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Lagarde wins race to run European Central Bank

France’s Christine Lagarde will take over at the top of the European Central Bank after a marathon summit of EU leaders.

The bloc nominated Lagarde after three days of summit and early rejections of suggested appointments by both the socialist and green groups in Strasbourg’s assembly.

Lagarde was the first woman to become France’s finance minister before heading up the International Monetary Fund.

Reuters reports outgoing chair of EU summit Donald Tusk as saying: “Christine Lagarde will…be a perfect president of the European Central Bank.

“I am absolutely sure that she will be a very independent president…”

In another positive move for women, the EU’s executive arm, the European C omission, will see German defence minister Ursula von der Leyen, who takes over from incumbent Jean-Claude Junker.

Reuters reports Tusk as sounding a positive note on the move towards greater female representation at senior positions in the EU.

“After all, Europe is a woman,” he reportedly said in reference to Europa, the Greek deity after which the continent takes its name.


Hot air balloons

US billionaires call for new wealth tax

A group of billionaires in America have written a letter to presidential candidates calling for the super-rich to face a new wealth tax. The signatories include some of the richest people in the US, from investor George Soros and Facebook co-founder Chris Hughes, to Molly Munger, daughter of Berkshire Hathaway vice chairman Charlie Munger. While […]


FCA visits DB transfer advisers as supervision stepped up

The FCA is stepping up its supervision of defined benefit transfer advice as fresh data shows a significant majority of clients are being told to transfer. The regulator has revealed the results of a data collection exercise this morning, which shows that of the 234,951 scheme members that had received advice on transferring between April […]

CII names new president

The Chartered Insurance Institute has appointed ex-Personal Finance Society president, Nick Turner as president of the board. Turner (pictured) was president of the PFS board from 2016 to 2017, becoming deputy president of the wider body, CII, in 2018. He is also chairman of MSIL, NFU Mutual’s advice subsidiary. The CII says Turner has worked […]


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