Jaime Caruana (born 14 March 1952) is a Spanish economist. He served as the General Manager of the

Bank for International Settlements The Bank for International Settlements (BIS) is an international financial institution owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work thr ...

from 1 April 2009 to 30 November 2017. He was also the

Governor of the Bank of Spain The Governor of the Bank of Spain ( es, Gobernador del Banco de España) is the head of the Bank of Spain, the central bank of the Kingdom of Spain. The Bank of Spain is integrated in the European System of Central Banks and, as such, the Governor ...

from July 2000 to July 2006.

Early life and education

Caruana was born in

Valencia Valencia ( va, València) is the capital of the autonomous community of Valencia and the third-most populated municipality in Spain, with 791,413 inhabitants. It is also the capital of the province of the same name. The wider urban area al ...

, and graduated in telecommunications engineering from the

Technical University of Madrid The Technical University of Madrid or sometimes called Polytechnic University of Madrid ( es, Universidad Politécnica de Madrid, UPM) is a public university, located in Madrid, Spain. It was founded in 1971 as the result of merging different Te ...

(UPM) in 1974.

Career

Caruana served a six-year term as Bank of Spain Governor, beginning 21 July 2000 and ending on 12 July 2006. In this capacity, Caruana was also chairman of the

Basel Committee on Banking Supervision The Basel Committee on Banking Supervision (BCBS) is a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten (G10) countries in 1974. The committee expanded its membership in 2009 a ...

since May, 2003. Caruana took over the

Basel II Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. It is now extended and partially superseded by Basel III. The Basel II Accord was publ ...

project at a difficult time, and won respect and praise from both regulators and the financial services industry for ultimately delivering the revised accord in June 2004. In August 2006, Jaime Caruana was appointed to the

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glo ...

(IMF) by

Rodrigo de Rato Rodrigo de Rato y Figaredo (born 18 March 1949) is a Spanish politician who served in the Council of Ministers from 1996 to 2004. He also served as the ninth managing director of the International Monetary Fund (IMF) from 2004 to 2007 and the p ...

, as counsellor and director of the Monetary and Capital Markets Department, a new financial, capital and regulatory department. He was succeeded at the Bank of Spain by former secretary of State for Commerce, Miguel Ángel Fernández Ordóñez. Caruana took over as BIS general manager in April 2009. After completing five years in office in 2014, his term was extended by another three years.

Other activities

Banco Bilbao Vizcaya Argentaria Banco Bilbao Vizcaya Argentaria, S.A. (), better known by its initialism BBVA, is a Spanish multinational financial services company based in Madrid and Bilbao, Spain. It is one of the largest financial institutions in the world, and is present ...

, Member of the Board of Directors (since 2018)of Directors
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Group of Thirty The Group of Thirty, often abbreviated to G30, is an international body of financiers and academics which aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sec ...

, Member

References

{{DEFAULTSORT:Caruana, Jaime 1952 births Group of Thirty Living people People from Valencia Polytechnic University of Madrid alumni Basel II Governors of the Bank of Spain