Governance
Upheaval at Bank of Israel
New directors of the research and market operations departments; long-serving director of human resources and administration department resigns
King receives 2.5% pay rise
Bank of England 2010 Annual Report shows governor Mervyn King’s starting minimum salary for 2010 increased to £375,000; deputy governors also receive pay rise
Weber gains clearance to join UBS
Eurozone and German central bank give former Bundesbank president Axel Weber green light to join UBS in May
Sudan relinquishes control of financial system in the South
Measures to relinquish control of southern financial system following independence declaration of South State
Euro area needs better coordinated political union: ECB’s Bini Smaghi
European Central Bank executive board member Lorenzo Bini Smaghi calls for more active participation by euro area governments in political union
Lagarde calls for greater legitimacy at Fund
Recently appointed IMF managing director Christine Lagarde lays out preliminary strategy for Fund; says legitimacy and diversity will play key role in future
Hungary’s Simor under fire over financial loss
National Bank of Hungary governor András Simor defends management record after predecessor criticises $224 million loss
Uganda launches early retirement scheme
Two-hundred and fifty employees at the Bank of Uganda have retired as the retirement age is reduced to 55 years old
New deputy governor at RBI
Former Reserve Bank of India executive director Harun Rashid Khan assumes new role as deputy governor
Philippines’ Tetangco sworn in for second term
Central Bank of the Philippines governor Amando Tetangco secures 'unprecedented' second six-year term as head of central bank
Ex-Malaysia assistant governor pleads not guilty
Former Bank Negara Malaysia assistant governor pleads not guilty to two counts of bribery
DSK’s future will ultimately be decided in France, not New York
Speculation that the case against the former IMF managing director Dominique Strauss-Kahn may collapse has reignited the debate of a return to French politics
Weber named UBS chair
Bundesbank former president Axel Weber set to be elected as chair of UBS by bank’s board in 2012
RBI’s Chakrabarty on IT initiatives
Reserve Bank of India deputy governor KC Chakrabarty describes vision for new IT reforms in banking sector
Lagarde takes on top IMF role at challenging time
IMF selects Christine Lagarde as managing director; she takes the helm as Fund criticises US
Regulation reform dominates British Bankers’ Association conference
Regulatory reform causing concern for all involved; any changes made must be the right ones, say speakers at the BBA Annual International Banking Conference
Afghan deputy attorney general pursues central bank governor
Afghan deputy attorney general issues international arrest warrant after Abdul Qadeer Fitrat resigns and flees to the United States; action comes amid Kabul Bank scandal investigation
King defends governance of FPC
Bank of England governor Mervyn King says Financial Policy Committee should remain a committee of the Bank Court to preserve independence
Sweden gives Ingves six more years as governor
General council of the Riksbank extends Stefan Ingves’ term as governor for another six years; first deputy governor and deputy governor resign
Sir Mervyn King collects more titles in Basel
BIS reveals Bank of England governor to chair Global Economy Meeting, Economic Consultative Committee and Group of Governors and Heads of Supervision; takes over in November
Draghi appointed ECB president
European Council approves appointment of Bank of Italy governor Mario Draghi as next president of the European Central Bank
Belarus central bank first deputy appointed acting head
Belarusian first deputy chairman Yuri Alymov takes over from hospitalised central bank head Pyotr Prokopovich
Lagarde ready to get tough on Greece
Says she “will not shrink from the necessary candor and toughness” in discussions with European leaders
SNB’s Hildebrand identifies risks to central bank independence
Swiss National Bank chairman Philipp Hildebrand says central bank independence is crucial, but has its pitfalls