EU appoints McGuinness as new financial services chief

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.