The Bank for International Settlements (BIS) has announced the appointment of Pablo Hernández de Cos as its next General Manager.
His five-year term will begin on 1 July 2025, succeeding Agustín Carstens, whose tenure concludes in June 2025.
Hernández de Cos brings extensive experience in central banking and international finance.
He served as Governor of the Bank of Spain from 2018 to June 2024, during which he was a member of the European Central Bank’s Governing Council and chaired the Basel Committee on Banking Supervision.
He also held roles with the Financial Stability Board and the BIS Group of Governors and Heads of Supervision.
Before becoming Governor, Hernández de Cos held senior positions at the Bank of Spain, including as Director General of Economics, Statistics, and Research.
A seasoned economist, Hernández de Cos began his career at the Bank of Spain in 1997 and has since contributed to various European and international financial bodies, including serving as an adviser to the Executive Board of the European Central Bank.
He is currently Professor of the Practice of Management of Economics at the IESE Business School and a non-resident fellow at prominent think tanks such as Bruegel and the Peterson Institute for International Economics.
“It was essential for the Board to find an excellent leader to succeed Mr Carstens, who has been extremely successful in leading and transforming the BIS in these challenging times.
Mr Hernández de Cos is a person of remarkable calibre and global experience, and we are fully confident that he will embody the spirit of international trust and technical excellence on which the BIS is built.”
said François Villeroy de Galhau, Chair of the BIS Board of Directors.
The BIS Board of Directors also acknowledged Agustín Carstens’ leadership, highlighting his contributions to the Innovation BIS 2025 strategy.
This initiative strengthened the Bank’s collaboration on financial innovation and enhanced its support for central banks globally.
