Jaime Caruana appointed as BIS general manager

Caruana's appointment fills the vacancy left by the retirement at the end of September of Malcolm Knight, who was general manager between 2003 and 2008.

Caruana is currently counselor and director of the International Monetary Fund's monetary and capital markets department, a position he has held since 2006. Prior to this, he was governor of the Bank of Spain for six years, serving on the European Central Bank's governing council. Between 2003 and 2006, he was also chairman of the Basel Committee on Banking Supervision and has been a member of the Financial Stability Forum since 2003.

See also: Basel Committee outlines potential changes to Basel II
Outstanding notional on CDSs drops for first time

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