The European Central Bank (ECB) began almost a month ago to look for a replacement for Andrea Enria, who in 2024 will leave the presidency of the supervisory body of the euro zone central bank. Little by little, possible names to succeed the Italian in office begin to take the lead, including Margarita Delgado. This Friday, the Vice President of the European Central Bank (ECB), Luis de Guindos, spoke at a seminar organized by the Office of the European Parliament in Spain, and took the opportunity to thank Delgado, current deputy governor of the Bank of Spain, his contribution to the Supervisory Board of the ECB and has expressed its expectation that the Spanish company “assumes more responsibilities in the future”.
Margarita Delgado, who currently participates in the Supervisory Board of the ECB as a representative of the Bank of Spain, has sounded like one of the possible candidates to succeed the Italian Andrea Enria in the presidency of the supervisory body of the central bank of the euro zone, although the Spanish has not publicly indicated her intention to seek her election.
On May 17, the ECB began the search process for a candidate to succeed Andrea Enria as Chairman of the Supervisory Board, since the Italian’s term expires at the end of the year. The selected candidate, whose appointment must be by Parliament and confirmed by the approved European Council of the European Union during the quarter of 2023, will assume the reins of ECB banking supervision from January 1, 2024 and for a period not renewable for five years.
According to the announcement to fill the vacancy, the candidates for the position, who will be able to submit their applications until June 23, must have recognized solvency and experience in banking and financial matters, including considerable professional experience in supervision, as well as having extensive Experience in leading and developing management teams.
In this, the Governing Council of the ECB will establish a pre-selection panel to evaluate the applications according to the established criteria and the most considered candidates will be interviewed by said panel, in addition to participating in a leadership evaluation of an external provider.
Assessments and interviews are expected to take place in the weeks beginning Monday 26 June and Monday 3 July 2023, after which the shortlist panel submits a list of candidates and an assessment report to the board of directors. ECB Government for your consideration. After consultation with the Supervisory Board, the Governing Council will nominate a candidate in the autumn, who will be approved by the European Parliament and confirmed by the Council of the European Union during the fourth quarter of 2023.
The ECB Supervisory Board is made up of the President, the Vice-President, four ECB representatives and representatives of the national supervisors involved in European banking supervision, formally known as the Single Supervisory Mechanism (SSM). Among the main favorites to succeed Andrea Enria, according to the media, in addition to Margarita Delgado, there is also the vice president of the Bundesbank, Claudia Buch, and the deputy governor of the Central Bank of Ireland, Sharon Donnery. The three potential front-runners currently sit on the ECB’s supervisory board as representatives of their respective national central banks.
In the announcement of the vacancy for the position, which was held for the first time by the French Danièle Nouy, between 2014 and 2018, the ECB states that “the selection and appointment procedure will respect the principles of gender balance, experience and qualification”.