Schnabel to Leave ECB for IMF Role as Leadership Shift Looms

Isabel Schnabel, an Executive Board member at the European Central Bank (ECB), will step down on January 3, 2027, to take a senior role at the International Monetary Fund (IMF).

The move marks a significant change in leadership for the ECB as Schnabel plans to join the IMF as Financial Counsellor and Director of the Monetary and Capital Markets Department on January 4, 2027.

According to the ECB, Schnabel will continue to carry out her current responsibilities until her departure. The Governing Council has decided that no cooling-off period is required, but she will avoid IMF-related issues during the remainder of her term at the central bank.

The European Council will appoint a successor to Schnabel, and if necessary, her board responsibilities will be temporarily redistributed among the remaining board members after she leaves. ECB President Christine Lagarde praised Schnabel's contributions to the ECB's efforts to stabilize inflation at 2% and modernize its operations.