Central Bank Group BIS Names Hernández de Cos as Next General Manager
Summary
Pablo Hernández de Cos, former governor of the Bank of Spain, will become the general manager of the Bank for International Settlements (BIS) on July 1 for a five-year term, succeeding Agustín Carstens. The BIS, based in Basel and owned by 63 central banks, has been active in the crypto sector, collaborating on central bank digital currency (CBDC) projects to enhance cross-border payments and privacy. Hernández de Cos previously advocated for a digital euro to boost payment innovation. François Villeroy de Galhau was reelected as chair of the BIS Board of Directors, and Tiff Macklem will chair the BIS Consultative Council for the Americas starting January.
