The Group of Governors and Heads of Supervision (GHOS), the oversight body of BCBS, has appointed Pablo Hernández de Cos, Governor of the Bank of Spain, as the new Chairman of the Basel Committee on Banking Supervision, effective immediately. Mr Hernández de Cos, succeeds Stefan Ingves, Governor of Sveriges Riksbank, who has chaired the Basel Committee since July 2011. As set out in the Committee's Charter, the Chair is appointed for a term of three years that can be renewed once.
Mario Draghi, GHOS Chairman and ECB President, said "the GHOS expresses its gratitude to Stefan Ingves for his strong leadership of the Basel Committee over the past eight years. Under his leadership, the Committee completed its wide-ranging post-crisis Basel III reforms, which have increased the resilience of the global banking system and enhanced its ability to support the real economy. The GHOS looks forward to working with Pablo, as the Committee increasingly focuses its work on evaluating its post-crisis reforms, addressing emerging vulnerabilities in the global banking system, and promoting strong supervision."
Related Link: Press Release
Keywords: International, Banking, BCBS Chair, Leadership Changes, Pablo Hernández de Cos, Bank of Spain, BCBS, BIS
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