FRANKFURT Feb 4 Frenchman Benoit Coeure will
become the European Central Bank's top negotiator in Brussels,
taking the key portfolios in a board reshuffle following Joerg
Asmussen's departure, the ECB said on Tuesday.
Asmussen left the ECB executive board in January to rejoin
the German government two years into his eight year term, during
which he acted as a so-called foreign minister for the ECB and
helped negotiate crucial elements of the banking union.
ECB President Mario Draghi decided to hand the high-profile
international portfolio to Coeure, who will also remain in
charge of market operations.
Sabine Lautenschlaeger, who left her job as vice president
at Germany's Bundesbank to numerically replace Asmussen on the
ECB board, is set to become No. 2 at the new European banking
watchdog, the Single Supervisory Mechanism (SSM).
Peter Praet remains head of the powerful economics portfolio
and as such will continue to propose an interest rate decision
at the beginning of each month's policy meeting.
ECB Vice President Vitor Constancio, who had been tasked
with setting up the SSM together with Yves Mersch, holds on to
the financial stability tasks.
(Reporting by Eva Taylor; Editing by Paul Carrel)