He served as the General Manager of the Bank for International Settlements from 1 April 2009 to 30 November 2017.

[1] Caruana was born in Valencia, and graduated in telecommunications engineering from the Technical University of Madrid (UPM) in 1974.

Caruana took over the Basel II project at a difficult time, and won respect and praise from both regulators and the financial services industry for ultimately delivering the revised accord in June 2004.

[2] In August 2006, Jaime Caruana was appointed to the International Monetary Fund (IMF) by Rodrigo de Rato, as counsellor and director of the Monetary and Capital Markets Department, a new financial, capital and regulatory department.

[3] He was succeeded at the Bank of Spain by former secretary of State for Commerce, Miguel Ángel Fernández Ordóñez.