The Council of the European Union has appointed François-Louis Michaud as the new Chair of the European Banking Authority (EBA). Michaud, currently the EBA's Executive Director, will assume the role on April 16, 2026, following what Ettl called “a very selective process”.
SELECTION PROCESS UNFOLDS
The appointment process began with the EBA's Board of Supervisors shortlisting candidates, followed by interviews in January 2026. The Council selected Michaud on February 26, 2026, and after a hearing, the European Parliament confirmed the decision during its plenary session on March 10, 2026. Michaud's term of office runs for five years and may be extended once.
According to Ettl, Michaud's experience in banking supervision, regulation and financial stability was gained across international, European and national institutions in four different countries. He has been serving as the EBA's Executive Director since September 1, 2020.
REACTIONS TO THE APPOINTMENT
Helmut Ettl, the EBA's Vice Chair, praised the appointment, stating: “As the Vice Chair of the EBA, I warmly congratulate François-Louis on his appointment as Chairperson after a very selective process. His extensive experience in banking supervision and regulation and financial stability, gained across international, European and national institutions in four different countries, together with his leadership, will serve the Authority well. He takes up this role at a particularly important time for the European financial system, and I wish him every success in his new role.”
Michaud said: “It is an honour to take up the role of Chairperson of the EBA, and a responsibility to take it at this important juncture for the European financial system and for the EBA. I am committed to ensuring that the EBA continues to deliver effective and consistent regulation and supervision across the EU and supports a resilient, efficient and competitive Single Market. I look forward to building on the strong foundations laid by my predecessors, and to working closely with all EBA stakeholders in the years ahead.”
THE EBA'S ROLE
Established in 2011, the EBA develops harmonised rules for financial institutions across the EU through the Single Rulebook, promotes convergence of supervisory practices, runs EU-wide stress tests and monitors risks to the EU banking sector.
TIMING
This change comes at a "particularly important time," as Ettl noted.
The EBA said it will shortly launch the recruitment of its next Executive Director.