Luxembourg government has named Gaston Reinesch as the new head of its central bank, with an aim to better regulate the country’s financial intuitions.
Subject to sanction by European Union institutions, Reinesch will take the place of Yves Mersch, who is going to join the European Central Bank’s executive board.
Reinesch is currently serving as a senior administrator in the Finance Ministry of Luxembourg and has previously held several positions.
He has also served as chairman of SNCI, a state-owned bank specializing in medium-term and long-term financing of investments made by Luxembourg-based companies.
Apart from this, Reinesch also sits on the board of directors of BGL BNP Paribas as well as acts as a member of the Board of Directors of the European Investment Bank, and satellite company SES.