Appointments made to lead BIS central bank groups

Press release  | 
11 November 2019

Central bank Governors meeting at the Bank for International Settlements (BIS), a hub for central banks and other financial regulatory and supervisory authorities, made a number of appointments to lead key central bank groups.

The appointment takes effect on 1 February 2020 for a three year-term. Mr Powell succeeds Mark Carney, Governor of the Bank of England, who has chaired the two groups since December 2017.

We thank Mark Carney for his excellent chairing of these two committees and more generally for his contributions in various capacities to the BIS and the international central banking and regulatory community since 2008.

We look forward to working with Jerome Powell and benefiting from his broad experiences.

Jens Weidmann, Chairman of the Board

Mr Powell has been a member of the Federal Reserve Board since 2012 and its Chair since 2018. He has a distinguished record of service both as a public servant and in the private sector. 

His two-year term starts on 9 January 2020. Mr Williams replaces Julio Velarde, Governor of the Central Reserve Bank of Peru, who has chaired the Council since January 2018.

Sir Jon succeeds Benoît Cœuré, a member of the Executive Board of the European Central Bank, who has been CPMI Chair since September 2013.

He succeeds Mario Draghi, President of the European Central Bank until 31 October 2019, who had chaired the GHOS since July 2013.

Governors expressed their gratitude to Mr Carney, Mr Draghi, Mr Velarde and Mr Cœuré for their leadership and wished Mr Powell, Mr Villeroy de Galhau, Mr Williams and Sir Jon every success in their new roles.

Finally, the BIS Board elected ECB President Christine Lagarde as a member, replacing Mr Draghi.