BlackRock calls for restoration of Central Bank’s role in promoting financial services sector

Enda McMahon, chief executive of BlackRock’s Irish operations, said the mandate should include support for growth and innovation of the industry

The Central Bank of Ireland’s mandate was changed after the financial crisis. Picture: Fergal Phillips

BlackRock, the world’s largest asset manager, has called for the Central Bank of Ireland to again be given a role in promoting growth in the Irish financial sector, a move that would reverse a landmark policy change stemming from the financial crash.

Enda McMahon, chief executive of BlackRock’s Irish operation, told the Business Post consideration should be given to reinstating the CBI’s “previously combined mandate of investor protection and market integrity, with industry development”.

The ...