Croatian central bank governor Boris Vujčić named ECB Vice-President

Croatian central bank chief Boris Vujčić has been named the next Vice-President of the European Central Bank.

Eurozone finance ministers selected Vujčić at a Eurogroup meeting in Brussels on Monday. He secured the required qualified majority, winning support from at least 16 eurozone member states representing a minimum of 65 percent of the bloc’s population.

Vujčić prevailed over five other candidates, including nominees from Finland, Latvia, Estonia, Lithuania, and Portugal.

On June 1, he will succeed Spain’s Luis de Guindos, whose term as ECB vice-president expires at the end of May.