By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde has told World Economic Forum trustees that she is "ready to serve" as the organization's next president, the Swiss weekly NZZ am Sonntag reported Sunday, citing informed sources.

Lagarde emerged as the favored internal candidate during a meeting of the WEF's 28-member Board of Trustees near Geneva last week, after Singapore President Tharman Shanmugaratnam raised the succession issue even though it was not formally on the agenda, the newspaper said.

Shanmugaratnam, who NZZ said appeared to have the backing of numerous trustees, argued that the succession to WEF co-chairs Larry Fink and André Hoffmann should be resolved from within the board because suitable candidates were already available.

He made clear that he had Lagarde in mind, according to the report, with the ECB president repeatedly referred to during the meeting as the "putative candidate."

Lagarde appeared unsurprised by the proposal, NZZ said. She thanked trustees for their confidence and told them she was "ready to serve," according to people present at the meeting and others with direct links to board members cited by the newspaper.

The ECB declined to comment to NZZ on Lagarde's reported remarks.

No decision was taken on when Lagarde might assume the WEF presidency, according to the report. Trustees agreed only that Fink, the chairman and CEO of BlackRock, and Hoffmann, vice chairman of Roche, should remain in place through the WEF's annual meeting in Davos in January 2027 before relinquishing their roles later in the year.

Lagarde could nevertheless be selected as soon as this autumn, NZZ said, with the WEF expected to conduct at least a formal internal search process in the meantime.

A move before the end of October 2027 would require Lagarde to leave the ECB before the scheduled expiration of her eight-year term.

Former Swiss National Bank President Philipp Hildebrand, now vice chairman of BlackRock, is playing a central role in the selection process, according to NZZ. Hildebrand, Shanmugaratnam and Bain & Company Chair Orit Gadiesh have been tasked with speaking individually to all trustees to determine whether there is opposition to Lagarde's appointment.

The newspaper said Lagarde's qualifications for the position were broadly uncontested, but that some trustees had reservations about both her candidacy and the process. Lagarde has served on the WEF board for more than 18 years despite internal rules that NZZ said normally limit membership to 12 years.

Fink and Hoffmann had favored an open search involving both internal and external candidates and had already worked with an external headhunter to assemble a list, according to the report.

Several trustees, including Accenture CEO Julie Sweet, Axa CEO Thomas Buberl, U.S. businessman David Rubenstein and Saudi businesswoman Lubna S. Olayan, argued at last week's meeting that an organization such as the WEF required an orderly succession process, NZZ said, but failed to win support for that position.

Lagarde has long been favored for the position by WEF founder Klaus Schwab, who last year disclosed that he had discussed with her the possibility of leaving the ECB early. An ECB spokesperson responded at the time that Lagarde "has always been fully committed to deliver on her mission and is determined to complete her term."

Lagarde herself subsequently said in June 2025 that she was "fully determined to deliver on my mission and I'm determined to complete my term," adding: "I regret to tell you that you're not about to see the back of me."