BIS Announces Appointment of Raphael Auer as Head of the Innovation Hub Eurosystem Centre

On January 6, the Bank for International Settlements (BIS) announced the appointment of Raphael Auer as the head of BIS Innovation Hub (BISIH) Eurosystem Center. With his wide work experience, Mr. Auer will help spearhead the vision and strategy of the Eurosystem Centre whose main functions involve overseeing the development of RegTech and SupTech, central banks digital currencies (CBDCs) and the ‘next-generation’ financial markets infrastructures. The Eurosystem Centre, which will be opened in the first half of 2022, would have locations in Paris and Frankfurt. The Eurosystem constitutes the European Central Bank (ECB) and the Central Banks of the 19 European Union (EU) member states that use the Euro.

The BISIH Eurosystem Centre is joining a growing network of the BIS Innovation Hub centers that the BIS has established across the world. The BIS Innovation Hub was developed two years ago to become a focal point for central bank experts on innovation, to explore the development of tools to enhance the functioning of the global financial system, and to identify and develop insights into
 
 fintech 
trends.

Mr. Auer currently serves as the principal economist in the BIS’ Monetary and Economic Department, working with a unit committed to Innovation and the Digital Economy. Auer’s current role focuses on cryptocurrencies, stablecoins, and CBDCs. Prior joining the BIS in 2015, Auer worked at the Swiss National Bank as Deputy Head of International Trade and Capital Flows. He holds a PhD in economics from the Massachusetts Institute of Technology. He is expected to start his new role in February 2022.

Benoît Cœuré, Head of the BIS Innovation
 
 Hub 
, talked about the development and said: “I am delighted that Raphael is joining the Innovation Hub team. His deep-seated knowledge of digital currencies and financial technology, gained through his extensive experience as a policy and research economist, will strengthen the intellectual foundations of the practical experimentations conducted by the Innovation Hub. The Eurosystem centre’s work will be a key part of the Innovation Hub’s growing project portfolio and will connect us with the euro area’s vibrant innovation ecosystem.”

How BIS Innovation Hub Is Creating Enabling Fintech Ecosystems

The BIS Innovation Hub was established in 2019 and maintains centers in London, Singapore, Hong Kong, Stockholm and Switzerland, with further centers planned to be opened soon in Frankfurt, Paris, and Toronto. The BIS recently formed a strategic partnership with the Federal Reserve Bank Of New York. The aim of the BIS Innovation Hub is to build deep insights into relevant technological developments that affect central banking and to develop public goods on the technology landscape geared toward improving the functioning of the global banking and financial services. Employees of the BIS work on various projects at the BIS Innovation Hub’s centres.

On January 6, the Bank for International Settlements (BIS) announced the appointment of Raphael Auer as the head of BIS Innovation Hub (BISIH) Eurosystem Center. With his wide work experience, Mr. Auer will help spearhead the vision and strategy of the Eurosystem Centre whose main functions involve overseeing the development of RegTech and SupTech, central banks digital currencies (CBDCs) and the ‘next-generation’ financial markets infrastructures. The Eurosystem Centre, which will be opened in the first half of 2022, would have locations in Paris and Frankfurt. The Eurosystem constitutes the European Central Bank (ECB) and the Central Banks of the 19 European Union (EU) member states that use the Euro.

The BISIH Eurosystem Centre is joining a growing network of the BIS Innovation Hub centers that the BIS has established across the world. The BIS Innovation Hub was developed two years ago to become a focal point for central bank experts on innovation, to explore the development of tools to enhance the functioning of the global financial system, and to identify and develop insights into
 
 fintech 
trends.

Mr. Auer currently serves as the principal economist in the BIS’ Monetary and Economic Department, working with a unit committed to Innovation and the Digital Economy. Auer’s current role focuses on cryptocurrencies, stablecoins, and CBDCs. Prior joining the BIS in 2015, Auer worked at the Swiss National Bank as Deputy Head of International Trade and Capital Flows. He holds a PhD in economics from the Massachusetts Institute of Technology. He is expected to start his new role in February 2022.

Benoît Cœuré, Head of the BIS Innovation
 
 Hub 
, talked about the development and said: “I am delighted that Raphael is joining the Innovation Hub team. His deep-seated knowledge of digital currencies and financial technology, gained through his extensive experience as a policy and research economist, will strengthen the intellectual foundations of the practical experimentations conducted by the Innovation Hub. The Eurosystem centre’s work will be a key part of the Innovation Hub’s growing project portfolio and will connect us with the euro area’s vibrant innovation ecosystem.”

How BIS Innovation Hub Is Creating Enabling Fintech Ecosystems

The BIS Innovation Hub was established in 2019 and maintains centers in London, Singapore, Hong Kong, Stockholm and Switzerland, with further centers planned to be opened soon in Frankfurt, Paris, and Toronto. The BIS recently formed a strategic partnership with the Federal Reserve Bank Of New York. The aim of the BIS Innovation Hub is to build deep insights into relevant technological developments that affect central banking and to develop public goods on the technology landscape geared toward improving the functioning of the global banking and financial services. Employees of the BIS work on various projects at the BIS Innovation Hub’s centres.

Source: https://www.financemagnates.com/executives/bis-announces-appointment-of-raphael-auer-as-head-of-the-innovation-hub-eurosystem-centre/