Banking's Supercop Is Handing In Her Badge
The replacement of Daniele Nouy at the ECB merits equal attention to that of Mario Draghi.
Who will manage the next financial crisis?
Photographer: Martin LeisslThere will soon be an important vacancy at the European Central Bank — and, no, it’s not Mario Draghi's job. The ECB president is to leave office in the autumn of next year and speculation is already swirling about who will take over. But a more urgent task for the central bank is to replace the woman who supervises the euro zone’s major banks.
Daniele Nouy, chair of the ECB’s supervisory board, will retire at the end of 2018. In the past three and a half years, she has played a decisive part in setting up Europe’s “single supervisory mechanism” — which transferred oversight of the region’s biggest lenders from the national to the European level.