Elizabeth McCaul

Information

Position

Former member of the supervisory board

Biography

Elizabeth McCaul is the first American to serve as a European Central Bank Representative to the ECB's Supervisory Board. Her non-renewable five-year term concluded in 2024. Her mandate included supervisory strategy, consistency and quality of supervision, risk, capital, internal governance, and training. She focused on prudential implications to financial stability, including private credit markets, capital markets and geopolitical risk. She served as the chair of the Board Steering Committee on the Digital Agenda overseeing supervision of operational resiliency, IT risk, crypto, cyber-security and new FinTech entrants. In 2020 to 2021 she participated in an organizational re-design of supervision which included the creation of a new unit for Supervisory Strategy and Risk, guided the unit during its first year of operation and participated in hiring its first Director. She served as the project sponsor for the Wise Person Group which conducted a comprehensive review of the effectiveness of supervision during 2022 and published its report in March of 2023. She had responsibility for supervision's interactions with the ECB's IT and Human Resources shared services. She was a member of the Macro-Prudential Forum. She joined the NY State Banking Department as First Deputy in 1995 and served as NY Superintendent of Banks from 1997-2003. She was elected Chair of the Conference of State Bank Supervisors, served as a Member of the Federal Financial Institutions Examinations Council, on the Joint Forum for Financial Conglomerates, and as an Instructor for Financial Stability Institute at the BIS. Before joining the ECB, she worked for Promontory Financial Group where she founded the New York office and served in a variety of senior roles including New York Partner-in-Charge, CEO and Chair of Promontory Europe/Middle East and Global Head of Strategy. For the first decade of her career, she was an investment banker at Goldman Sachs.