Washington, DC: Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), announced today her intention to appoint Ms. Isabel Schnabel as the Fund's next Financial Counsellor and Director of the Monetary and Capital Markets Department (MCM), effective January 4, 2027.
Announcing the appointment, Managing Director Kristalina Georgieva described Ms. Schnabel as a highly distinguished economist and policymaker, and a leading voice on monetary policy, financial markets, and financial stability. "Throughout her impressive career, Isabel has demonstrated intellectual leadership in research and in practical policymaking. Her deep expertise at the intersection of central banking, capital markets, and financial stability will be invaluable as the Fund guides its 191 members through a rapidly changing global financial landscape.
Ms. Schnabel currently serves on the Executive Board of the European Central Bank (ECB), where she is responsible for market operations, research, and statistics. She is also a member of the ECB's Governing Council, which sets monetary policy for the euro area. Since joining the ECB in 2020, she has played a central role in the institution's response to the pandemic, the 2022 energy price shock and cost of living crisis, and periods of financial market stress. She also led the development of the ECB's new monetary policy implementation framework and has championed innovation, including the adoption of artificial intelligence and the modernization of supervisory and statistical reporting.
Before joining the ECB, Ms. Schnabel was a member of the German Council of Economic Experts, Vice Chair of the Advisory Scientific Committee of the European Systemic Risk Board, and Chair of the Advisory Board of BaFin, Germany's Federal Financial Supervisory Authority. Through these roles, she developed deep expertise in macroprudential policy, banking supervision, capital markets, and financial regulation.
Ms. Schnabel also brings outstanding academic credentials to the role. She is Professor of Financial Economics at the University of Bonn and earned her doctorate in economics, with highest distinction, from the University of Mannheim. Her research on banking crises, systemic risk, financial regulation, international finance, and economic history has been published in leading academic journals.
"Isabel is a well-respected leader and communicator," said Ms. Georgieva. "She is well known for her collaborative leadership style, commitment to developing talent, and ability to build consensus around complex policy issues. At a time of profound transformation, her intellectual leadership, policy experience, and commitment to international cooperation will further strengthen the Fund's work to promote global monetary and financial stability. We look forward to welcoming her to the Fund."
