Mairead McGuinness MEP selected as new Commissioner for the EU financial services portfolio
8 September 2020: The announcement by EU Commission President von der Leyen marks the second time an Irish member has held the financial services portfolio (for Financial Services, Financial Stability and Capital Markets Union). She fills the role vacated by the EU's new Trade Commissioner Valdis Dombrovskis, and, his predecessor, Lord Jonathan Hill, who resigned on the day after the Brexit vote in the midst of his pursuit of the strategy for European Capital Markets Union, a cause he, as Commissioner, had championed.
See: Editorial Comment
In a statement this morning, Commissioner-designate McGuinness said she 'is honoured to have been selected by the President of the European Commission, Ursula von der Leyen, as the Irish Commissioner-designate today'.
Mairead McGuinness:
Mairead McGuinness: "The financial services portfolio cuts across all policy areas. It is fundamental to European citizens, businesses, SMEs, and how the EU recovers from the Covid-19 pandemic. The EU Green Deal will require sustainable finance to drive actions across all sectors of the economy".

Speaking from Brussels she said: " I want to thank President von der Leyen for the trust she is placing in me.

"The focus now is on the next steps in the European Parliament and Council.

"The financial services portfolio cuts across all policy areas. It is fundamental to European citizens, businesses, SMEs, and how the EU recovers from the Covid-19 pandemic. The EU Green Deal will require sustainable finance to drive actions across all sectors of the economy.

"As an MEP for 16 years, I have seen at first-hand how the EU is a positive force for change. I have worked to strengthen cooperation between the EU institutions and to bring them closer to people."

"I want to thank An Taoiseach, Micheal Martin, Tanaiste Leo Varadkar and Green Party Leader Eamon Ryan for putting my name forward with Andrew McDowell, a person for whom I have great respect.

"I will now focus on preparing for the European Parliament hearing and will not be making any further comment", McGuinness added.

Further Background:
Editorial Comment: in the September edition of Finance Dublin, published this week.