ECB Executive Board member Isabel Schnabel to join IMF as Financial Counsellor

Isabel Schnabel, a member of the Executive Board and the Governing Council of the European Central Bank (ECB), has informed President Christine Lagarde that she will step down from her position on 3 January 2027.

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), announced her intention to appoint Ms Schnabel as the Fund’s Financial Counsellor and Director of the Monetary and Capital Markets Department, effective 4 January 2027.

Until then, Ms Schnabel will remain in her current role and continue her responsibilities. Following an opinion from the ECB’s Ethics Committee, the Governing Council decided that no cooling-off period is required. Ms Schnabel will not be involved in any IMF-related matters during her remaining term at the ECB.

A successor will be appointed by the European Council according to the procedure set out in the Treaty on the Functioning of the European Union. If necessary, her ECB responsibilities will be temporarily reassigned among remaining members after her departure.

President Christine Lagarde thanked Ms Schnabel for her contributions over the past seven years, highlighting her role in stabilising inflation and modernising ECB operations. She praised her commitment to public service and her impact on the institution and Europe.

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