Central bank Governors appointed to lead BIS Board and key groups

Press release  | 
12 May 2026
  • BIS Board of Directors elects Fabio Panetta, Governor of the Bank of Italy, as its new Chair
  • Gabriel Galípolo, Governor of the Central Bank of Brazil, is appointed Chair of the meeting of Governors of major emerging market economies
  • Michele Bullock, Governor of the Reserve Bank of Australia, is appointed Chair of the Asian Consultative Council
  • Kazuo Ueda, Governor of the Bank of Japan, is appointed Chair of the Committee on the Global Financial System

The Board of Directors of the Bank for International Settlements (BIS) has elected Fabio Panetta, Governor of the Bank of Italy, as its new Chair, and Governors made other key appointments to central bank groups.   

Mr Panetta will serve a three-year term, starting 3 June, as Chair of the Board, which is responsible for determining the strategic and policy direction of the BIS, supervising its Management and fulfilling the specific tasks given to it by the Bank's Statutes.

He will succeed François Villeroy de Galhau, Governor of the Bank of France, who previously announced his decision to leave the Bank of France and will step down as Chair on 2 June.

Central bank Governors also announced a number of other appointments to lead key groups at the BIS, which has a mandate to support global monetary and financial stability and acts as a hub for central banks and other financial regulatory and supervisory authorities across the globe.

Gabriel Galípolo, Governor of the Central Bank of Brazil, was appointed Chair of the meeting of Governors of major emerging market economies (EMEs), a venue for the exchange of views on macroeconomic and financial developments and risks and on other relevant matters in EMEs. Mr Galípolo will replace Eddie Yue, Chief Executive of the Hong Kong Monetary Authority. He starts a two-year term on 1 September.

Michele Bullock, Governor of the Reserve Bank of Australia, was appointed Chair of the Asian Consultative Council, a vehicle for communication and coordination between BIS members in the Asia-Pacific and the BIS on matters of interest and concern to the Asian central banking community. Ms Bullock replaces Nguyen Thi Hong, former Governor of the State Bank of Vietnam, for a two-year term starting 11 May.

Kazuo Ueda, Governor of the Bank of Japan, was appointed Chair of the Committee on the Global Financial System, a central bank forum for monitoring financial sector developments and analysing their implications for financial stability and central bank policy. He replaces Chang Yong Rhee, former Governor of the Bank of Korea, for a three-year term starting 12 May.

Governors expressed their gratitude to Mr Villeroy de Galhau, Mr Yue, Ms Hong, and Mr Rhee for their leadership and wished Mr Panetta, Mr Galípolo, Ms Bullock, and Mr Ueda every success in their new roles.