Ralf Grossmann, head of covered bond origination at Société Générale, has been appointed deputy chairman of the European Covered Bond Council, putting him next in line to be chairman of the industry body, it was announced at an ECBC plenary in Barcelona today (Wednesday).

Niek Allon stepped up from his role as deputy to become ECBC chairman in April after previous chairman Waleed El-Amir left the industry. Allon had been due to serve as chairman in the 2018-2019 term, starting next January.

Grossmann has now been named as incoming deputy for the 2018-2019 term. Under ECBC conventions the incoming deputy is next in line to take over as ECBC chairman after a two year term.

Grossmann is the first industry representative from the investment banking rather than issuer side of the market to take on a role as either deputy or chairman, although the SG group also issues covered bonds. He twice previously served on the ECBC’s steering committee, from 2004 to 2008 and then from 2015 to 2016. He also chaired the technical issues working group from October 2005 to June 2016.

At the plenary today, Allon welcomed the appointment of the “veteran” and thanked him for his work to date.

Grossmann joined SG after in 2007 leaving Natixis, where he had been covered bond analyst.

We will bring you more from the plenary proceedings in the coming days.

Photo: Grossmann, EMF-ECBC secretary general Luca Bertalot, and Allon, in Barcelona today. Click to enlarge.