Bank for International Settlements chief joins Group of Thirty

The Group of Thirty added Pablo Hernández de Cos, the General Manager of the Bank for International Settlements and former governor of the Bank of Spain, to its membership on July 8. The move brings one of Europe’s top banking regulators into a forum focused on global financial stability, regulation and central banking.

Why it matters: - Pablo Hernández de Cos brings direct experience in banking regulation, systemic risk and monetary policy to a group that advises on global financial stability. - His addition comes as international financial cooperation faces strain and central bank independence faces pressure. - The Group of Thirty also gets a member with recent leadership experience at the Bank for International Settlements, the Bank of Spain and the European Central Bank’s Governing Council.

What happened: - The Group of Thirty announced on July 8, 2026, that Pablo Hernández de Cos has joined its membership. - Hernández de Cos is General Manager of the Bank for International Settlements and former Governor of the Bank of Spain. - The announcement was made from Washington, D.C. - Hernández de Cos served as Governor of the Bank of Spain from 2018 to 2024. - He was a member of the European Central Bank’s Governing Council during that same period. - He chaired the Basel Committee on Banking Supervision from 2019 to 2024.

The details: - Hernández de Cos has worked across macroeconomics, fiscal policy, monetary policy and financial stability. - His career has combined academic research with high-level policymaking. - The Group of Thirty was founded in 1978. - The organization is an independent global body of leaders from the public sector, private sector and academia. - The Group of Thirty focuses on deepening understanding of economic and financial issues and the international effects of public and private decisions. - Members participate in a personal capacity, not as representatives of their employers or institutions. - The full current membership list is available here. - Tharman Shanmugaratnam, chair of the Board of Trustees, said Hernández de Cos will make a distinctive contribution because of his leadership in banking regulation, systemic risks and international financial interconnections. - Raghuram Rajan, chair of the Group of Thirty, said Hernández de Cos is especially relevant now as the rules for global financial cooperation face strain and nonbank finance and digital innovation grow.

Between the lines: - The appointment signals the Group of Thirty’s continued emphasis on central banking, regulation and cross-border financial oversight. - Bringing in a sitting top official from the Bank for International Settlements may strengthen the group’s influence in debates over global financial rules. - The comments from both chairs point to concern about a more fragmented financial system and the need for stronger policy coordination. - Hernández de Cos said he is honored to join the group and looks forward to working with colleagues on major global economic and financial challenges.

What's next: - Hernández de Cos will participate in the Group of Thirty in his personal capacity. - The group is likely to use his experience in future work on financial stability, regulation and international cooperation. - The Group of Thirty’s current membership remains available through its public member list.