Pablo Hernández de Cos | |
|---|---|
 | |
| General Manager of theBank for International Settlements | |
| Assumed office 1 July 2025 | |
| Chair | François Villeroy de Galhau |
| Preceded by | Agustín Carstens |
| 70thGovernor of the Bank of Spain | |
| In office 11 June 2018 – 11 June 2024 | |
| The governor of Bank of Spain is aState Counsellor of Spain | |
| Preceded by | Luis María Linde |
| Succeeded by | José Luis Escrivá (Acting: Margarita Delgado Tejero |
| Personal details | |
| Born | (1971-01-20)20 January 1971 (age 54) |
| Alma mater | CUNEF University (CUNEF) Complutense University |
Pablo Hernández de Cos (born 20 January 1971) is a Spanish economist and monetary policymaker who has served as the general manager of theBank for International Settlements since 1 July 2025.[1] He served as the 70thgovernor of the Bank of Spain from 2018 to 2024. He also served as chairman of theBasel Committee on Banking Supervision and as chair of the Advisory Technical Committee of theEuropean Systemic Risk Board.
Hernández de Cos became a senior fellow at thePeterson Institute for International Economics in August 2024,[2] and atBruegel in September 2024.[3] He is also a professor atIESE Business School.[4]
Hernández de Cos graduated in economic and business sciences from theCUNEF University (CUNEF) in 1993, in law from theNational University of Distance Education the following year and obtained his PhD in economics from the Complutense University in 2004, whose thesis was directed byJosé Manuel González-Páramo.[5] In 2009 he completed a management programme at the IESE Business School of theUniversity of Navarra.[6] He has been an associate lecturer at the Economics Department ofCharles III University of Madrid and theIE Business School (IE).
Hernández de Cos joined the Bank of Spain in 1997 as economist of its research service. Between 2004 and 2007 he was advisor to the executive board of theEuropean Central Bank. From 2015 he held the position of general director of the Directorate General of Economy and Statistics of the organization after the resignation of Luis Malo de Molina who had held the position since 1992.[7]
On 28 May 2018, Hernández de Cos was proposed by the Spanish government for the position ofgovernor of the Bank of Spain,[8][9] and on 30 May was appointed to the position effective 11 June;[10][11] when he took office before KingFelipe VI at a ceremony held atPalace of Zarzuela.[12] His appointment was one of the last decisions of theSecond Cabinet of Mariano Rajoy before thevote of no confidence that was successful and resulted in the downfall of Rajoy's government.[12]
The press has highlighted the technical nature of Hernández de Cos' profile, with no political past.[5][13][14] TheMinistry of Economy, following the announcement of his appointment, stressed that "he is an excellent candidate for the post of governor due to his great technical training, particularly in banking and monetary matters; his political independence; and his experience and prestige in the Bank of Spain and the European Central Bank."[6]Unidos Podemos has described him as "ahawk, but with an impeccable technical profile and, at least, he knows economics."[6] Hernández de Cos himself has publicly advocated for giving the Parliament a greater role in the appointment of central bank chiefs and extending future governorship terms to eight years from six.[15] Hernández de Cos was the second youngest governor since Spain'stransition to democracy after José Ramón Álvarez Rendueles, who was appointed governor in 1978, at the age of 38.[citation needed]
In March 2019, Hernández de Cos succeededStefan Ingves as chairman of theBasel Committee on Banking Supervision (BCBS) for a three-year term that can be renewed once.[16] In July 2019, he was appointed Chair of the Advisory Technical Committee of theEuropean Systemic Risk Board.[17]
Hernández de Cos' six-year term ended on 11 June 2024, automatically leaving office and being replaced by the deputy governor, Margarita Delgado Tejero, until the appointment of a new incumbent.[18]
In 2024, he joined the faculty of IESE Business School as Professor of the Practice of Management.[4]
Media related toPablo Hernández de Cos at Wikimedia Commons
| International | |
|---|---|
| National | |
| People | |
| Other | |
