New head for Dutch central bank

20th May 2011, Comments 0 comments

The Dutch central bank DNB has a new president. The post will go to Klaas Knot, a senior civil servant at the Netherlands Ministry of Finance, who was nominated by the bank’s Supervisory Board.

Mr Knot is currently director of financial markets at the Finance Ministry and is one of the minister’s closest advisors. He is also a part-time professor at Groningen University and has previously held positions with DNB and the IMF.

The Dutch government approved his seven-year appointment at today’s cabinet meeting. Finance Minister Jan Kees de Jager praised Mr Knot for his monetary expertise and international experience.

The new DNB President will succeed Nout Wellink, who steps down on 1 July. Mr Wellink suffered serious criticism in recent years for not doing enough to safeguard the Dutch financial sector in the face of the global economic crisis.

His job is now being split into two positions: the president, who will take responsibility for monetary policy and changing the culture within the bank, and a director who will monitor the Dutch banking sector.

The latter post will be filled by Jan Sijbrand, who is currently head of risk management at NIBC.

© Radio Netherlands Worldwide

© Radio Netherlands Worldwide

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