ECB picks new top adviser for Lagarde

FRANKFURT (Reuters) -The European Central Bank said on Friday it had picked Isabel Vansteenkiste as President Christine Lagarde's new top adviser, replacing Roland Straub who would take up a new role at the ECB.

Vansteenkiste, currently director general for the ECB's international and European relations, rose to prominence during the debt crisis of 2010-12, when she represented the central bank in the so called troika of institutions that bailed out Portugal, among other countries.

The Belgian economist would now become Lagarde's principal counsellor and the coordinator of the counsel to the ECB's Executive Board, a role that Straub had occupied since 2017.

The German economist was now set to become the deputy director general of the ECB's market operations. Both appointments would become effective on 15 September, the ECB said.

(Reporting By Francesco Canepa)