Business

EU appoints McGuinness as new financial services chief

Posted October 12, 2020 4:19 a.m. EDT
Updated October 12, 2020 4:20 a.m. EDT

FILE - In this Thursday, Oct. 25, 2018 file photo, Irish Parliament member Mairead McGuinness attends a session at the European Parliament in Strasbourg, eastern France. EU Commssion President Ursula von der Leyen announced on Tuesday, Sept. 8, 2020 that European Parliament heavyweight Mairead McGuinness will become the EU's new financial services commissioner. (AP Photo/Jean-Francois Badias, File)

The European Union has appointed Ireland's Mairead McGuinness as the new commissioner in charge of financial services.

After European lawmakers approved her appointment last week, the Council and EU Commission President Ursula von der Leyen made the move official on Monday.

McGuinness previously served as the European Parliament vice-president and is a respected figure in EU circles. She was nominated for the role following the resignation of the previous Irish commissioner, Phil Hogan, who stepped down after he became embroiled in a controversy over a trip home to Ireland and questionable adherence to COVID-19 rules.

Hogan was in charge of trade, a portfolio that was handed to Latvian commission vice-president Valdis Dombrovskis, who has been holding the post temporarily since Hogan’s resignation on Aug. 26.

Our commenting policy has changed. If you would like to comment, please share on social media using the icons below and comment there.