RegulationAccounting StandardsVolcker replaced as trustees head of IASB

Volcker replaced as trustees head of IASB

Italian banker to take Paul Volcker's job at IASB

An Italian banker is to replace Paul Volcker as head of trustees at the
International Accounting Standards Board.

Tommaso Padoa-Schioppa, who is reported to be a candidate for the Bank of
Italy governor’s position, is to take over from 1 January.

By moving from a US head to a European the IASB is being seen to address
concerns that it is insensitive to the concerns of its European members.

The appointment of Padoa-Schioppa will please the EC’s internal market
commissioner Charlie McCreevy who has lobbied consistently for a rebalancing of
interests on the IASB.

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