Biography
Caruana was born in Valencia, and graduated in telecommunications engineering from the Technical University of Madrid (UPM) in 1974. He served a six year term as Bank of Spain Governor, beginning July 21, 2000 and ending in July 2006. Currently he is a member of the influential Washington-based financial advisory body, the Group of Thirty. He was also chairman of the Basel Committee on Banking Supervision since May, 2003. Caruana took over the Basel II project at a difficult time, and won respect and praise from both regulators and the financial services industry for ultimately delivering the revised accord in June 2004. In August 2006, Jaime Caruana was appointed to the International Monetary Fund (IMF) by Rodrigo de Rato, as counsellor and director of the Monetary and Capital Markets Department, a new financial, capital and regulatory department.
He is succeeded at the Bank of Spain by former secretary of State for Commerce, Miguel Ángel Fernández Ordóñez.
Read more about this topic: Jaime Caruana
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