European Commission reshuffle : Valdis Dombrovskis named new EU trade commissioner and Mairead McGuinness picked as Ireland’s new commissioner

European Commission Executive Vice President Valdis Dombrovskis will be the EU’s new trade commissioner and Mairead McGuinness will be the new Irish commissioner with responsibility for financial services, Commission President Ursula von der Leyen announced on September 8, 2020. Dombrovsksis, who has served as acting trade commissioner since the resignation of Phil Hogan last month, will relinquish some of the current responsibilities in his broad economic portfolio. Mrs McGuinness has served for a long time in the European Parliament, she will now be the Commissioner in charge of financial services, financial stability and capital markets union. Her significant political experience on EU issues, having been an MEP since 2004 and currently holding the post of first vice president of the European Parliament, will be an asset in carrying forward the EU’s financial sector policy agenda and ensuring its supports and strengthens the Commission’s key priorities, notably the twin green and digital transition.