BIS Management
BIS Management is under the overall direction of the General Manager, who is responsible to the Board of Directors for the conduct of the Bank. In accordance with the Bank's Statutes, the General Manager is assisted by the Deputy General Manager.
Current members
Pablo Hernández de Cos, General Manager
Mr Hernández de Cos served as Governor of the Bank of Spain from 2018 to June 2024. During his tenure, he was a member of the Governing Council of the ECB and Chair of the Basel Committee on Banking Supervision from 2019 to 2024. He also held key leadership roles, including membership in the Financial Stability Board and the BIS Group of Governors and Heads of Supervision.
Mr Hernández de Cos began his career at the Bank of Spain in 1997, where he held various roles, including Director General Economics, Statistics and Research. He also served on the boards of the International Center for Monetary and Banking Studies and the Foundation for Applied Economic Studies. His expertise spans macroeconomics, fiscal and monetary policy, and financial stability.
Mr Hernández de Cos holds a PhD in economics from the Complutense University of Madrid. He also has a degree in economics and business administration from CUNEF Universidad and a degree in law from the UNED.
Andréa M Maechler, Deputy General Manager
Ms Maechler was a member of the Governing Board of the Swiss National Bank (SNB) from 2015 until 2023. At the SNB, she was responsible for the Money Market and Foreign Exchange, Asset Management, Banking Operations and Information Technology portfolios.
Prior to joining the SNB, she was Deputy Division Chief in the Global Markets Analysis Division of the International Monetary Fund. She has worked at other international organisations, including the European Systemic Risk Board and the Organisation for Economic Co-operation and Development.
She was Chair of the Global Foreign Exchange Committee of central banks from December 2021 to June 2023. Ms Maechler has a PhD and a master's degree in International Economics from the University of California, Santa Cruz, and a Diploma of Higher Studies (DES) in International Relations from the Graduate Institute of International Studies in Geneva, Switzerland.
Véronique Sani, Secretary General
Véronique Sani became Secretary General of the BIS on 1 December 2024.
Véronique Sani, Secretary General
Prior to joining the BIS, Ms Sani was Chief Operating Officer of Natixis, the global financial services subsidiary of BPCE. In this role she was responsible for its global technology, operations, procurement, real estate and transformation strategy. Prior to joining the BPCE group, she spent 16 years at Société Générale in senior leadership positions in India, New York and Paris, holding a number of global roles including Chief Executive Officer of the Global Solutions Centre, Global Head of OTC Derivatives Operations and Global Head of Equity Derivatives Operations.
Ms Sani holds a master's degree in finance from HEC Grande École, Paris.
Luis Bengoechea, Head of Banking Department
Luis Bengoechea was appointed Head of the BIS Banking Department in June 2024.
Luis Bengoechea, Head of Banking Department
Mr Bengoechea joined the BIS in 1998 and, during his long career at the institution, he has held, among others, the positions of Head of Interest Rates Group, responsible for managing the money market and interest rate derivatives businesses, and Acting Head of Credit Markets Group, managing the Credit Group business. In 2022, in addition to his position as Head of Treasury, he was appointed as Deputy Head of BIS Banking Department.
Before joining the BIS, Mr Bengoechea worked in the global market division of a large US commercial bank, dealing mainly with fixed income and derivatives.
Mr Bengoechea holds degrees in law, business administration and psychology.
Frank Smets, Acting Head of Monetary and Economic Department and Head of Economic Analysis and Statistics
Mr Smets joined the BIS in December 2024 from the ECB, where he was Adviser to the Executive Board. Previously, he was Director General of Economics, Adviser to the President of the ECB and Director General of Research at the ECB. He started his career at the BIS, where he worked until 1998. He held the BIS Alexandre Lamfalussy Senior Research Fellowship in 2023.
Mr Smets is a recognised expert on monetary economics and monetary policy. He holds a PhD in economics from Yale University. His research includes work on monetary, macroeconomic, financial and international issues, mostly related to central banking.
Tommaso Mancini-Griffoli, Head of the BIS Innovation Hub
Prior to joining the BIS, Mr Mancini-Griffoli was an Assistant Director at the International Monetary Fund (IMF). In this role he was responsible for payments, currencies and financial market infrastructures including digital money and finance. In former roles, he led work on monetary policy and central banking operations. Prior to joining the IMF, Mr Mancini-Griffoli was a senior economist in the Research and Monetary Policy Division of the Swiss National Bank, where he advised the Board on quarterly monetary policy decisions. Earlier in his career, he worked in the private sector at Goldman Sachs, the Boston Consulting Group and technology startups in Silicon Valley.
Mr Mancini-Griffoli holds a PhD from the Graduate Institute in Geneva, as well as degrees from the London School of Economics and Stanford University.
Dessislava Guetcheva-Cheytanova, General Counsel
Dessislava Guetcheva-Cheytanova was appointed General Counsel on 1 September 2024.
