FRANKFURT (Reuters) – The European Central Bank said on Wednesday it is looking for a new top bank supervisor to succeed Andrea Enria when his term runs out at the end of the year.
Candidates to the role of chair of the ECB’s Supervisory Board, the most senior banking watchdog for the euro zone, must apply by June 23. The winner will be chosen by the ECB’s Governing Council in the autumn for a five-year term.
Germany’s Claudia Buch, the vice-president of the Bundesbank, is considered a clear favourite for the role, conversations with a dozen sources with direct knowledge indicated last month.
Most sources also mentioned Spain’s Margarita Delgado as a strong candidate and many also said Ireland’s Sharon Donnery could be in the running.
Under the process, the ECB’s Governing Council will set up a pre-selection panel to prepare a shortlist of the most suitable applicants, before consulting the Supervisory Board.
The winning candidate will need to be approved by the European Parliament and confirmed by the Council of the European Union by December to start in the new role on Jan 1.
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(Reporting By Francesco Canepa and Balazs Koranyi; Editing by Sharon Singleton)