Draghi's top aide to head ECB's economics department

FRANKFURT (Reuters) - The European Central Bank appointed Frank Smets, a top aide to President Mario Draghi, as the head of the bank's economics department, replacing Wolfgang Schill, who is retiring at the end of the month, the ECB said on Thursday.

Smets, an 18-year veteran of the ECB, earlier headed the bank's research division.

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)