BIS Appoints Head of Innovation Hub and Leaders of Central Bank Groups

The following key appointments were made at the meeting of the central bank governors:

• Jerome Powell, the FED Chair has been appointed as Chair of the Global Economy Meeting (GEM) and the Economic Consultative Committee, after consultations with members of the GEM. The GEM and the ECC are among the principal meetings held at the BIS every two months. The appointment takes effect on February 01, 2020 for a three year-term. Mr. Powell succeeds Mark Carney, the BoE Governor, who has chaired the two groups since December 2017.
• The BIS Board also appointed John Williams, President and Chief Executive Officer of the New York FED, as Chair of the BIS Consultative Council for the Americas (CCA), an advisory committee to the Board. His two-year term starts on January 09, 2020. 
• Central bank Governors of the GEM appointed Sir Jon Cunliffe, Deputy Governor of BoE, as Chair of the CPMI. His three-year term starts on January 01, 2020. Sir Jon succeeds Benoît Cœuré, a member of the Executive Board of ECB, who has been CPMI Chair since September 2013. 
• Separately, the Group of Governors and Heads of Supervision (GHOS), the BCBS governing body, has selected François Villeroy de Galhau, Governor of the Bank of France, as its new Chair after consultations among its members. His three-year term starts immediately. He succeeds Mario Draghi, the ECB President until October 31, 2019, who had chaired the GHOS since July 2013.
• The BIS Board elected ECB President Christine Lagarde as a member, replacing Mr. Draghi. 

Related Links

• Press Release on Innovation Hub
• Press Release on Other Appointments

Keywords: International, Europe, Americas, EU, US, UK, Leadership Changes, CPMI, BCBS, BIS