Bombshell at BIS: Innovation Hub Boss Cecilia Skingsley Bails Early Amid Leadership Shake-Up

Skingsley's Shocking Departure

Hold onto your hats, crypto fans! Cecilia Skingsley, the big cheese at the BIS Innovation Hub, is jetting off next month, ditching her five-year gig a whopping two years early. This shake-up comes as the central bank body stirs the pot with a major leadership overhaul.

Digital Currency Diva Leaves the Stage

Get this: Skingsley, who's been steering the BIS Innovation Hub ship since September 2022, is jumping ship way ahead of schedule. The Hub, launched back in 2019, has been all about helping central banks dive into the wild world of new financial tech, including those hot-button central bank digital currencies (CBDCs).

From Humble Beginnings to Global Powerhouse

Starting with just a few centers, the Innovation Hub has exploded onto the scene, now boasting seven financial hubs worldwide, from London to Hong Kong. They're on a mission to help central banks get hip to the latest tech trends.

New Gig in the Government

So, where's Skingsley off to? She's trading in her BIS badge for a government role as County Governor of Stockholm County. She's set to start her new gig next month, leaving the crypto world buzzing with questions.

New Sheriff in Town

Get ready for a new face at the top: Pablo Hernandez de Cos is set to take the reins as BIS general manager come July. Word on the street is his arrival might mean scaling back some of the Innovation Hub's wilder projects. They recently pulled the plug on a big digital currency collab with China and a bunch of Asian central banks, all thanks to those pesky geopolitical tensions swirling around CBDCs.

Carstens Gives Props

BIS bigwig Agustín Carstens isn't letting Skingsley leave without a shout-out. He's singing her praises, saying the Innovation Hub "made great strides towards fulfilling our strategic goal of helping central banks face the challenges of the future" under her watch.

What's Next for the Innovation Hub?

The BIS is keeping us on our toes, promising to spill the beans on the search for Skingsley's replacement "in due course." In the meantime, Andréa Maechler, the deputy general manager and a former Swiss central banker, is stepping up to keep the Innovation Hub's engines running as interim head.