BIS Economic Consultative Committee appoint new chairmen to replace King

5 June 2013

The Bank for International Settlements' (BIS) Economic Consultative Committee (ECC) has announced two new appointments, with Agustín Carstens and Mario Draghi both set to join the central banking committe from 1 July 2013 onwards for a three-year term, replacing the retiring Mervyn King of the Bank of England (BoE).

The BIS board of directors has appointed Agustín Carstens, governor of the Bank of Mexico, as chairman of the economic consultative committee (ECC) and the global economy meeting (GEM) after consultations with members of the GEM.

The group of governors at BIS and heads of supervision (GHOS) has selected Mario Draghi, presently the president of the European Central Bank (ECB), as its new chair after consultations among its members.

Both Agustín Carstens and Mario Draghi will succeed Mervyn King, who will step down as chairman of the three groups when he retires as governor of the Bank of England (BoE) at the end of this month. King has chaired the ECC, the GEM and the GHOS since November 2011, and both the board and the GHOS expressed their gratitude for his “excellent chairmanship”.

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