BIS Appoints Pablo Hernández de Cos as New General Manager

Pablo Hernández de Cos, former governor of the Bank of Spain, has been appointed as the new general manager of the Bank for International Settlements (BIS) effective July 1. In this role, he will succeed Agustín Carstens.

During his tenure, Hernández de Cos has been an advocate for the European Central Bank’s development of a digital euro and played a key role in establishing global crypto banking regulations in 2022.

The Bank for International Settlements, often termed the "central bank for central banks," has been at the forefront of discussions regarding central bank digital currency (CBDC) initiatives aimed at enhancing cross-border transactions and ensuring privacy.

Additionally, Hernández de Cos was previously involved in the Basel Committee on Banking Supervision, where he chaired efforts to finalize crypto banking rules. Recently, the BIS Board of Directors re-elected François Villeroy de Galhau as its chair and appointed Tiff Macklem to the chair of the BIS Consultative Council for the Americas from January.