José Manuel Campa resigns as president of the European Banking Authority

The chairman of the European Banking Authority, José Manuel Campa, will step down on January 31 , Bloomberg reports, citing a spokesperson for the institution.

Between 2009 and 2011 , he served as Secretary of State for the Economy during José Luis Rodríguez Zapatero's second administration. He also served as Global Director of Regulatory Affairs.

He has also taught at IESE Business School and Columbia University. He holds a Master's degree in Economics from Harvard University and bachelor's degrees in Law and Economics from the University of Oviedo.

Campa, a 60-year-old native of Oviedo, became president of the EBA in 2019 and had his term renewed last year until May 2029. Thus, his term ends well ahead of schedule.

"Of course, the EBA is taking all appropriate measures to ensure a smooth transition until a new president is appointed," the EBA confirmed to Bloomberg, according to Ep.

The European Banking Authority coordinates banking regulation in Europe and plays a key role in the biennial stress tests that Europe's banks undergo to certify their solvency in times of crisis.