Dessislava Guetcheva-Cheytanova, General Counsel
As Head of the Legal Service, Ms Guetcheva-Cheytanova serves as a member of the Bank's Executive Committee.
Ms Guetcheva-Cheytanova joined the BIS in 2020 as Deputy General Counsel, providing legal advice on a broad range of issues.
Before joining the BIS, she served as Director, Chief Counsel Corporate at the European Bank for Reconstruction and Development and also worked at the Organisation for Security and Cooperation in Europe.
She holds a Master of Law degree and a Master of International Economic Relations degree from the University of National and World Economy (Bulgaria) and a Master of Law degree from the University of London.
Bertrand Legros, Deputy Secretary General
Bertrand Legros became Deputy Secretary General of the BIS in February 2017.
Bertrand Legros, Deputy Secretary General
Mr Legros joined the BIS in 2005 as a risk analyst and became Head of Risk Methodology in 2006. From 2011 until 2014, he was Head of Business Applications in the Information Management Services department, where between 2014 and 2015 he was Head of Architecture and Applications. He was also Head of Corporate Security from 2015 to 2021.
Before joining the BIS, Mr Legros worked at various firms in Brussels, Luxembourg and Geneva.
Mr Legros holds a master's degree in civil engineering from the Université de Liège, an MBA from Vlerick Business School, and a master's and PhD from IE Business School.
Nithya Navaratnam, Deputy Head of Banking Department
Nithya Navaratnam was appointed Deputy Head of the BIS Banking Department in July 2024.
Nithya Navaratnam, Deputy Head of Banking Department
Nithya Navaratnam is the Deputy Head of the BIS Banking Department. In addition, she oversees the Middle Office, Banking Systems and Operational Services units of the department.
Ms Navaratnam joined the BIS in 2020 as the Head of Credit Risk Management. Previously she held leadership roles at Goldman Sachs in credit risk management across their New York and Singapore offices.
She is a CFA charterholder, and holds a bachelor's degree in Computer Engineering, a Master of Science in Financial Engineering and an MBA in Finance from Columbia University.
Gaston Gelos, Deputy Head of the Monetary and Economic Department and Head of Financial Stability Policy
Mr Gelos represents the BIS externally in senior groups, including the Financial Stability Board and the Basel Committee on Banking Supervision. Within the BIS, he leads policy-based analyses of financial sector issues and oversees the work of the secretariats of the Committee on the Global Financial System, the Markets Committee, and the Committee on Payments and Market Infrastructures.
He joined the BIS in September 2023 from the International Monetary Fund (IMF), where he served in various senior roles, including as head of the Monetary and Macroprudential Policies Division and previously as head of the Global Financial Stability Analysis Division. Other positions at the IMF included stints as Resident Representative to Argentina and Uruguay, as Advisor in the IMF Institute, and as Mission Chief for Mexico, among others.
Mr Gelos's research has focused mainly on financial stability, monetary policy and capital flows, and has been published widely in leading academic journals. Mr Gelos holds a PhD from Yale University and a Diplom from Bonn University. He is a CEPR Research Fellow.
Fernando Restoy, Chair of the Financial Stability Institute
He had been Deputy Governor of the Bank of Spain since 2012. Previously, he held other senior positions at the Bank of Spain, which he joined in 1991. From 1995 to 1997, he was Economic Advisor and Head of the Monetary Framework Section at the European Monetary Institute in Frankfurt. Mr Restoy was Vice Chair of the Spanish Securities and Markets Commission (CNMV) from 2008 to 2012 and Vice Chair of the IOSCO Technical Committee (now Board). He was the Chairman of the Spanish Executive Resolution Authority (FROB) from 2012 to 2015 and was a Member of the Supervisory Board of the ECB's Single Supervisory Mechanism from 2014 to end 2016.
He holds an MSc in econometrics and mathematical economics from the London School of Economics and an MA and PhD in economics from Harvard.
Jens Ulrich, Head of Risk Management
Jens Ulrich became Head of Risk Management in 2017.
Jens Ulrich, Head of Risk Management
Jens Ulrich became Head of Risk Management in 2017. In this role he is in charge of the unit responsible for overseeing the financial and operational risks arising from the Bank's own activities. He reports to the Deputy General Manager.
Mr Ulrich joined the BIS in 1996 as a credit risk analyst and became Head of Treasury Risk Control in 2002. From 2003 to 2017, he held the position of Head of Risk Control. In 2000-01, he worked as a Financial Risk Management Specialist at the International Finance Corporation in Washington DC.
Mr Ulrich trained as an economist at the University of Freiburg and the University of Wisconsin.
Tao Zhang, Chief Representative for Asia and the Pacific
Tao Zhang has been Chief Representative of the BIS office for Asia and the Pacific since September 2022. Prior to this, he was Chairman of the Supervisory Board at the People's Insurance Company (Group) of China. He has also served as Deputy Managing Director of the International Monetary Fund (IMF) in Washington DC, in 2016–21, and as Deputy Governor of the People's Bank of China, in 2016.
