The Board of Directors of the Bank for International Settlements (BIS) has elected Stefan Ingves, Governor of Sveriges Riksbank, as Vice-Chairman for a three-year period. Ingves joined the BIS Board of Directors in 2006 and has chaired its Banking and Risk Management Committee since 2007.
Jens Weidmann, Board Chairman, says: “Stefan is currently the longest-serving member of the BIS Board. I would like to welcome him in his new role as Vice-Chairman and thank him for his continued service to the BIS Board, as I prepare to complete my chairmanship.”
The Board also announced that the terms of office for General Manager Agustín Carstens and Deputy General Manager Luiz Awazu Pereira da Silva have been extended. Carstens’ current term, which is until end-November 2022, has been extended until end-June 2025. Pereira da Silva’s term, which currently runs until end-August 2022, has been extended until end-August 2023. Carstens and Pereira da Silva will each reach the BIS staff retirement age of 67 at the end of their new terms.
Weidmann says: “Both Agustín and Luiz have provided outstanding leadership as the Bank transforms itself under the Innovation BIS 2025 strategy and in the midst of the challenges caused by the pandemic. The Board is very pleased that they have agreed to stay on to lead the BIS through future challenges and opportunities.”