The Basel Committee on Banking Supervision has named veteran bank regulator William Coen as its next secretary general.

Coen has been the Basel Committee’s deputy secretary general for the past seven years. He was with the Bank for International Settlements for 15 years, and before that he had various positions with the Board of Governors of the U.S. Federal Reserve System.

Coen will assume his new responsibilities for an initial term of three years, starting in mid-June. He will also serve as the chairman of the Basel Committee’s policy development group.

“As deputy secretary general, Bill has been integral to the development of the Basel Committee’s post-crisis regulatory reform agenda,” said Stefan Ingves, chairman of the Basel Committee and governor of Sveriges Riksbank. “Given his strong regulatory and supervisory background and long-standing involvement in the entirety of the Basel Committee’s work program, Bill is ideally suited to carry out the responsibilities of secretary general.”

The outgoing secretary general, Wayne Byres, is to become chairman of the Australian Prudential Regulation Authority in June.