THE HEAD OF financial regulation at the Central Bank Matthew Elderfield is 
stepping down from his position, the Central Bank has said.
In a statement, Elderfield says he is planning to return to his 
home in London to pursue other interests. He has been the deputy 
governor of the Central Bank with responsibility for financial regulation 
since January 2010.
Elderfield has told the Central Bank that he is waiving the €100,000
 bonus he is entitled to at the end of his contract of employment.
“It has been a great privilege to be a public servant in Ireland in such 
challenging times,” said Elderfield. “But after some six years away, it is time 
to return home to London.”
Elderfield was the CEO of the Bermuda Monetary Authority before 
he moved to Ireland.
Central Bank Governor Patrick Honohan praised Elderfield for his 
work in the role, which came under the auspices of the Central Bank 
after the banking collapse.
“Although it was always evident to me that we were very likely to 
have Matthew with us for only a few years, it is sad that this period is
 now drawing to a close,” said Honohan.
He said that the “institutional structures [Elderfield] has built and
 the work practices he has inculcated will endure as his lasting legacy.”
Elderfield will officially step down in six months’ time. The Central Bank 
said he will step away “with immediate effect from involvement in 
supervisory and other issues if and where a conflict could be perceived.”