Isabel Schnabel to Leave ECB for IMF Post

Isabel Schnabel, a member of the European Central Bank's (ECB) Executive Board and Governing Council, will leave her position on January 3, 2027. She has been appointed as the International Monetary Fund's (IMF) Financial Counsellor and Director of the Monetary and Capital Markets Department. This change is effective from January 4, 2027.

Schnabel informed ECB President Christine Lagarde of her decision to step down. IMF Managing Director Kristalina Georgieva announced that she intends to appoint Schnabel to the Fund post on the same day. Schnabel will remain in her current position until then and continue to exercise her responsibilities, according to the ECB.

The ECB's Ethics Committee determined that no cooling-off period is required for Schnabel. She will not be involved in any matters related to the IMF during her remaining term at the central bank. A successor will be appointed by the European Council in accordance with the Treaty on the Functioning of the European Union.