Mr Zhang has extensive experience as a policymaker both in the international arena and at the national level in China. As the IMF's Deputy Managing Director, he oversaw the Fund's engagement with more than 100 member countries, with a portfolio that ranged from financial stability policies, fintech and digital currencies, climate change, sustainable growth and gender issues to engagement with other international and regional organisations.
Mr Zhang also held senior positions with the People's Bank of China, China's central bank, where he headed up various different departments. Earlier in his career, he worked as an economist at the World Bank and the Asian Development Bank.
Mr Zhang has a doctorate and a master's degree in International Economics from the University of California, Santa Cruz, and a bachelor's and a master's degree in science from Tsinghua University, China.
Alexandre Tombini, Chief Representative for the Americas
Before joining the BIS, he was Executive Director of the Board at the International Monetary Fund for Brazil, Cabo Verde, the Dominican Republic, Ecuador, Guyana, Haiti, Nicaragua, Panama, Suriname, Timor-Leste and Trinidad and Tobago. Previously, he was with the Central Bank of Brazil, where he served as Governor and also in the roles of Deputy Governor for Financial System Regulation and Deputy Governor for Economic Research. He also held positions as a Board member of the BIS and Chairman of the Standing Committee on Budget Resources of the Financial Stability Board.
Mr Tombini holds a PhD in economics from the University of Illinois at Urbana-Champaign.
Advisory committees
The General Manager and the Deputy General Manager are supported by senior management advisory committees.
The Executive Committee and the Finance Committee are chaired by the General Manager and include other senior members of the Bank's Management.
The Executive Committee advises the General Manager primarily on the Bank's strategic planning and the allocation of resources, as well as on decisions related to the broad financial objectives for the banking activities and operational risk management.
The Finance Committee advises the General Manager on the financial management and policy issues related to the banking business, including the allocation of economic capital to risk categories.
Former members
General manager
Agustín Carstens was the General Manager of the BIS from 1 December 2017 to 30 June 2025.
Prior to this, Mr Carstens was Governor of the Bank of Mexico from 2010 to 2017. A member of the BIS Board from 2011 to 2017, he was chair of the Global Economy Meeting and the Economic Consultative Committee from 2013 until 2017. He also chaired the International Monetary and Financial Committee, the IMF's policy advisory committee from 2015 to 2017.
Mr Carstens began his career in 1980 at the Bank of Mexico. From 1999 to 2000, he was Executive Director at the IMF. He later served as Mexico's deputy finance minister (2000-03) and as Deputy Managing Director at the IMF (2003-06). He was Mexico's finance minister from 2006 to 2009.
Mr Carstens was a member of the Financial Stability Board from 2010-2025 and was a member of the Group of Thirty.
Mr Carstens holds an MA and a PhD in economics from the University of Chicago.
Jaime Caruana was General Manager of the BIS from 1 April 2009 to 30 November 2017.
Previously, Mr Caruana was Financial Counsellor to the Managing Director and Director of the Monetary and Capital Markets Department of the International Monetary Fund.
From 2000 to 2006, Mr Caruana was the Governor of the Bank of Spain, and, in that capacity, served on the Governing Council of the ECB. He was also the Chairman of the Basel Committee on Banking Supervision from 2003 to 2006 and has been a member of the Financial Stability Forum (now the Financial Stability Board) since 2003.
Prior to joining the Bank of Spain, Mr Caruana worked in the private financial sector for nearly 10 years.
Mr Caruana studied telecommunications engineering at the Complutense University of Madrid and trained with the Spanish State Economists and Trade Experts (Técnicos Comerciales y Economistas del Estado).
Mr Caruana is a member of the Group of Thirty.
Malcolm Knight was General Manager of the BIS from 1 April 2003 until 30 September 2008.
From 1999 to 2003 Mr Knight was Senior Deputy Governor of the Bank of Canada. He was the Bank's chief operating officer and a member of the Board of Directors.
From 1975 to 1999, Mr Knight was with the International Monetary Fund, where he held senior positions in both research and operations. While at the IMF, he was also an adjunct professor at the Johns Hopkins University School of Advanced International Studies and the Virginia Polytechnic Institute and State University. From 1971 to 1975, he taught at the University of Toronto and the London School of Economics and Political Science.
Mr Knight holds an Honours BA in political science and economics from the University of Toronto, and MSc (Econ) and PhD degrees from the London School of Economics and Political Science.
Sir Andrew Crockett was General Manager of the BIS from 1 January 1994 until 31 March 2003. He was Chairman of the Financial Stability Forum (now the Financial Stability Board) from April 1999 until 31 March 2003.
