Már Gudmundsson appointed Governor of the Central Bank of Iceland

The Bank for International Settlements (BIS) announced today that Már Gudmundsson, Deputy Head of the Monetary and Economic Department, has been appointed Governor of the Central Bank of Iceland. He has been at the BIS since June 2004.

It is expected that Mr Gudmundsson will take up the position of Governor of the Central Bank of Iceland before the end of August.

BIS General Manager Jaime Caruana said today: "Although we will be sad to see Már leave, we wish him all the very best in his new role. During the past five years, he has been a much valued member of the Bank's senior management team. We look forward to continuing to work with him in this new capacity."

After graduating from the University of Cambridge (M Phil), Már Gudmundsson entered central banking in 1980 as an economist at the Central Bank of Iceland, where he was later Chief Economist (1994-2004). From 1988 to 1991, he was the Chief Economic Adviser to Iceland's Minister of Finance. He has also been a member of various governmental committees, including on central bank legislation, pension reform, and energy.