The European Central Bank announced four changes Wednesday among its senior directors, with the new managers taking over in the midst of unprecedented financial turmoil. The ECB's director general of research, Lucrezia Reichlin, had resigned from her post on September 15, a statement said, and was replaced by Frank Smets as of that date.
Georges Pineau, meanwhile, would become the bank's permanent representative in Washington, which includes observer status at the IMF, on November 1.