From 1972 to 1989, he was a staff member of the International Monetary Fund, and from 1989 to 1993, an Executive Director of the Bank of England. In the latter capacity, he was a member of the Monetary Committee of the European Union, Alternate Governor of the International Monetary Fund for the United Kingdom, and a member (subsequently Chairman) of Working Party 3 of the OECD. He was a member of the Group of Thirty and of the Board of Trustees of the International Accounting Standards Board.
Sir Andrew held degrees in economics from Queen's College, Cambridge University and Yale University. He was knighted in 2003.
Sir Andrew passed away in 2012. In 2013, the BIS inaugurated the Andrew Crockett Memorial Lecture, held every two years.
Alexandre Lamfalussy was General Manager of the BIS from 1 May 1985 to 31 December 1993.
From 1955 to 1975 he worked with Banque de Bruxelles, first as Economic Adviser and later as a member of the Executive Board. During a sabbatical from the bank, he was a visiting lecturer at Yale University during the 1961-62 academic year.
Mr Lamfalussy joined the BIS in 1976 as Economic Adviser and Head of the Monetary and Economic Department and, in 1981, became Deputy General Manager. In May 1985 he was appointed General Manager. In 1988-89, he was also a member of the Delors Committee, whose report provided the framework for European monetary union. After leaving the BIS, he became the first President of the European Monetary Institute, the predecessor of the ECB. He was created a baron in 1996.
He studied at the Catholic University of Leuven and Nuffield College, Oxford, where he received his doctorate in economics.
In 2015, the BIS established the Alexandre Lamfalussy Senior Research Fellowship in his memory.
Günther Schleiminger was General Manager of the BIS from 1 March 1981 until 30 April 1985.
He was an alternate member of the Managing Board of the European Payments Union (EPU) for Germany, and Chairman of the EPU Group of Alternates from 1952 until 1958. From 1958 to 1968, he was the head of the division for European monetary questions at the Deutsche Bundesbank. Mr Schleiminger served as the executive director for Germany at the International Monetary Fund from 1968 to 1974.
He joined the BIS in 1975 as Secretary General and from 1978 to 1981 was Assistant General Manager.
Mr Schleiminger held a degree in economics from Königsberg University, and a PhD in economics from Berlin and Kiel Universities.
René Larre was General Manager of the BIS from May 1971 until 28 February 1981.
He was a Finance Inspector at the French Ministry of Finance (1942-81). He was also the chief of staff to the Secretary of State for the Budget (1955-56) and to the Minister of Finance (1957-58). Mr Larre was the chief financial counsellor at the French Embassy to the United States (1961-67), and the French executive director at the International Monetary Fund (1964-67). From 1967 to 1971, he was the head of the Treasury Department at the French Ministry for Finance and Economics, as well as a censor of the Bank of France. In 1970-71, he also represented France on the European Monetary Committee.
Mr Larre held a law degree from the École Libre des Sciences Politiques (now Sciences Po) in Paris.
Gabriel Ferras was General Manager of the BIS from 1 April 1963 until his death on 23 December 1970.
He began working at the Bank of France in 1938. From 1953 until 1958, he was an alternate member of the Managing Board of the European Payments Union (EPU) for France. From 1953 to 1956, he also was Deputy Director of the Exchange Restrictions Department of the International Monetary Fund in Washington, and from 1956 to 1963 Director of the IMF European Department.
Mr Ferras held a degree in political science and a doctorate of law (economics) from the University of Paris.
Guillaume Guindey was General Manager of the BIS from 1 October 1958 until 31 March 1963.
He was a Finance Inspector at the French Ministry of Finance (1932-42), and was in charge of the International Finance department at the Finance Ministry in Algiers (1943-44) and in Paris (1946-53). From 1953 to 1958, he was the president and general manager of the Mines de cuivre de Mauritanie (Mauritanian copper mines).
From 1964 to 1972, Mr Guindey was the president of the Supervisory Board of the Caisse centrale de coopération économique at the French Ministry of Finance and Economics. In 1967, he was appointed a member of the French Legion of Honour, and in 1979 he became a member of the French Academy of Sciences.
Mr Guindey held a master's degree in philosophy from the École Libre des Sciences Politiques (now Sciences Po) in Paris.
Roger Auboin was General Manager of the BIS from 1 January 1938 until 30 September 1958.
He began his public career in 1920 at the French State Council (Conseil d'Etat). He was chief of staff of the office of French Prime Minister Paul Painlevé (1925). From 1929 to 1932, he was the resident technical adviser of the Bank of France mission with the National Bank of Romania in Bucharest, advising on the implementation of a monetary and financial stabilisation programme. He became a member of the General Council of the Bank of France in 1937.
Mr Auboin held degrees in law, political science and philosophy from Paris-Sorbonne University.
Pierre Quesnay was the first General Manager of the BIS, from the Bank's founding in April 1930 until his death on 8 September 1937.
