Schnabel Trades ECB for IMF in Senior Role Swap

Isabel Schnabel, an Executive Board member of the European Central Bank (ECB), has announced that she will leave her position early to take on a senior role at the International Monetary Fund (IMF). According to an ECB statement, Schnabel has been selected as the director of the monetary and capital markets department, where she will start on January 4.

The news comes just ahead of the expected date of her departure from the ECB. Schnabel's decision marks a significant change for the ECB, which is already dealing with changes in leadership following the recent announcement that Christine Lagarde will step down as President next year.