The Bank for International Settlements today announced that its general manager and CEO, Malcolm Knight, will leave the BIS at the end of September.

Knight, who was a senior official with the Bank of Canada before joining the BIS, has been general manager since April 2003. His term of office was due to end in June next year.

Knight is resigning from the BIS to accept an appointment as non-executive vice chairman of Deutsche Bank Group, with responsibility for coordinating group-wide issues on regulation, supervision and financial stability for the management board. He has also accepted an appointment as visiting professor in finance at the London School of Economics and Political Science, beginning October 1.

The BIS board of directors has initiated the search process for a new general manager.

“Mr Knight’s achievements as general manager have been manifold,” said Jean-Pierre Roth, chairman of the BIS board. “He has overseen major enhancements in the management of the BIS, particularly in the areas of governance, risk control and economic analysis. During his tenure, the BIS’s role as a forum for central bank cooperation has been further strengthened. I, along with the other board members and the BIS’s shareholding central banks, wish him all the very best for the future”.