Mary-Elizabeth McMunn: Navigating and responding to change - resilience, innovation and regulation in the funds sector
Speech by Ms Mary-Elizabeth McMunn, Deputy Governor of the Central Bank of Ireland, at the Institute of Bankers in Ireland (IOB), Dublin, 8 June 2026.
Good morning. I am delighted to be here, and many thanks to Mary O'Dea and the IOB for the invitation.
In my remarks today I would like to set out some reflections on the Irish funds sector - its significance, the environment in which it operates, and what we at the Central Bank see as some of the key priorities for the period ahead – a period likely to continue to be characterised by rapid structural change.
As you all know Ireland's funds sector is one of the largest fund domiciles in Europe, and plays a critical role in the global asset management ecosystem.
10 years ago Irish Investment Funds had approximately €1.6 trillion in assets under management across around 6,000 funds. Today those figures are c. €5.6 trillion, in more than 9,000 funds – making Ireland now the third largest funds domicile in the world.
By any measure this is a success story for Ireland, and indeed Europe, and one which has been built through decades of deliberate investment – in legal and regulatory infrastructure, in human capital, in operational capability, and in relationships of trust with investors and asset managers around the world.
But of course with such global significance comes global responsibilities – all the more important amidst global challenges and change.