He was a member of the League of Nations Commission in Austria (1920-25), before becoming the Head of the Economic Analysis Department of the Bank of France (1926-29). He was a member of the Young Plan Commission (1929), and an expert for France at the Hague and London Conferences of 1929-30.
Mr Quesnay held a law degree from Paris-Sorbonne University.
Assistant General Manager / Deputy General Manager (since 2000)
Luiz Awazu Pereira da Silva was Deputy General Manager of the BIS from 1 October 2015 to 31 August 2023.
Before joining the BIS, Mr Pereira da Silva had been Deputy Governor of the Central Bank of Brazil since 2010. Prior to that, he worked in various positions for the World Bank in Washington DC, Tokyo and southern Africa. He also served as Chief Economist for the Brazilian Ministry of Budget and Planning, and as Brazil's Deputy Finance Minister in charge of international affairs.
Mr Pereira da Silva holds a doctorate in economics and MPhil from Panthéon-Sorbonne University, and graduated from the École des Hautes Etudes Commerciales (HEC) Paris and the Institut d'Études Politiques (Sciences Po) in Paris.
Hervé Hannoun was Deputy General Manager of the BIS from 1 January 2006 to 30 September 2015.
He served on the BIS Board of Directors from 1994 to 2005 and, from 1999, was a member of the Financial Stability Forum (now the Financial Stability Board). Mr Hannoun chaired the International Relations Committee of the European System of Central Banks from 1998 to 2005.
Mr Hannoun was First Deputy Governor of the Bank of France (2000-05) and a member of its Monetary Policy Council. Prior to joining the Bank of France as Second Deputy Governor in 1992, he served in various capacities in the French Ministry of Economic Affairs and Finance, and in the offices of the Prime Minister and the President of the Republic of France.
Mr Hannoun is a graduate of the Institut d'Études Politiques in Paris and the École Nationale d'Administration.
André Icard was Deputy General Manager of the BIS from 1 January 1996 to 31 December 2005.
From 1964 to 1995, he was a staff member of the Bank of France, where his responsibilities included: member of the Inspection of the Bank and of the Banking Commission (1968-74), manager of the Balance of Payments Division (1977-83), manager of the Foreign Exchange Division (1984-86) and manager of the Financial Markets Division, where he took part in the modernisation of the Paris money and financial markets. From 1990 to 1995, he was the General Manager of the Economic Department of the French central bank.
Mr Icard holds a degree in economics from the University of Aix-en-Provence.
Remi Gros was Assistant General Manager of the BIS from February 1992 to 31 December 1995
Richard Hall was Assistant General Manager of the BIS from May 1985 to 31 January 1992.
Alexandre Lamfalussy was General Manager of the BIS from 1 May 1985 to 31 December 1993.
From 1955 to 1975 he worked with Banque de Bruxelles, first as Economic Adviser and later as a member of the Executive Board. During a sabbatical from the bank, he was a visiting lecturer at Yale University during the 1961-62 academic year.
Mr Lamfalussy joined the BIS in 1976 as Economic Adviser and Head of the Monetary and Economic Department and, in 1981, became Deputy General Manager. In May 1985 he was appointed General Manager. In 1988-89, he was also a member of the Delors Committee, whose report provided the framework for European monetary union. After leaving the BIS, he became the first President of the European Monetary Institute, the predecessor of the ECB. He was created a baron in 1996.
He studied at the Catholic University of Leuven and Nuffield College, Oxford, where he received his doctorate in economics.
In 2015, the BIS established the Alexandre Lamfalussy Senior Research Fellowship in his memory.
Günther Schleiminger was General Manager of the BIS from 1 March 1981 until 30 April 1985.
He was an alternate member of the Managing Board of the European Payments Union (EPU) for Germany, and Chairman of the EPU Group of Alternates from 1952 until 1958. From 1958 to 1968, he was the head of the division for European monetary questions at the Deutsche Bundesbank. Mr Schleiminger served as the executive director for Germany at the International Monetary Fund from 1968 to 1974.
He joined the BIS in 1975 as Secretary General and from 1978 to 1981 was Assistant General Manager.
Mr Schleiminger held a degree in economics from Königsberg University, and a PhD in economics from Berlin and Kiel Universities.
Antonio d'Aroma was Assistant General Manager of the BIS from January 1975 until 31 December 1977.
Paul Hechler was Assistant General Manager of the BIS from May 1935 until December 1945.
Ernst Hülse was Assistant General Manager of the BIS from April 1930 until May 1935.
Secretary General
Monica Ellis was Secretary General of the BIS from 1 January 2017 to 31 December 2024.
Mrs Ellis joined the BIS in 1996 as a credit risk analyst and became Head of Trade Processing in the Banking Settlements Centre in 1999. Between 2003 and 2013, she was Deputy Head of Risk Control and Head of Credit Analysis.
In 2014, she was appointed Deputy Secretary General and concurrently held the position of Head of Communications until 2017.
