ECB Executive Board member Isabel Schnabel to resign to take senior role at IMF

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), has announced today her intention to appoint Ms Schnabel as the Fund’s Financial Counsellor and Director of the Monetary and Capital Markets Department, effective 4 January 2027. Until then, Ms Schnabel will remain in her current position and continue to exercise her responsibilities. Following an opinion from the ECB’s Ethics Committee, the Governing Council has decided that no cooling-off period is required. Ms Schnabel will not be involved in any matters related to the IMF for the remainder of her term at the ECB. A successor will be appointed by the European Council in accordance with the procedure set out in the Treaty on the Functioning of the European Union.