Isabel Schnabel to leave ECB board early for senior role at IMF
Schnabel will start her role as director of the monetary and capital markets department on Jan 4.
Executive Board member Isabel Schnabel is set to leave her role at the European Central Bank (ECB) early to assume a senior position at the International Monetary Fund (IMF). The German official has been appointed as director of the monetary and capital markets department, with her new role beginning on January 4. In a letter to staff, Schnabel cited the opportunity to promote global monetary and financial stability and foster international collaboration as the driving force behind her decision.
Her premature departure at the ECB heightens the urgency of the 2027 leadership transition, as President Christine Lagarde and Chief Economist Philip Lane are also expected to depart. EU leaders aim to finalize all three appointments simultaneously, potentially at a December summit. France, Germany, and Spain are vying for representation on the ECB's Executive Board, with Spain pushing for a seat after Vice-President Luis de Guindos retired early in 2026.
Lagarde, who plans to step down in 2027, is reportedly eyeing a position at the World Economic Forum, with potential successors including Klaas Knot and Pablo Hernandez de Cos. Schnabel's appointment at the IMF marks a broader personnel overhaul, with the IMF seeking to bring in more women and experienced practitioners.
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