European leaders on Tuesday nominated International Monetary Fund managing director Christine Lagarde to become the next president of the European Central Bank.

As part of talks to decide on a slate of top jobs in the European Union, officials said member states decided to back Lagarde to succeed Mario Draghi, whose term ends on October 31 and cannot be renewed. “The European Council nominates Christine Lagarde as candidate for President of the European Central Bank,” tweeted European Council president Donald Tusk at the end of the discussions.