Villeroy de Galhau to step down as BIS Board Chair in June

François Villeroy de Galhau, Governor of the Bank of France, will step down from his role as Chair of the Bank for International Settlements (BIS) Board of Directors in June.

He became Governor of the Bank of France and a member of the BIS Board in November 2015. He was appointed Chair of the BIS Board of Directors in January 2022, following his tenure as Chair of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, from November 2019. BIS General Manager Pablo Hernández de Cos expressed deep gratitude for Villeroy de Galhau's strategic leadership and commitment to international cooperation, particularly in fostering global monetary and financial stability and enhancing the resilience of the financial system.

His contributions have been instrumental in addressing challenges facing central banks during his distinguished service.

The BIS Board of Directors is responsible for determining the strategic and policy direction of the institution, supervising BIS Management, and fulfilling specific tasks outlined in the Bank's Statutes.

It meets at least six times annually and can comprise up to 18 members, including six ex officio Directors from major central banks.

Eleven Governors from other member central banks may also be elected.

The Board elects its Chair for a three-year term, and the process to appoint a new Chair will begin shortly.

This ensures continuity in the oversight of global financial stability initiatives and banking supervision standards.