Mr. Jaime Caruana
Governor, Bank of Spain
Chairman, Basel Committee on Banking Supervision

Mr. Jaime Caruana was appointed Governor of the Banco de España in July 2000. Consequently, he is a Member of the Governing Council of the European Central Bank. He was appointed Chairman of the Basel Committee on Banking Supervision in March 2003 and effectively started his chairmanship in May 2003.

In February 2001, Mr. Caruana became a Member of the Basel Committee on Banking Supervision until his appointment as Chairman of the Basel Committee on Banking Supervision.

In 1999, Governor Caruana became Director General for Banking Supervision at the Banco de España until his appointment as Governor of the Banco de España.

He was a Member of the Board of the SEPA (State Holding Company Conducting Privatisations) and sat on the Monetary Committee of the European Union from 1996-1999. He was President of the SETE (State Company for the Introduction of the Euro).

In 1996, Mr. Caruana was appointed Director General of the Treasury and Financial Policy and, by extension, sat as a Member of the Board of the Spanish Securities and Exchange Commission and a Member of the Governing Council of the Banco de España.

From 1987 to 1991, the Governor worked in the private sector as Managing Director of an Investment Service Company and as President of a Fund Management Company, from 1991 to 1996.

Previously he was the Commercial Attaché to the Spanish Commercial Office in New York from 1984 to 1987.

In 1979, Mr. Caruana joined the Spanish Ministry of Finance, where he was assigned to various posts in the Directorate General for Imports and in the Spanish Foreign Trade Institute.

Mr. Jaime Caruana earned his Telecommunications Engineering degree from the Universidad Complutense de Madrid in 1974. Subsequently, in 1979, he continued his studies in the Economista y Técnico Comercial del Estado (Group of Government Advisers on Economy, Finances and Trade).