ECB board member Isabel Schnabel to leave early for IMF leadership role

Isabel Schnabel, one of only two women on the ECB board and responsible for market operations, will depart the institution earlier than planned to take charge of the International Monetary Fund's money and capital markets division. The ECB said she will continue in her present role until the handover is finalized. The European Council is tasked with naming a replacement, and the board may temporarily redistribute her duties among existing members.

Schnabel's early exit adds pressure on EU governments to fill multiple upcoming vacancies, including those of chief economist Philip Lane and President Christine Lagarde, whose terms also end later this year. Speculation has surrounded potential reshuffles of top ECB posts, with Germany, France and Italy holding de facto influence over board appointments.