After the EU Commission, the EU Parliament, the ECB and the Competition, too banking supervision it will be in the hands of a woman. The Governing Council of the European Central Bank has appointed Claudia Buch head of the Single European Banking Supervisory Authority. The German banker will succeed Andrea Enrico whose mandate expires at the end of 2023. The appointment will have to be confirmed by Parliament and the EU Council. If they give a positive opinion as probable, Buch will enter in office on 1 January 2024 and will lead supervision for the next 5 years.
Since 2014, the year in which it was created, the Supervisory Board has been led first by a Frenchwoman, Danièle Nouy, and then by an Italian, Enria, who took office in January 2019. Now Germany's time has come.
The process that led to Buch's appointment
On May 17, the European Central Bank published the notice for applications for the position of Chair of the Supervisory Board, inviting candidates to apply by June 23. Informal hearings of the two shortlisted candidates took place in July 2023 before the Committee on Economic and Monetary Affairs of the EU Parliament and the assessments were shared with the Governing Council. With a statement, the ECB specifies that the decision was taken at secret ballot with "a majority" in favor of the German candidate. Competing for the role of number one ECB supervisor in Buch was the Spanish Margarita Delgado. Spain could now decide to "console itself" with the presidency of the EIB, for which it is running Daniele Franco.
Who is Claudia Buch
Buch, 57, has been vice-president of the Bundesbank since 2014 and joined the Supervisory Board as a representative of the German central bank on March 10, replacing Joachim Wuermeling. Previously she worked as a lecturer at the University of Tübingen, she was a member of the German Council of Economic Experts, scientific director at the Institute for Applied Economic Studies and president of the economic council at the Federal Ministry for Economic Affairs and Technology.
