on 1 September 2019. He chairs the Central Bank Commission, is a member of the Governing Council of the European Central Bank, a member of the European Systemic Risk Board, and is Ireland's Alternate Governor at the International Monetary Fund.
Before joining the Central Bank, Gabriel Makhlouf was Secretary to the New Zealand Treasury and its Chief Executive from 2011 to 2019. He was the New Zealand Government’s chief economic, financial and regulatory adviser, providing advice on the Government’s overarching economic framework, on its fiscal strategy and on achieving value for money from its investments.
He was responsible for the development of a new framework for economic and fiscal policy-making and he oversaw reforms of New Zealand’s three macroeconomic ‘pillars’ (monetary policy, financial stability and fiscal policy). He was a leader of the diversity and inclusion agenda in New Zealand’s public and private sectors.
Gabriel Makhlouf also had roles in the UK civil service where his responsibilities ranged from the leadership of large-scale, public-facing delivery organisations of up to 10,000 people (HM Revenue and Customs’ Debt Management & Banking Directorate) through to policy development on domestic and international issues. He was Chair of the world’s main tax rule-making body – the Committee on Fiscal Affairs – at the OECD in Paris and was also responsible for the UK’s Government Banking Service.