Before joining the BIS, Mrs Ellis was a credit analyst at various financial institutions in the United Kingdom and New Zealand.
Mrs Ellis holds a degree in economics from the University of Waikato.
Peter Dittus was Secretary General of the BIS from 1 January 2005 until 31 December 2016.
Mr Dittus joined the BIS in 1992 as an economist and from 1995 assumed increasingly senior responsibilities in the Bank's administrative domain. In 2000, he was appointed Deputy Secretary General and became a member of the Bank's senior management team.
Before joining the BIS, he was an economist at the World Bank and the OECD.
Mr Dittus holds a doctorate in economics from Saarland University and a diploma in economics from the University of Michigan.
Gunter D Baer was Secretary General of the BIS from 1 September 1994 until 31 December 2004.
Prior to this, Mr Baer was acting Director General of the European Monetary Institute. From 1990 to 1993, he held the position of Secretary General of the Committee of Governors of the Central Banks of the European Economic Community.
Earlier in his career, Mr Baer worked as an economist for the International Monetary Fund, the German Ministry of Finance and the BIS, which he originally joined in 1977.
Mr Baer holds a PhD in economics from Johannes Gutenberg University Mainz, and spent a year as a research fellow at Princeton University.
Giampietro Morelli was Secretary General of the BIS from June 1978 to August 1994.
Günther Schleiminger joined the BIS in 1975 as Secretary General and from 1978 to 1981 was Assistant General Manager. He was General Manager of the BIS from 1 March 1981 until 30 April 1985.
He was an alternate member of the Managing Board of the European Payments Union (EPU) for Germany, and Chairman of the EPU Group of Alternates from 1952 until 1958. From 1958 to 1968, he was the head of the division for European monetary questions at the Deutsche Bundesbank. Mr Schleiminger served as the executive director for Germany at the International Monetary Fund from 1968 to 1974.
Mr Schleiminger held a degree in economics from Königsberg University, and a PhD in economics from Berlin and Kiel Universities.
Antonio d'Aroma was Secretary General of the BIS from January 1962 to December 1974.
Alberto Ferrari was Secretary General of the BIS from October 1951 until January 1962.
Rafaele Pilotti was Secretary General of the BIS from April 1930 until December 1951.
Head of Banking Department
Peter Zöllner was Head of Banking Department from 1 May 2013 until 30 April 2024.
Previously, Mr Zöllner was a member of the Governing Board and Executive Director for Financial Market Operations at the Central Bank of the Republic of Austria (OeNB). Mr Zöllner started his career at the OeNB in the Banking Department in 1980 and was a member of the Governing Board and Executive Director from 1998. Between 1991 and 1996, Mr Zöllner was Economic Policy Adviser to the Austrian Federal Chancellor.
He holds a PhD from Vienna University of Economics and Business Administration.
Günter Pleines was Head of the Banking Department from 1 April 2005 to 30 April 2013.
Mr Pleines joined the BIS in 1981 and assumed increasingly senior responsibilities in the Banking Department. In 1988, he was named to head the BIS Treasury and in 1997 was appointed Deputy Head of Banking.
Before coming to the BIS, Mr Pleines served in various capacities at the Landeszentralbank Hessen and at the Deutsche Bundesbank - both in Frankfurt am Main, Germany.
Mr Pleines trained at Commerzbank AG, Frankfurt am Main, holds an advanced degree in business administration from Goethe University Frankfurt, and received executive training at the Deutsche Bundesbank.
Robert D Sleeper was Head of the Banking Department from February 1999 to March 2005.
Prior to joining the BIS in 1998, Mr Sleeper was employed by Chase Manhattan Bank. From 1981 to 1993, he held senior treasury posts in London, Asia and Latin America, before being appointed to the post of International Treasury Executive. Between 1996 and 1998, he was Managing Director of Chase Manhattan's Foreign Exchange Hedge Unit. From 1975 to 1981, he was Foreign Exchange Manager at the Federal Reserve Bank of New York. Prior to this he was an economics professor at Baruch College in New York City.
Mr Sleeper holds degrees in history, politics, philosophy and economics from Williams College and a PhD in economics from Oxford University.
George Malcolm Gill was Head of Banking Department of the BIS from April 1995 to January 1999.
Remi Gros was Head of Banking Department of the BIS from February 1992 to December 1995.
Richard Hall was Head of Banking Department of the BIS from January 1974 to April 1985.
Donald Macdonald was Head of Banking Department of the BIS from October 1972 until December 1973.
Hans Mandel was Head of Banking Department of the BIS from 01 April 1962 until 30 September 1972.
Marcel van Zeeland was Head of Banking Department of the BIS from June 1948 until March 1962.
Paul Hechler was Head of Banking Department of the BIS from May 1935 until December 1945.
Ernst Hülse was Head of Banking Department of the BIS from April 1930 until May 1935.
