ECB Appoints Four New Directors General to Head SSM

On 9 January 2014, the European Central Bank (ECB) published a press release announcing the appointment of four Directors General who will head the single supervisory mechanism (SSM) starting early 2014:

• Stefan Walter and Ramón Quintana will be tasked with the direct supervision of significant banks as Directorates General Micro-Prudential Supervision I and II respectively;
• Jukka Vesala will be responsible for the indirect supervision of all other banks in participating countries as Directorate General Micro-Prudential Supervision III; and
• Korbinian Ibel will provide horizontal and specialised services for the other three Directorates General as Directorate General Micro-Prudential Supervision IV.