Three candidates today stand a good chance of becoming his successor Andrea Enria at the helm ECB Supervisory Mechanism (SSM)as reported by the news agency in its article on the topic bloomberg. These are high-ranking officials in the management of the central bank, and the Board could take one of them – and if this happens, she will become the second woman in this position after Danielle Nui. The shortlist, which is expected to be announced soon, includes the Vice President of the German Central Bank (Bundesbank). Claudia BuchDeputy Governor of the Bank of Spain Margarita Delgado And Sharon Donnery, Deputy Central Bank Governor of Ireland, according to ECB officials. While no one has officially announced their intention to race for a successor, the aforementioned officials, some of whom will be involved in choosing the status of a successor, named Buch, Delgado and Donnery among likely candidates.

Their position also reflects how much the talent pool has expanded in recent years as the European Central Bank has made progress in increasing the proportion of women in leadership positions, with President Christine Lagarde the most visible.

The man who heads the ECB’s Supervisory Mechanism acts as the eurozone’s highest authority in regulating the banking system. It directly controls the major banks in euro-using countries and has a strong voice in helping to shape the rules related to the structure of the industry. Whoever wins the post will face European financial institution executives who are challenging what they see as the Council’s overly intrusive oversight. The executives in question are seeking to boost the share prices of their banks, which were hit by the 2008 financial crisis. There are other possible candidates, and there is no guarantee that the next candidate will be a woman, ECB officials who gave the speech said. on condition of anonymity. Representatives of the respective national central banks (candidates) declined to comment, as did the representative of the ECB. Italy’s Andrea Enria is due to step down as his five-year, non-renewable term expires this December. When he took office in 2018, the Italian was up against Irish Sharon Donnery and Frenchman Robert Ofill. His predecessor was the Frenchwoman Daniel Nui.

Sharon Donnery took over banking and insurance oversight at Ireland’s central bank, although at a European level she is best known for her work as head of the ECB’s task force on problem loans. In 2017, the European Central Bank came under fire from EU banks and politicians. allegedly for exceeding his authority in relation to the work of the group. However, Sharon Donnery’s tough policy has helped European banks reduce NPLs and put them on a more sustainable footing.

Buch acts primarily as an economist and not as a regulator, although she has been aggressive when it comes to forcing banks to raise capital to prepare for an economic downturn. Finally, Delgado probably has the best understanding of the ECB’s inner workings, having previously served as Deputy CEO on the Supervisory Board.