The Bank for International Settlements (BIS) announced the appointment of Pablo Hernandez de Cos as the next CEO.
His five-year term will begin on July 1, 2025, succeeding Agustín Carstens, whose term will end in June 2025.
Hernández de Cos brings extensive experience in central banking and international finance.
He was Governor of the Bank of Spain from 2018 to June 2024, during which time he was a member of the Governing Council of the European Central Bank and chaired the Basel Committee on Banking Supervision.
He also held positions on the Financial Stability Board and the BIS Group of Governors and Oversight Officers.
Before becoming governor, Hernández de Cos held senior positions at the Bank of Spain, including general director of economics, statistics and research.
A seasoned economist, Hernández de Cos began his career at the Bank of Spain in 1997 and has since contributed to various European and international financial bodies, including as an advisor to the executive board of the European Central Bank.
He is currently Professor of the Practice of Economic Management at IESE Business School and a non-resident member of prominent think tanks such as Bruegel and the Peterson Institute for International Economics.
“It was essential for the Board to find an excellent leader to succeed Mr. Carstens, who has been extremely successful in leading and transforming the BIS during these challenging times.
Mr. Hernández de Cos is a person of remarkable caliber and global experience, and we are fully confident that he will embody the spirit of international trust and technical excellence on which the BRI is based.
said François Villeroy de Galhau, chairman of the BRI board of directors.
The BIS Board of Directors also recognized the leadership of Agustín Carstens, highlighting his contributions to the BIS 2025 Innovation strategy.
This initiative strengthened the Bank’s collaboration on financial innovation and enhanced its support to central banks around the world.