ECB: Christine Lagarde’s new principal advisor is a Flemish-Belgian economist

Brussels – Isabel Vansteenkiste will be the new principal advisor to Christine Lagarde, the President of the European Central Bank. The Flemish-Belgian economist, currently the ECB’s Director General for International and European Relations, will take up her post on September 15, when she will also assume the role of Coordinator of the ECB’s Executive Board. Vansteenkiste will advise Lagarde “on a wide range of economic and strategic policy issues,” the Frankfurt-based institution says. She will also assist in preparing Executive Board and Council meetings, as well as high-level international engagements.

 Vansteenkiste, 48, has been at the ECB since 2002. She was head of the ECB’s mission in Portugal from 2014 to 2017, overseeing the post-financial assistance granted to the country reviews between 2011 and mid-2014. As Deputy Director General for Economic Affairs, she participated in the meetings of the EU Council in its different technical and political formats (Eurogroup Working Group, Economic and Financial Committee, and the Eurogroup).

In her current position, she oversees the monitoring of market developments and the analysis of global economic trends, work that is fundamental to the production of forecasts on which the European Central Bank bases its monetary policy decisions. In addition, the Belgian economist supports the Executive Board in formulating policy positions on international, EU, and eurozone issues. Vansteenkiste takes over from Roland Straub, who will act as General Manager of Market Operations starting September 15. 

“I am very much looking forward to working with Isabel Vansteenkiste in her new role,” Christine Lagarde said. From the ECB President also comes her “heartfelt gratitude to Roland Straub for his hugely valuable contributions and unwavering commitment over many years, which I know will continue in his new role.”