German central bank head Weber headed to Chicago

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German central bank chief Axel Weber said Tuesday that he will accept a position as guest professor at the University of Chicago after stepping down at the end of April.

Weber, who turned 54 on Tuesday, said he would start in Chicago in June for a one-year stint, and then come back to Germany to teach again at the University of Cologne.

Weber had been tipped as a leading candidate to take over as head of the European Central Bank when president Jean-Claude Trichet steps down in late October, before deciding to resign as head of the Bundesbank.

That decision left Chancellor Angela Merkel in a bind as she did not have another clear candidate to put forward for the ECB post.

Press reports have also said Weber might take over as head of the biggest private German bank, Deutsche Bank, when Josef Ackermann leaves, at the latest in 2013.

© 2011 AFP

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