Mr Des McCarthy has been announced as the new Chief Executive Officer of Microfinance Ireland (MFI). Mr McCarthy comes to the role with considerable experience in the banking sector and the not-for-profit sector.
Microfinance Ireland provide loans of up to €25000 to small businesses and start-
McCarthy’s expertise in organisational transformation will be particularly important with increased demand for MFI standard, COVID and Brexit business loans and a much-increased loan book after the high demand of 2020 which saw over €27 million in lending.
Mr Des McCarthy Appointed Chief Executive Officer of Microfinance Ireland
Speaking about the announcement the Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, said:
“Congratulations to Mr Des McCarthy, on his appointment as the new CEO of MFI. The months ahead will continue to be challenging for many Irish businesses, and MFI will have an important role to play in helping those struggling with access to funding as the economy reopens. I have no doubt Des will bring real leadership to the role and my department will continue to support MFI in its work. I’d also like to take this opportunity to thank Mr Garrett Stokes, the outgoing CEO for his tremendous work over the last five years, developing MFI into an important and recognised funder for micro businesses in every region of Ireland.”
MFI Chairperson Cyril Forbes said:
“After the strong leadership of Garrett Stokes through very turbulent times over the last five years, not least the huge increase in demand in 2020 as a response to COVID-19, the appointment of Des McCarthy will see another positive leader at a time of change. I am sure Des will continue to promote the strong ethos of support and understanding to our small Irish businesses, many of whom have felt the full impact of the COVID-19 restrictions.”
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