Draghi Anoints Coeure With Pivotal Portfolios as ECB Role Shifts

European Central Bank President Mario Draghi assigned the key international portfolio to France’s Benoit Coeure in a reshuffle of Executive Board duties that reflects a changing role in the euro-area financial architecture.

The former deputy director-general of the French Treasury will take over the portfolio for international and European relations at a time when the ECB is embroiled with European Union governments over the remaining pillar of a nascent banking union. Coeure, 44, will also continue to oversee the ECB’s link to the financial markets, the Directorate General for Market Operations, the ECB said in an e-mailed statement yesterday.