ECB Assigns Responsibilities to Executive Board Members

Wednesday, June 02, 2010

The European Central Bank (ECB) published a release on Wednesday that gives insight about who will be responsible for specific management issues. The assignments will take effect immediately.
It was not communicated how responsibilities were shared before and surfing the ECB's webpages about its internal organisation do not deliver a clue on the past structure either.
Here are the new responsibilities of the board members:

  1. In addition to his statutory duties as President of the Executive Board, the Governing Council and the General Council, the President, Mr Jean-Claude Trichet, will be responsible for the following areas: Communications; Internal Audit; Secretariat and Language Services.
  2. In addition to his statutory duties as deputy to the President, the Vice-President, Mr Vítor Constâncio, will be responsible for the following areas: Administration and Financial Stability.
  3. Ms Gertrude Tumpel-Gugerell will be responsible for the following areas: Human Resources, Budget and Organisation; Payment Systems and Market Infrastructure and Target2 Securities.
  4. Mr José Manuel González-Páramo will be responsible for the following areas: Banknotes; Market Operations and Research.
  5. Mr Lorenzo Bini Smaghi will be responsible for the following areas: International and European Relations; Legal Services and the New ECB Premises Project.
  6. Mr Jürgen Stark will be responsible for the following areas: Economics; Information Systems and Statistics.

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