Isabel Schnabel is in talks to leave the European Central Bank early for a senior role at the International Monetary Fund, according to a report by German newspaper Handelsblatt.
The German economist is being considered to lead the IMF’s Monetary and Capital Markets Department in Washington, a position that became vacant after Tobias Adrian stepped down on 31 August. The department oversees work on financial-sector surveillance, monetary policy, financial stability and capital markets. ([marketscreener.com](https://www.marketscreener.com/news/ecb-s-schnabel-may-leave-early-for-imf-job-handelsblatt-reports-ce7858d3d18afe23?utm_source=openai))
Neither the ECB nor the IMF confirmed the report. An ECB spokesperson declined to comment, while the Fund said its recruitment process was under way.
Schnabel has been a member of the ECB’s six-person executive board since January 2020 and is responsible for market operations, research and statistics. Her term is formally due to run until 31 December 2027. ([ecb.europa.eu](https://www.ecb.europa.eu/ecb/decisions/eb/html/executive-board-terms-of-office.en.html?utm_source=openai))
She has established herself as one of the more hawkish voices in European monetary policy, frequently stressing the need to keep inflation under control. An early departure would therefore alter the balance within the ECB’s executive board and accelerate a wider reshuffle of its senior leadership.
The board is already due to lose chief economist Philip Lane when his term ends in May 2027, while ECB president Christine Lagarde’s mandate is scheduled to finish in October that year. The prospect of several senior vacancies being filled in quick succession is expected to intensify discussions among eurozone governments over appointments.
Handelsblatt said Schnabel’s move to the IMF would also remove her from consideration as a potential German candidate to succeed Lagarde.
