The Government has agreed today (5 July 2016) to nominate Andrew McDowell for the position of Vice-President of the European Investment Bank (EIB).
As Economic Adviser to the Taoiseach since 2011, Mr McDowell has 20 years of experience in economic policy development and public service management and has worked closely with the Taoiseach, Ministers, senior civil servants and other stakeholders on the policies needed to restore economic growth and job creation to the Irish economy.
The EIB is the European Union's bank, owned by and representing the interests of the European Union Member States. It works closely with other EU institutions to implement EU policies such as economic growth, job creation and environmental sustainability.
The Department of Finance will now notify the EIB Secretariat of the agreed nomination from Ireland’s Constituency and request the Secretariat to commence the Bank’s selection and approval process for the post of Vice President, including the initiation of the voting process by the Bank’s Board of Directors and subsequently the Bank’s Board of Governors representing each EU Government.
Welcoming the decision by the Government, Taoiseach Enda Kenny said “As an economic and policy adviser to me Andrew played a vital role in the last Government which guided Ireland out of an international bailout and back on the path to recovery. He played a leading part in the formation of the new Partnership Government and his counsel will be sorely missed by its members. His new role will enable him to shape EIB’s policies in the future and I am sure Ireland will continue to avail of optimum levels of EIB investment. I wish Andrew and his family well as he moves onto a new challenge with the European Investment Bank."
Minister Michael Noonan added, “Following the completion of the appointment process by the EIB, I have the utmost confidence that Andrew will fulfil his responsibilities to shape the EIB’s investment strategy in the coming years to the benefit of all EU members, while also becoming a significant additional source of informal influence on Ireland’s behalf at the EIB.”
Ends
Note for Editors and Curriculum Vitae summary
The Management Committee of the EIB consists of the President of the EIB and eight Vice-Presidents. The Committee is the Bank’s permanent executive body. Under the authority of the President and the supervision of the Board of Directors, it oversees the day-to-day running of the EIB, prepares decisions for Directors and ensures that these are implemented by the Bank’s management and staff.
Mr McDowell’s nomination by the Government follows a public selection process launched by the Minister for Finance on June 1. An advertisement inviting expressions of interest from suitably qualified candidates for the position was placed on the website of the Department of Finance and which was linked to the website of the Public Appointments Service. The Department issued a press release to attract attention to the advertisement and the Public Appointments Service highlighted the position via targeted emails and texts to its client base who had registered an interest in senior level positions.
Applications from ten candidates were received and, following a short-listing process, five candidates were interviewed on July 1 by a Selection Committee chaired by the Secretary General of the Department of Finance and which included the Secretary General of the Department of the Taoiseach along with the Chairs of the Policing Authority and the Low Pay Commission. The Selection Committee subsequently nominated three candidates for the Minister’s consideration.
CV Summary
Andrew McDowell
Career Summary
Economic Adviser to the Taoiseach
· Head of Policy and Programme Implementation, Office of An Taoiseach
· Worked with the Taoiseach and Minister for Finance, as well as other senior Government Ministers and officials, to design and oversee implementation of Government economic policy, via the Cabinet Committee System
Chief Economist and Manager of the Competitiveness Division of Forfas
· Worked with Irish Government Departments and development agencies to agree economic development strategies across a wide range of areas, including infrastructure priorities, enterprise financing and skills development
· Managed Forfás’ interaction with Government Departments and agencies on transport, energy, communications and waste infrastructure and regulatory policy
European Deputy Editor of the Economist Intelligence Unit
· Edited and wrote the EIU's Country Reports and Country Forecasts for several European countries, including Ireland, Portugal, Spain, Greece and Italy
· Analysed economic performance and country risk, including economic growth, interest and exchange rates, inflation, unemployment and trade.
Qualifications
Masters in Business Administration (MBA)
The Michael Smurfit Graduate School of Business, University College Dublin (UCD)
· 1st Class Honours (1st in year for overall result; Dean’s List 2004)
· UCD Winner of the IMI Sir Charles Harvey Business Student of the Year Award
Post-Grad in International Economics and European Studies
Paul H. Nitze School of Advanced International Studies, The Johns Hopkins University
· Graduated in the top 5% of a class of 150 European and American students
· Winner of the "Grove-Haines Prize for Research Paper of the Year"
· Concentrations: International Monetary Theory, Advanced Topics in International Economics, International Political Economy, Politics of European Integration
Masters in Business Studies (Finance)
The Michael Smurfit Graduate School of Business, University College Dublin (UCD)
· Concentrations: Corporate Finance, Financial Theory, Financial Economics, Securities Analysis and Portfolio Management, Treasury Management
Bachelor of Commerce (Economics and Banking)
University College Dublin