The Council of the European Union today (October 19) appointed Claudia Buch as new chair of the European Central Bank (ECB) supervisory board.

Buch currently serves as vice-president of the Deutsche Bundesbank. She will replace Andrea Enria on January 1, 2024, for a five-year term.

As chair of the supervisory board, Buch will lead the ECB’s oversight of the eurozone’s most significant banks. The Single Supervisory Mechanism (SSM) oversees 109 banks in the 20 eurozone member states plus