Jaime Caruana is Counselor to the Managing Director and Director of a newly established department of the International Monetary Fund, the Monetary and Capital Markets Department, which is responsible for all aspects of the Fund's financial, capital market, and monetary work.

Prior to assuming this position, Mr. Caruana was the Governor of the Banco de España, Spain's central bank.

In addition to serving on the Governing Council of the European Central Bank, he is also the Chairman of the Basel Committee on Banking Supervision and, in that capacity, a member of the Financial Stability Forum.

Prior to joining the Banco de España, Mr. Caruana served as Director of the Spanish Treasury and headed investment services and fund management companies for nearly 10 years.