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Welcome to the Elite Private Club of the World's Central Bankers

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ECB Conference On Central Bank Communications
Photographer: Alex Kraus/Bloomberg

There’s a changing of the guard at the Bank for International Settlements, the little-known but influential organization that sits at the heart of the world’s financial system.

Agustin Carstens, the former head of Mexico’s central bank, will succeed Jaime Caruana as general manager on Friday. He’s taking charge of an institution that stands out, in an age of increasing transparency and growing disillusionment with elites, as a bastion of global technocracy.