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EUROPEAN COUNCIL

Brussels, 22 November 2012 EUCO PRESSE 488

Mersch appointed to the executive board of the ECB

The European Council today adopted a decision appointing Yves Mersch to the executive board of the European Central Bank for a term of eight years as from 15 December

He will succeed José Manuel Gonzalez-Paramo, who completed his term of office on 31 May

Article 283(2) of the Treaty on the Functioning of the European Union specifies that appointments to the ECB executive board are made "by the European Council, acting by a qualified majority, from among persons of recognised standing and professional experience in monetary or banking matters, on a recommendation from the Council, after it has consulted the European Parliament and the Governing Council of the European Central

The ECB executive board is responsible for implementation of eurozone monetary policy, as laid down by the ECB governing council. It is composed of the President, the vice-president and four other members, all appointed for non-renewable eight-year terms. The governing council is composed of the six executive board members and the governors of the national central banks of the eurozone member states

Annex: Curriculum Vitae of Yves Mersch

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Bank

BANQUE CTRALE DU LUXEMBOURG

EUROSY5TÉME

CURRICULUM VITAE YVES MERSCH

Born 1st October 1949 in Luxembourg Married, 2 children

Present position

Since 1998 Governor of the Banque centrale du Luxembourg (BCL)

Member of the Governing Council and General Council of the European Central Bank

Other positions and mandates

Since 2011 Elected Co-Chair of the Financial Stability Board s Regional

Consultative Group for Europe

President of the Fondation de la Banque centrale du Luxembourg (BCL's Foundation) that promotes research and higher education in the BCL's fields of activity

Voting Member of the General Board of the European Systemic Risk Board

Since 2010 Deputy Chair of the Governing Board of the International Islamic

Liquidity Management Corporation (IILM)

Since 2006 Member of the Board of the Foundation "Luxembourg School of

Finance" (LSF)

Since 2000 President of the non-profit association "The Bridge Forum

Dialogue a.s.b.l", founded in 2000 with the participation of the European Union institutions and bodies established in Luxembourg

Since 1998 Alternate Governor for Luxembourg at the IMF's Board of

Governors

EUCO

u

BANQUE CTRALE DU LUXEMBOURG

EUR05YSTÉME

Professional career

1989 - 1998 Director of the Treasury

Personal Representative of the Minister of Finance during the negotiation of the Maastricht Treaty

1985- 1989 Government Commissioner for the Luxembourg Stock Exchange

(Securities Market Authority)

1983- 1998 Member of the Council of the Luxembourg Monetary Institute

(Banking Supervisory Authority)

1981 Adviser, international financial and monetary relations

Ministry of Finance

1980- 1981 Financial Counsellor, Permanent Representation of Luxembourg

to the United Nations Organisation. New York

1978 - 1979 Attaché, Ministry of Finance

1976- 1978 Secondment to the International Monetary Fund (IMF),

Washington, D.C

1975 Assistant, Ministry of Finance

1974 Admitted to the Luxembourg Bar

Major previous positions and mandates

■ Monetary Committee of the European Communities: alternate member from 1982 to 1985: full member from 1989 to 1998

■ World Bank: alternate Governor

■ European Bank for Reconstruction and Development (EBRD): alternate Governor

■ European Investment Bank (EIB): Board member

■ President of the Office du Ducroire (Export Credit Insurance Office)

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BANQUE CTRALE DU LUXEMBOURG

ÉUROSrSTËMÉ

■ Vice-President of Société nationale de crédit et d'investissement (Luxembourg National Development Bank)

■ Administrator representing the State on the boards of the following bodies:

o ARBED S.A. (steel company)

o Société européenne de satellites (SES) (European Satellite Company) o Entreprise des Posfes et Téiécommunications (Post and

Telecommunications Company) o Société Nationale des Habitations a Bon Marché (National Housing

Company)

o Banque et Caisse dEpargne de lEtat (State Savings Bank)

Yves Mersch is Officer of the National Order of the Legion of Honour (Ordre National de la Légion ó'honneur. France) and Grand Officer of the Order of the Cross of Recognition (Latvia)

Honours

Education

1975

Postgraduate degree in Political Science University Paris 1 Panthéon-Sorbonne

1974

Postgraduate degree in International Public Law Master of Political Science University Paris 1 Panthéon-Sorbonne

1973

Master of Law

University Paris 1 Panthéon-Sorbonne

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