ECB has no objection to Elderson’s appointment to board

FRANKFURT (Reuters) – The European Central Bank has no objection to the appointment of Dutch bank supervisor Frank Elderson to its executive board to replace Yves Mersch, whose term expires on Dec. 14, it said in a statement on Wednesday.

Elderson, whose approval by euro zone leaders is likely to be a formality, is also expected to become the deputy head of the ECB’s bank supervision arm.

(Reporting by Balazs Koranyi; Editing by Alison Williams)