ECB: Schnabel could leave early to join the IMF (Handelsblatt)

(Il Sole 24 Ore Radiocor) - Isabel Schnabel may leave the ECB’s Executive Board early to take up a post at the International Monetary Fund. This is according to a report in Handelsblatt, citing government and financial sources. The German central banker is reportedly in talks to take charge of the IMF’s markets department, a post that has been vacant since 1 September following the departure of Tobias Adrian.

A spokesperson for the Fund stated that the selection process is currently under way and that an announcement will be made once it has been completed. An early departure by Schnabel, whose term of office expires in December 2027, could form part of a wider reshuffle at the top of the Eurotower. The terms of office of President Christine Lagarde and Chief Economist Philip Lane are also due to end next year, making it likely that European leaders will hold comprehensive negotiations on the appointments. For months, there have been increasing signs that President Christine Lagarde herself might leave the central bank before the end of her term in October 2027 to take up a role at the World Economic Forum in Davos. She has also recently hinted that she might play a role in the French presidential elections to make Europe’s voice heard.
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