Schnabel Eyes IMF Job as ECB Reshuffle Looms

Isabel Schnabel, a European Central Bank board member and head of market operations, is in talks to leave early for a senior role at the International Monetary Fund (IMF), according to German newspaper Handelsblatt. The move could bring forward a reshuffle of the ECB's board, which includes top positions set to turn over soon.

Schnabel's term at the ECB runs until 2027, but if she departs early, it would pave the way for a new chief economist and possibly even a new president. Philip Lane is set to leave next May as chief economist, while President Christine Lagarde's term ends in October.

The IMF role Schnabel is reportedly eyeing is head of its Monetary and Capital Markets Department, which has been vacant since Tobias Adrian left at the start of the month. The move would likely mean the end of Schnabel's bid to become the ECB's next president, an idea that hasn't gained much traction in Berlin.