New Bundesbank president officially in office

Federal President Frank-Walter Steinmeier has presented the new Bundesbank President Joachim Nagel with his certificate of appointment at Bellevue Palace in Berlin.

Neuer Bundesbank-Präsident offiziell im Amt
dpa

Berlin (dpa) - New Bundesbank President Joachim Nagel is now officially in office. Federal President Frank-Walter Steinmeier presented the 55-year-old with his certificate of appointment at Bellevue Palace in Berlin on Friday. At the turn of the year the economist had already succeeded Jens Weidmann, who for personal reasons had resigned from office after a good ten years on 31 December.

Nagel studied economics at the University of Karlsruhe, the city of his birth, where he also earned his doctorate. He had already been a member of the Frankfurt-based Bundesbank’s Executive Board from 2010 to 2016, then moved to the development bank KfW and most recently worked at the Bank for International Settlements (BIS). Nagel is a member of the SPD. Federal Chancellor Olaf Scholz (SPD) and Finance Minister Christian Lindner (FDP) had proposed him.

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