The FINANCIAL — The Executive Board of the European Central Bank (ECB) has appointed Frank Smets, currently Counsellor to the President and Co-ordinator of the Counsel to the Executive Board, as Director General Economics.
Mr Smets will take up his new function on 1 February 2017.
Mr Smets, 53, has been with the ECB for 18 years. Before becoming Counsellor to the President in December 2013, he served as Director General Research from 2008. Mr Smets previously worked at the Bank for International Settlements in Basel, Switzerland. He holds a PhD in economics from Yale University, according to ECB.
Mr Smets succeeds Wolfgang Schill, who retires from the ECB on 31 January 2017, after 12 years in the role. Mr Schill joined the ECB in 1998 from the European Monetary Institute, the body that oversaw Stage Two of Economic and Monetary Union.