Maurice O'Connell (banker) facts for kids

Maurice O’Connell (born 5 May 1936, died 1 April 2019) was a very important person in Irish finance. He was the governor of the Central Bank of Ireland from 1994 until he retired in 2002. Before that, he also represented Ireland on the European Central Bank's Governing Council until 2001.

Maurice O'Connell: A Key Figure in Irish Finance

Maurice O’Connell was born in Moyvane, County Kerry. His parents, Thomas and Mary O'Connell, were both teachers. He went to St Michael's College Listowel, a school where his grandfather had taught for 50 years. He also studied at Brendan's College Killarney and Maynooth Ecclesiastical College. He earned a master's degree in classics from University College Dublin.

Just like his parents, Maurice first became a teacher. He taught for a while in Switzerland before returning to Dublin, Ireland. Dublin became his home. He joined the civil service in Dublin, spending much of his career in the Department of Finance. He started as an administrative officer in 1962. He worked his way up to become the secretary in charge of the Finance Division. He was also a member of the European Union Monetary Committee from 1998 until 1994.

Helping Ireland's Economy

Maurice O'Connell played a big part during a difficult time for the Irish pound in 1992. He helped protect the currency. This was when Ireland was getting ready for the euro. The changeover from the Irish pound to the euro happened very quickly in 2002. New euro banknotes and coins were ready for everyone to use in just one week.

Because of his important role in this big change, the government asked him to stay in his job a bit longer. This helped make sure the switch to the euro went smoothly. About €129.4 million in banknotes and €970 million in coins were prepared. Maurice O'Connell oversaw both the old Irish pound and the new euro in circulation during the first month and a half of 2002.

Working with Europe's Bank

Maurice O'Connell was also one of the first governors of the European Central Bank. He helped with making the new euro banknotes. He also helped put many new laws into place.

After he retired, the government asked him to review the National Pension Reserve Fund. This was after the market had been very unstable.

Life Outside Work

Maurice O’Connell was married to Marjorie Treacy. They had four children together: two sons and two daughters.