Caruana to join the IMF

Jaime Caruana, the current chairman of the Basel Committee on Banking Supervision (BCBS) and the governor of the Bank of Spain, has been appointed by the International Monetary Fund (IMF) as counsellor and director of the new financial, capital and regulatory department.

The department was created as a result of the merger of the international capital markets department, headed by Gerd Hausler, and the monetary and financial systems department, headed by Stefan Ingves. Hausler announced his intention to leave the IMF in July 2006, while Ingves has been appointed governor of Sveriges Riksbank, Sweden’s central bank.

Caurana’s appointment will become effective in August after he finishes his term on the BCBS.

BaselAlert.com