Economic Adviser / Head of Monetary and Economic Department (since 1946)
Mr Shin was BIS Economic Adviser from May 2014 to March 2026 and also served as Head of the Monetary and Economic Department from January 2025.
Mr Shin has a background in academia. Before coming to the BIS in May 2014, he was the Hughes-Rogers Professor of Economics at Princeton University, having previously held appointments at Oxford University and the London School of Economics. He has been an intellectual leader in the fields of banking, international finance and monetary economics, topics on which he has published widely, both in leading academic and official publications.
One area of recent focus was developing the BIS's work agenda on digital innovation and the financial system, laying out the implications for users, financial intermediaries and the central bank. Mr Shin was part of the BIS management team that developed the BIS Innovation Hub, and served as its Interim Head at its launch in 2019.
Mr Shin is a Korean national. In 2010, while on leave from Princeton University, he served as Senior Adviser to the Korean president, taking a leading role in formulating financial stability policy in Korea and developing the agenda for the G20 during Korea's presidency.
Mr Shin is author of numerous publications in the fields of monetary policy, banking, finance and issues related to financial stability.
Mr Borio was appointed Head of the Monetary and Economic Department on 18 November 2013 until 31 December 2024.
At the BIS since 1987, Mr Borio has held various positions in the Monetary and Economic Department including Deputy Head of MED and Director of Research and Statistics, and Head of Secretariat for the Committee on the Global Financial System and the Gold and Foreign Exchange Committee (now the Markets Committee).
From 1985 to 1987, Mr Borio worked as economist at the OECD in the country studies branch of the Economics and Statistics Department. Prior to that he was Lecturer and Research Fellow at Brasenose College, Oxford University. He holds a DPhil and MPhil in Economics and a BA in Politics, Philosophy and Economics from the same university.
Mr Borio is author of numerous publications in the fields of monetary policy, banking, finance and issues related to financial stability.
Mr Stephen Cecchetti was Economic Adviser and Head of the Monetary and Economic Department from July 2008 to November 2013.
Prior to joining the BIS, Mr Cecchetti was the Barbara and Richard M Rosenberg Professor of Global Finance at Brandeis International Business School. Previously, he held various other positions, including Executive Vice President and Director of Research at the Federal Reserve Bank of New York, Professor of Economics at Ohio State University, and editor of the Journal of Money, Credit and Banking.
Mr Cecchetti graduated from MIT in 1977 and received a PhD in economics from the University of California at Berkeley in 1982.
Mr William White joined the BIS in June 1994 as Manager in the Monetary and Economic Department, and was Economic Adviser and Head of the Monetary and Economic Department from May 1995 to June 2008.
Prior to coming to the BIS, Mr White spent 22 years at the Bank of Canada. His first six years there were in the Department of Banking and Financial Analysis, first as an economist and finally as Deputy Chief. In 1978 he became Deputy Chief of the Research Department, and was made Chief of the Department in 1979. He was appointed Adviser to the Governor in 1984 and Deputy Governor of the Bank of Canada in September 1988.
Mr White's early career was spent at the Bank of England, where he was an economist from 1969 to 1972.
Mr White holds a degree in economics and politics from the University of Windsor, and a PhD in economics from the University of Manchester.
Horst Bockelmann was Economic Adviser of the BIS from 1 May 1985 until 30 April 1995.
He was a research assistant at the University of Cologne (banking chair) from 1954 to 1957. He entered service at the Deutsche Bundesbank in 1959 in the Money and Credit section of the Economics and Statistics Department. In 1964, he became the director of research and Deputy Governor-designate of the Central Bank of Trinidad and Tobago. In 1965, he was appointed for a three-year term as Governor of the Bank of Guyana. Mr Bockelmann returned to the Deutsche Bundesbank in 1968 and became, first, Head of the Money and Credit section, and then, from 1972 until 1978, Deputy Head of the Economics Department. From 1979 to 1985, he was the Head of the Statistics Department at the Bundesbank.
Mr Bockelmann held a PhD in Social and Economic Sciences from the University of Cologne.
Alexandre Lamfalussy was General Manager of the BIS from 1 May 1985 to 31 December 1993.
From 1955 to 1975 he worked with Banque de Bruxelles, first as Economic Adviser and later as a member of the Executive Board. During a sabbatical from the bank, he was a visiting lecturer at Yale University during the 1961-62 academic year.
Mr Lamfalussy joined the BIS in 1976 as Economic Adviser and Head of the Monetary and Economic Department and, in 1981, became Deputy General Manager. In May 1985 he was appointed General Manager. In 1988-89, he was also a member of the Delors Committee, whose report provided the framework for European monetary union. After leaving the BIS, he became the first President of the European Monetary Institute, the predecessor of the ECB. He was created a baron in 1996.
He studied at the Catholic University of Leuven and Nuffield College, Oxford, where he received his doctorate in economics.
