Diego Labat
Diego Labat | |
|---|---|
| Born | December 19, 1969 Uruguay |
| Occupation(s) | Economist, Certified Accountant |
| Years active | 1993–present |
| Known for | 23rd president of the Central Bank of Uruguay (2020–2024) |
Diego Labat Legarra (born December 19, 1969) is an Uruguayan economist and certified accountant who held the position of the 23rd president of the Central Bank of Uruguay from 2020 until 2024.
Labat obtained his degrees in economics in 1993 and accounting in 1996 from the University of the Republic. He gained experience working at multiple financial institutions and served as a university lecturer. As a member of the National Party, he represented the party on the board of the National Administration of Fuels, Alcohols and Portland between 2015 and 2020. Closely aligned with President Luis Lacalle Pou, Labat was part of his economic advisory team during the presidential campaign and was appointed head of the Central Bank following Lacalle Pou's victory.
On January 3, 2023, the British magazine The Banker honored Labat with the Banker of the Year award for the Americas region.
Early life and education
Born on December 19, 1969, Labat completed his primary education at Primary School No. 23 in Los Cerrillos, Canelones Department, and attended Liceo No. 28 in Montevideo for secondary school. He graduated as an economist from the University of the Republic in 1993 and earned an accounting degree three years later, in 1996. Subsequently, he completed a master's program specializing in international economics in 2005.
Furthering his professional development, Labat undertook a Corporate Development Program (CDP) at IESE Business School, University of Navarra, in 2011, followed by a Senior Management Program (PAD) at Montevideo’s Institute of Business Studies in 2014.
Career
Labat’s professional journey began in 1993 at ABN AMRO Uruguay where he worked as an accountant and auditor. He was promoted to General Accountant in 2001 and remained until 2008 when he transitioned to Banco Santander Uruguay as General Accountant. By 2012, he had advanced to Chief Financial Officer, a role he fulfilled until 2015.
Alongside his corporate responsibilities, Labat taught at several universities: University of the Republic’s Faculty of Economic Sciences (1996–2013), University of Montevideo (1998–2004; 2008–2011), and starting in 2006 at the Catholic University of Uruguay.
In 2015, Labat ventured into politics by joining the board of ANCAP as a National Party representative, serving until 2020.
President of the Central Bank
In 2019, Labat became part of Luis Lacalle Pou’s economic advisory team during his presidential campaign. On March 4, 2020, Lacalle Pou appointed him interim president of the Central Bank of Uruguay, subject to Senate confirmation, which was granted on March 17. Labat officially took office as president on March 20, 2020.
He stepped down on July 25, 2024, to join National Party candidate Álvaro Delgado Ceretta’s economic team. Economist Washington Ribeiro succeeded him as head of the Central Bank.