Guarantor for stable banks
Danièle Nouy is head of the new European banking regulator.
HEAD OF THE NEW WATCHDOG. In future, Europe’s banks are to be supervised more thoroughly, undesirable developments recognized earlier, and potential crises averted. This is Danièle Nouy’s field. The French financial expert heads the Single Supervisory Mechanism, which Eurozone countries resolved to set up in 2013. The new supervisory body is located at the European Central Bank (ECB) in Frankfurt am Main and is currently in the process of being established. It is intended to be operational by late 2014; around 1,000 staff will support Nouy in her task. Having begun her career at the Banque de France, Nouy has almost 40 years’ experience in banking supervision. She has also held international positions, among others in New York. Nouy will encounter another strong woman in finance at the ECB, namely Sabine Lautenschläger. She is the first woman on the bank’s Executive Board. Formerly vice president of the Bundesbank, Lautenschläger joined the ECB in February and it is safe to say that she was pleased to do so: “A bad mood doesn’t help solve problems,” she quips.
