ESM APPOINTS PILAR CASTRILLO AS HEAD OF ECONOMIC AND MARKET ANALYSIS
26 February 2024
ESM Press Release no. 3/2024
(Luxembourg) - The European Stability Mechanism (ESM) has appointed Pilar Castrillo to the position of Head of the Economic and Market Analysis division, part of the Chief Economist department.
Ms Castrillo had been serving as Deputy Head of the division since September 2019 and Acting Head since May 2023. Her division monitors and assess risks in the euro area economy and financial markets, and coordinates related economic and policy research. During this period, she has been instrumental in substantively developing the division's capacity.
"I am glad about Pilar’s promotion to Head of the Economic and Market Analysis Division. She is a highly skilled economist who has demonstrated her excellent capabilities and expertise, leading the division, first as deputy and then as acting head. The team plays a pivotal role in ESM operations by analysing the macroeconomic environment and financial markets, and I am happy that Pilar will continue to guide its activities”, said ESM Managing Director Pierre Gramegna.
Prior to joining the ESM in 2019, Pilar Castrillo worked at Telefonica S.A. as macroeconomist and manager, covering different euro area and Latin American economies and financial markets. She also worked at NERA Economic Consulting.
Ms Castrillo holds two Bachelor’s degrees (in Economics and Law) from Carlos III University in Madrid, and a Master’s degree in Economics and Finance from the Centre of Monetary and Financial Studies (CEMFI) in Madrid.
Pilar Castrillo, Head of Economic and Market Analysis
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About the ESM
<p>The European Stability Mechanism (ESM) has the mandate to preserve financial stability in the euro area by providing financial assistance to Member States with severe financing problems. It is a permanent inter-governmental institution, operating since October 2012. The shareholders of the ESM are the 20 euro area Member States. All financial assistance to Member States is linked to appropriate conditionality. The ESM finances its assistance by issuing bonds and other debt instruments. It has a total subscribed capital of approximately €700 billion, which comprises €80 billion in paid-in capital and €624 billion in committed callable capital. The ESM’s maximum lending capacity is €500 billion.</p>
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