ECB's Draghi Wins Governor Of The Year Award

European Central Bank President Mario Draghi has won the inaugural 'governor of the year' award, the Central Banking magazine said on its website on Monday.

Draghi was chosen the winner due to his "unflappable conviction and outstanding leadership of the ECB as playing a vital role in restoring confidence in the eurozone", the London-based journal said.

The judging panel also praised Draghi's "tireless efforts to drive consensus where possible".

"Thanks to both the ECB's actions and hard work by governments in implementing fiscal consolidation and structural reforms, conditions in financial markets have gradually eased since July 2012," Draghi said while accepting the award.

"It is still too early to declare victory and the recovery remains fragile, but we can see our very accommodative monetary policy stance finally finding its way through the economy."

The Central Banking journal was launched in 1990 and central bankers in more than 140 countries subscribe to the group's publications.

Former Federal Reserve Chairman Paul Volcker was the winner of the 'central banking lifetime achievement award'.

The People's Bank of China was awarded the prize for the 'central bank of the year'. The Chinese central bank was given the award in recognition of the critical role it has played in anchoring China's drive towards a more market-oriented economy during 2013, Central Banking said.

"It has done this despite the lack of sophisticated domestic money markets and the requirement that it must seek approval from the State Council before taking any significant actions," the magazine added.

The Central Bank of Colombia was chosen for the award for the reserves manager of the year, while the Swedish central bank, known as the Riksbank, was the winner in the transparency category.

The Bank of Spain won the award for the website of the year.

BlackRock was chosen the asset manager of the year, while Northern Trust was the global custodian of the year.

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