In 2015, the BIS established the Alexandre Lamfalussy Senior Research Fellowship in his memory.
Milton Gilbert was Economic Adviser of the BIS from 1 November 1960 until 31 December 1975.
He was chief of the National Income Division at the US Department of Commerce from 1941 to 1951. From 1951 until 1960, he was the Director of Statistics and then Director of Economics at the Organisation for European Economic Co-operation (OEEC, now the OECD) in Paris.
Mr Gilbert held a PhD in economics from the University of Pennsylvania.
Per Jacobsson was Economic Adviser of the BIS from September 1931 until October 1956.
He was a member of the Economic and Financial Section of the Secretariat of the League of Nations in Geneva from 1920 to 1928. He was Secretary-General to the Swedish Economic Defence Council in 1929-30, and an external member of the Irish Banking Commission (1934-38).
Mr Jacobsson passed away in May 1963 while in office as Managing Director of the International Monetary Fund. Every second year, the Per Jacobsson Lecture is held in his memory at the BIS.
Mr Jacobsson was educated in law and economics at Uppsala University.
Legal Adviser / General Counsel (since 1997)
Diego Devos was appointed General Counsel on 1 October 2009 until 31 August 2024.
As Head of the Legal Service, Mr Devos served as a member of the Bank's Executive Committee.
Mr Devos joined the BIS in 2006 as Deputy General Counsel, providing legal advice on a broad range of issues.
Before coming to the BIS, Mr Devos was Deputy General Counsel of Euroclear Bank in Brussels. Previously, he was Legal Advisor in the legal department of the National Bank of Belgium and a barrister at the Brussels bar.
He holds degrees in law from the University of Brussels.
Daniel Lefort was General Counsel from 1 January 2006 to 30 September 2009.
Mr Lefort joined the BIS in 1984 and held increasingly senior responsibilities in the Legal Service, providing legal counsel on a broad range of issues. He was named Deputy General Counsel in 1997.
Before coming to the BIS, Mr Lefort was an attorney with the Schlumberger Group in Paris and New York. He holds degrees in law from the University of Paris and the University of Strasbourg.
Mario Giovanoli was General Counsel from March 1989 to December 2005.
Mr Giovanoli joined the BIS Legal Service in 1968, was appointed Head of the Legal Service in 1987, and was the first to hold the title of General Counsel.
From 1987 to 2007, he taught monetary, banking and financial law at the Law School of the University of Lausanne. He was Chairman of the Committee on International Monetary Law of the International Law Association (MOCOMILA) from 1995 to 2004.
Mr Giovanoli is the author of various publications on national and international monetary and financial law. He holds degrees in political science and law from the University of Lausanne.
Frédéric-Edouard Klein was Legal Adviser of the BIS from October 1974 to December 1986.
Henri Guisan was Legal Adviser of the BIS from April 1955 to September 1974.
Felix Weiser was Legal Adviser of the BIS from April 1930 to March 1944.
Head of the BIS Innovation Hub
Cecilia Skingsley was Head of the BIS Innovation Hub from September 2022 to June 2025. Previously, she held the position of First Deputy Governor of Sveriges Riksbank since November 2019.
Most recently she chaired the BIS's Committee on Payments and Market Infrastructures Future of Payments Working Group, was the Governor of the Riksbank's alternate on the General Council of the ECB and a member of the Advisory Technical Committee (ATC) of the European Systemic Risk Board (ESRB).
Ms Skingsley was Deputy Governor of the Riksbank from May 2013 to November 2019. Prior to that position she held various roles including Head of FX and Fixed Income Research and Chief Economist at Swedbank (2007-13), financial journalist and Head of Financial Markets Section at Dagens Indutri (2000-07) and Macro Analyst at ABN Amro Bank (1998-2000).
Ms Skingsley holds a degree in economics and political science from Stockholm University. She received a financial analyst degree from SSE Executive Education at Stockholm School of Economics (formerly IFL at Stockholm School of Economics) and studied journalism at Poppius School of Journalism in Stockholm.
Benoît Cœuré was Head of the BIS Innovation Hub in 2020 until 2022. Previously, he was a member of the Executive Board of the ECB. From 2013 to 2019, he chaired the BIS's Committee on Payments and Market Infrastructures.
Prior to joining the ECB, he served in various positions at the French Treasury and the French debt management office. Between 2007 and 2009, he was France's Assistant Secretary for Multilateral Affairs, Trade and Development, co-chair of the Paris Club, and G8 and G20 Finance Sous-Sherpa for France. From 2009 to 2011, he was Deputy Director General and Chief Economist at the French Treasury.
Mr Cœuré is a graduate of the École Polytechnique in Paris. He holds an advanced degree in Statistics and Economic Policy from the École nationale de la statistique et de l'administration économique (ENSAE), and a bachelor's degree in Japanese.
He has authored articles and books on economic policy, the international monetary system and the economics of European integration.