Central Banking

Caruana gets top job at BIS

Jaime Caruana, the director of the International Monetary Fund's (IMF) monetary and capital markets department, will succeed Malcolm Knight as general manager of the Bank for International Settlements (BIS).

Caruana, a former governor of the Bank of Spain and chairman of the Basel Committee on Banking Supervision, will take over on 1 April 2009.

Caruana has been hotly tipped for the job since Knight stepped down in July.

As the BIS said on Friday, the official has had strong connections with