CEBS appoints new Chair and Vice Chair

01 September 2009

The Committee of European Banking Supervisors (CEBS) is pleased to announce that Mr. Giovanni Carosio has been appointed as its new Chairman. Mr. Carosio is taking up the chairmanship starting from 1 September 2009 and succeeds Mrs. Kerstin af Jochnick who held the position since January 2008 and has recently been appointed as new managing director of The Swedish Bankers' Association.

Giovanni Carosio was serving as CEBS Vice Chair since January 2008. He is Deputy Director General of the Bank of Italy since January 2007. Having completed his graduating studies in Economics at the University of Rome in 1967 and postgraduate studies at the University of Cambridge, he joined the Bank of Italy in 1970 and, after an initial period in the monetary policy function, has held several senior positions in banking supervision.

"It's a great privilege to have Giovanni as CEBS's new Chair", said Mrs af. Jochnick. "His experience and perspective on the banking supervision will be hugely valuable as we navigate through this period of substantial change in the regulatory architecture. Giovanni's combination of experience in the monetary analysis and supervision function is a huge asset for the Committee".

Mr. Carosio, who will also hold the 3L3 rotational Chairmanship until the end of this year, says "I look forward to serving as CEBS's Chair, especially given the challenges we need to meet in the coming period so as to strengthen supervisory cooperation in the EU and to ensure a smooth transition of the current Committee towards the new European Banking Authority. I would also like to thank the outgoing Chair, Mrs. af Jochnick. She has shown great leadership in steering the Committee in the crisis and in building the foundations for the future Authority. "

As of 1st September, Thomas Huertas is appointed as the new Vice Chair of CEBS. He also takes over the chairmanship of CEBS Review Panel. Mr. Huertas is the Banking Sector Director of the UK FSA, a member of CEBS Bureau and the Chair of its Expert Group on Prudential Regulation.

The other members of CEBS Bureau are Mr. Thomas Schmitz-Lippert from the Federal Financial Supervisory Authority (Bafin), Mr. Fernando Vargas from the Bank of Spain, Mr. Mihaly Erdos from the Hungarian Financial Supervisory Authority, Mr. Andrzej Reich from the National Bank of Poland (until 27 September 2009) and Mr Henk Brouwer from the Central Bank of the Netherlands (as of 28 September 2009).

The role of the Bureau is to prepare and discuss matters of strategic importance and agenda issues for the CEBS meetings. It also provides advice and assists the Chair and the Committee in budgetary and administrative matters.

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