ECB appoints Mauro Grande to new Directorate General Financial Stability role

The European Central Bank (ECB) has made a new appointment as it seeks to deal with system risk in the financial sector, with Mauro Grande taking up the role of director general of the Directorate General Financial Stability.

The move is part of a wider restructuring at the ECB, which saw the Directorate Financial Stability and Supervision become the Directorate General Financial Stability. The reorganisation is aimed at dealing with the increased responsibilities the ECB now holds in monitoring, identifying and assessing system risks both in the euro area and the wider EU.

Within the new Directorate General, there will be three divisions: Financial Stability Surveillance, charged with monitoring and identifying systematic risk; Financial Stability Assessment, which will focus on the potential impact of risk; and Financial Services Policy, which will oversee financial regulation, supervision and crisis management.

Grande has been at the ECB for a number of years, as director of the Directorate Financial Stability Supervision and before that head of division. He began his career in finance at the Banca d’Italia.