EU Commission reshuffle: trade and financial services portfolios move

European Commission President Ursula Von Der Leyen proposed that Irish MEP Mairead McGuinness from the European People’s Party (EPP) be appointed as future Commissioner for financial services. 

This reshuffle was triggered by the resignation of Phil Hogan, the former Irish Commissioner for trade, on August 26. 

Under this proposal, the financial services portfolio will move from Executive Vice-President Valdis Dombrovskis’ portfolio to McGuiness. In return, Dombrovskis will take on the powerful and much-coveted trade portfolio. 

EU trade policy is wide-ranging in nature – touching upon a number of practice areas such as digital & tech, energy & environment, healthcare and transport. 

This latest change in personnel will have implications across sectors. FIPRA’s stable of in-house experts and special advisors can assist in understanding what these changes mean for your business.