Christine Lagarde has discussed leaving the European Central Bank early to take over running the World Economic Forum according to its founder Klaus Schwab.

Schwab told the Financial Times he had met with the ECB president to arrange her taking over from him as chief executive in early 2027. Lagarde’s term with the ECB runs until the end of October of that year. The WEF runs the annual Davos extravaganza high up in the Swiss Alps, welcoming world leaders, financial titans and captains of industry.

Schwab, who left the WEF last month amid accusations of financial improprieties which he denies, said he had made arrangements for Lagarde to take an apartment in the Villa Mundi in Geneva, where the WEF has its administrative offices.

The most recent discussions they had on the subject, he added, were in early April in Frankfurt, “to discuss with her the leadership transition [at WEF] with myself remaining chair until she was ready to take over, at the latest, early 2027.”

He added that he had planned for “several years” for Lagarde to succeed him.

An ECB spokesperson contradicted Schwab, saying that “President Lagarde has always been fully committed to deliver on her mission and is determined to complete her term.”

Lagarde is a regular at the Davos meetings in January. She joined the WEF’s board of trustees in 2019 while still managing director of the International Monetary Fund.

In a statement, the WEF said: “The WEF is not in any position to comment on possible confidential discussions that may have taken place between our former chairman and Madame Lagarde. Regarding Villa Mundi, this is new information to us. The venue is now being used by our staff and constituents as part of the Forum’s ongoing work.”