The team

Paul Hiebert

Head of Systemic Risk and Financial Institutions Division

European Central Bank


Paul heads the Systemic Risk and Financial Institutions Division of the European Central Bank (ECB). In this role, he leads systemic risk analysis for the euro area feeding into the ECB’s flagship Financial Stability Review, as well as macroprudential policy for the largest euro area banks. Beyond this, Paul chairs the European Systemic Risk Board’s Analytical Working Group / Eurosystem Macroprudential Analysis Group, the European Systemic Risk Board’s Climate Risk Project Team, and has also led analytical work on climate for the Basel Committee on Banking Supervision. These roles build on over 20 years of experience within the ECB, the International Monetary Fund, the Reserve Bank of Australia and the Canadian Department of Finance in various capacities—spanning economic, financial and policy functions for a wide range of countries. He has published on a diverse set of topics, including financial cycles, climate change, global banking, macroprudential policy, housing markets, and fiscal policy. He holds an M.A. in Economics from McGill University in Montréal.



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