Senior financial services leaders convene in Dublin to address regulatory, governance and strategic challenges to 2030

Byrne Wallace Shields LLP, in association with BDO and Financial Services Ireland (Ibec), hosted an exclusive leadership forum yesterday at The Shelbourne Hotel, Dublin, bringing together CEOs and senior leaders from across Ireland’s financial services sector.

The event provided a high level platform for discussion on the evolving regulatory, governance and strategic landscape facing Central Bank of Ireland authorised firms, particularly those operating within complex global group structures.

Taking place against a backdrop of increasing geopolitical fragmentation and heightened supervisory expectations, the forum focused on how Ireland’s financial services sector can sustain its competitiveness and credibility while navigating a rapidly changing global environment.

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.

“Ireland has built a reputation as a trusted and respected international financial centre – this status is dependent on having a stable and credible regulatory framework. The Central Bank of Ireland has played a critical role in maintaining confidence in our systems and ensuring that Ireland is recognised internationally for its innovation with robust oversight.”

Key themes: governance, global complexity and emerging risks 

Across a series of panel discussions and expert insights, speakers examined key opportunities and challenges facing the sector, including:

• Board authority and accountability within global group structures, balancing local regulatory obligations and parent company oversight
• US and EU regulatory developments, including enforcement trends, AI governance and extraterritorial risk
• Operational resilience and risk management in an increasingly digital and interconnected environment
• Geopolitical fragmentation and its implications for cross border financial services firms
• Emerging risks to 2030, including cybersecurity, geopolitics, technological disruption, AI, and Ireland’s competitiveness as an international financial hub. 
  

Commenting on the Summit, David Naughton, Partner and Head of Investment Funds and Financial Services Regulation at Byrne Wallace Shields LLP said:

“This forum reflects the importance of bringing senior leaders together to engage directly on the complex challenges shaping the future of financial services. These types of forums also facilitate a rational exchange of views between industry and policy makers which enables a common understanding among all stakeholders in our industry.

“As regulatory expectations continue to evolve and global structures become more complex, it is critical that firms operating in Ireland remain proactive, well governed and forward looking.

“Trust is our licence to operate – integrity must underpin every decision. The leaders who will succeed are those who will navigate the challenges, embrace innovation and leverage key opportunities such as AI.”

Colin Feely, Partner, Financial Services at BDO, added: 

“The benefit of an event like this morning is that we, as a collective group of people, comprising of industry leaders, lawyers, professional advisors, advocacy bodies and regulators, can recognise and harness the benefit of shared experiences, discussing future challenges and combining our efforts to assist policy makers in a positive manner. 

“This event will become an annual gathering because it is important. Ireland is important and we should recognise that our voice and opinions are relevant to the greater regulatory environment in which we operate.”  

The forum featured contributions from a distinguished panel of industry leaders and international experts, including:

• John J. Carney, Partner, BakerHostetler (USA)
• Adrian Mulryan, CEO, Invesco
• Meliosa O’Caoimh, Ireland Country Head, Northern Trust
• Siobhán Fay, Managing Director, St. James’s Place International plc
• Kevin O’Loughlin, CEO, Nostra
• Adrian Whelan, Global Head of Market Intelligence for Investor Services, Brown Brothers Harriman
• Niamh Hore, Head of Group Investor Relations and External Communications, AIB
• Doireann O’Daly, Partner, Investment Funds and Financial Services Regulation, Byrne Wallace Shields LLP

The event was moderated by Joe Lynam, Business Editor and Presenter with Newstalk.