Pablo Hernández de Cos Appointed General Manager of BIS

Pablo Hernández de Cos has been appointed as the new General Manager of the Bank for International Settlements (BIS), effective July 1, 2025, succeeding Agustín Carstens. Previously the Governor of the Bank of Spain, Hernández de Cos has extensive experience within central banking and was instrumental in discussions regarding central bank digital currencies (CBDCs). His leadership comes at a time when the BIS is focused on financial innovation and global collaboration among central banks. The BIS, which serves as a forum for central bankers, owns 63 central banks and has played a significant role in shaping global economic policy. François Villeroy de Galhau, chair of the BIS Board, expressed confidence in Hernández de Cos's capabilities to uphold the institution's values of international trust and technical excellence. As he steps into this new role, there is speculation about his potential candidacy for a seat on the European Central Bank's board in the future.