ECB nominates Elderson as new bank supervisor

FRANKFURT (Reuters) – The European Central Bank nominated Frank Elderson as the deputy chair of its bank supervision arm, it said on Friday, confirming a widely expected move.

Elderson, who joined the ECB board on Dec. 15, will be appointed by the European Union council after approval by the European Parliament.

Elderson will replace Yves Mersch, whose term at the ECB expired on Dec 14.