Torsti “Toto” Silvonen is the Deputy Director General of the Directorate General Market Operations at the ECB. His responsibilities include the ECB’s activities in the areas of FX markets, foreign reserve management, the ECB’s own funds and pension fund investments, as well as the planning, coordination and implementation of the ECB’s asset purchase programmes. He also oversees IT systems and financial services activities in the market operations area. He has been at the ECB from its establishment and also spent two years acting as an Advisor to the Central Bank of Bahrain. He started his central banking career at Suomen Pankki – Finlands Bank and has an M.Sc. from the Helsinki School of Economics.