ECB extends Frank Elderson’s term as Vice-Chair of the Supervisory Board

The European Central Bank (ECB) has announced the extension of Frank Elderson’s term as Vice-Chair of the Supervisory Board. The extension aligns with his current mandate as an ECB Executive Board member, which concludes on 14 December 2028.

The decision follows the approval by the European Parliament of the proposal made by the ECB Governing Council on 17 December, and the hearing of Mr Elderson before the Committee on Economic and Monetary Affairs on 28 January.

Frank Elderson expressed his commitment to maintaining financial stability and addressing challenges such as geopolitical risks, cyber threats, and climate-related risks. He stated, “I am honoured to continue serving as Vice-Chair of the Supervisory Board until the end of my term as ECB Executive Board member. Safe and sound banks are essential to maintaining the flow of finance that supports a competitive and resilient European economy.”

Following this decision, Mr Elderson will serve as Vice-Chair until his ECB Executive Board mandate ends on 14 December 2028.