ECB Nominates Claudia Buch as Chair of Supervisory Board
SEPTEMBER 14, 2023

The Governing Council of the European Central Bank (ECB) today nominated Claudia Buch for the non-renewable five-year position of Chair of the Supervisory Board, following consultation with the Supervisory Board. She is currently Vice-President of the Deutsche Bundesbank.

Informal hearings of the two shortlisted candidates before the European Parliament’s Committee on Economic and Monetary Affairs (ECON) took place in July 2023. The views of the ECON Coordinators were shared with the Governing Council. The vote in the Governing Council was taken by secret ballot and a majority was pronounced in favour of Claudia Buch.

The ECB has informed Irene Tinagli, Chair of the ECON Committee, and Nadia Calviño, President of the Economic and Financial Affairs Council (ECOFIN), of its nomination.

The ECON Committee will invite Claudia Buch to a public hearing. If the nomination is approved by the European Parliament and confirmed by the Council of the European Union, Claudia Buch will succeed Andrea Enria as Chair of the Supervisory Board on 1 January 2024.

Notes

  • The Supervisory Board of the ECB consists of the Chair, the Vice-Chair, four ECB representatives and representatives of the national supervisors participating in European banking supervision.
  • The first Chair of the Supervisory Board of the ECB was Danièle Nouy (1 January 2014 to 31 December 2018), followed by Andrea Enria (1 January 2019 to 31 December 2023). The ECB published a vacancy notice in May 2023 to launch the process for selecting Andrea Enria’s successor. Each Chair is selected for a non-renewable five-year term.
  • As part of the European Parliament’s approval process, the ECON Committee will invite Claudia Buch to attend a public hearing. This will be followed by a vote in the ECON Committee and a vote in plenary on the candidate, in line with part II of the Interinstitutional Agreement between the European Parliament and the ECB.
  • Upon the European Parliament’s approval of the proposal of the ECB’s Governing Council, the Council of the European Union will appoint the Chair by qualified majority only taking into account the votes of Member States that participate in European banking supervision, in line with part II of the Memorandum of Understanding between the Council of the EU and the ECB.