ECB Fills Empty Watchdog Seats With French, Swedish Officials

(Bloomberg) -- The European Central Bank moved to fill three vacancies at the top of its bank supervision arm after some of the positions had been left unfilled for more than a year.

Edouard Fernandez-Bollo, the current head of France’s banking regulator, and Riksbank Deputy Governor Kerstin af Jochnick will join the ECB’s supervisory board for a five-year term, the Frankfurt-based institution said in a statement. Elizabeth McCaul, the interim chief executive officer of Promontory Financial Group Europe, was also appointed, it said.

The euro area’s top banking supervisor was left with four empty top positions after the departures of Sabine Lautenschlaeger and Ignazio Angeloni earlier this year. ECB Executive Board member Yves Mersch has been designated as the supervisor’s vice chair in the meantime, but because of European Parliament elections in May his nomination has yet to be confirmed.

The top positions had been vacant amid an influx of risks as banks prepare for Brexit. The supervisory board, which is led by Andrea Enria, includes members of the 19 national authorities in the euro area on top the ECB’s own appointees.

ECB policy makers have highlighted the lack of women in top positions in the past and the appointments of Jochnick and McCaul may be an attempt to address the issue.

To contact the reporter on this story: Alexander Weber in Brussels at aweber45@bloomberg.net

To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Zoe Schneeweiss

©2019 Bloomberg L.P.