London-based Lloyds Banking Group this week announced that Matthew Elderfield will join the firm in October 2013 as group director conduct and compliance. In his new post, Elderfield will be tasked with overseeing all compliance and conduct risk activities as well as developing the group's conduct strategy.

Elderfield, 47, is currently the deputy governor of the Central Bank of Ireland, in charge of financial regulation. He joined the Central Bank in 2010, and is one of three executive members of its commission. He previously served as alternate chair of the Management Board and Board of Supervisors of the European Banking Authority.

“With a strong and diverse background in financial regulation and business conduct, Matthew brings a wealth of experience to the group,” Juan Colombas, chief risk officer of Lloyds Banking Group, said. “I look forward to him building on the work already being done through our compliance and conduct team.”

Prior to joining the Central Bank of Ireland, Elderfield was the chief executive of the Bermuda Monetary Authority from 2007 to 2009. He also spent eight years working for the UK Financial Services Authority in various positions.

“I am delighted to be joining Lloyds Banking Group's senior management team, and look forward to contributing to the delivery of their commitment to high standards of conduct and compliance,” Elderfield said. “This is an important time of change in the UK financial services industry, with the formation of the FCA and PRA and far-reaching changes in the way customers are treated. After a very rewarding experience in Ireland in challenging circumstances, I look forward to applying my regulatory experience to this new opportunity.”

A British citizen, Elderfield received his bachelor's degree in foreign service, cum laude, from Georgetown University in 1987, and a master's degree in international relations from Cambridge University in 1988.