MNI Policy: ECB Nominates Enria To Head Banking Supervisor

By Luke Heighton

     FRANKFURT (MNI) - Italian Andrea Enria was surprisingly nominated by the

European Central Bank's Governing Council to head its bank supervisor.

     The ECB said on Wednesday it informed the chair of the European

Parliament's Committee on Economic and Monetary Affairs (ECON), Roberto

Gualtieri, of its decision after Enria saw off the only other candidate to head

the Supervisory Board, Sharon Donnery.

     Donnery, the deputy governor of the Central Bank of Ireland, had been

widely regarded as the favourite to take over the role from the outgoing Daniele

Nouy, whose five-year term comes to an end in December.

     The decision may clear the path for Philip Lane, the governor of the Bank

of Ireland, to succeed Peter Praet as the ECB's chief economist, though he has

also been mentioned as a possible to successor to Mario Draghi as President.

     Enria, who currently serves as the Chairperson of the European Banking

Authority, will be invited by ECON to a public hearing. If approved by the

parliament and confirmed by the Council of the European Union, he will take over

from Nouy as Chair of the Supervisory Board on 1 January 2019 for a

non-renewable five-year term.

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

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

--MNI London Bureau; +44208-865-3829; email: Jason.Webb@marketnews.com

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