(Bloomberg) — Bundesbank Vice President Claudia Buch is likely to get the top job at the European Central Bank’s oversight arm, according to people familiar with the matter.
(Bloomberg) — Bundesbank Vice President Claudia Buch is likely to get the top job at the European Central Bank’s oversight arm, according to people familiar with the matter.
The ECB Governing Council is set to make a pick during its two-day meeting in Frankfurt which starts Wednesday and a majority of the members are leaning toward casting their vote for the German, said the people, who asked not to be identified because the talks are private.
No decision has been made and the opinion could still shift in favor of Bank of Spain Deputy Governor Margarita Delgado, who also is in the running. There’s no formal requirement to decide at this meeting, as the role only becomes available at the start of 2024.
The chair of the ECB Supervisory Board — which Andrea Enria is vacating at the end of this year — is the eurozone’s most senior regulator, directly overseeing the bloc’s major banks, and endowed with a powerful voice to help shape rules that determine the industry’s structure.
The ECB, the Bundesbank and the Bank of Spain declined to comment.
The supervisory role forms part of a round of horse trading over senior appointments to European institutions. The European Union typically attempts to distribute top jobs fairly, with consideration of the size and political affiliation of a country, and has made it an increasing priority to install women in such positions. Spain also is trying to secure the top job at the European Investment Bank.
–With assistance from Alexander Weber, Nicholas Comfort and Jana Randow.
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