MNI: Austria's Nowotny To Chair ECB's Audit Committee

By Luke Heighton

     FRANKFURT (MNI) - Ewald Nowotny has been appointed chairman of the European

Central Bank's Audit Committee.

     Nowotny, who replaces Erkki Liikanen, the former head of the Finnish

Central Bank, is a member of the ECB's Governing Council. He is due to leave the

Central Bank of Austria in 2019, after more than ten years as governor.

     Nowotny was already a member of the committee, alongside ECB vice president

Luis de Guidos; Josef Bonnici, the former governor of the Central Bank of Maltal

ex-Central Bank of Ireland chief Patrick Honohan, and Yannis Stournaras,

Governor of the Bank of Greece.

     The Audit Committee has a mandate to "strengthen the internal/external

layers of control already in place and further enhance the corporate governance

of the ECB and the SSM".

--MNI Frankfurt Bureau; +49-69-720-146; email: luke.heighton@marketnews.com

--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com

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