The European Central Bank decided on Tuesday to hand Belgian Peter Praet its Executive Board economics portfolio, the ECB said, confirming an earlier Reuters story based on sources familiar with the matter.

Frenchman Benoit Coeure will take over market operations as of March 1 from Jose Manuel Gonzalez-Paramo, who will keep overseeing ECB research.

ECB President Mario Draghi and Vice-President Vitor Constancio will keep their old duties, the ECB said in a statement.

(Reporting by Sakari Suoninen and March Jones)