EUROPE - The European Insurance and Occupational Pensions Authority (EIOPA) has chosen Carlos Montalvo to become the authority's first executive director.
The appointment of Montalvo follows an exhaustive selection process that saw 300 candidates shortlisted, with the final shortlist interviewed by Michel Barnier, European Commissioner for the internal market.
According to a statement made by EIOPA, Montalvo, as executive director, will function as an independent representative presiding over the day-to-day management of the authority.
He is currently acting secretary general of EIOPA and will hold the position for five years, with the opportunity to be selected for a second, five-year term.
Montalvo was named secretary general of the Committee of European Insurance and Occupational Pensions (CEIOPS), precursor to EIOPA, in late 2007 and has previously worked at the Dirección General de Seguros y Pensiones, the Spanish insurance and pensions supervisory authority.
The confirmation of Montalvo as executive director will round out the top management of EIOPA, with Victor Rod named vice-chairman and Gabriel Bernardino first chair.
Montalvo's appointment has yet to be confirmed by the European Parliament.
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