Frankfurt (Reuters) – Bundesbank board member Joachim Wuermeling will leave the German central bank at the end of the year, a few months before his term of office expires.
Wuermeling, who has been on the Bundesbank board of directors since November 2016, wants to take up a new position in 2024, the Bundesbank announced on Friday in Frankfurt. Wuermeling was previously responsible for the important department of banking supervision.
Bundesbank Vice President Claudia Buch is to take over responsibility for banking supervision on April 1. She takes over from Wuermeling the seat on the supervisory body of the European Central Bank (ECB) and the seat on the Basel Committee for Banking Supervision. Wuermeling is to take over the statistics department from Buch until he leaves the Bundesbank. The newly created central department for strategy and innovation will be in the hands of the president in the future.
Meanwhile, the Berlin business school ESMT announced on Friday that Wuermeling would strengthen its teaching and research team at the end of the year. One of his main topics will be the digitalization be in finance. “Joachim Wuermeling has played a key role in shaping banking supervision in Germany and at European level in recent years,” explained Bundesbank President Joachim Nagel. “I thank him very much for that.” The Bundesbank is now redesigning the allocation of departments in its management body.
The Bundesbank Executive Board currently has five members. The sixth board post has been vacant for some time after the departure of Bundesbank board member Johannes Beermann. The black-green Hessian state government, which has the right to propose personnel, has not yet been able to agree on a candidate.
(Report by Frank Siebelt, edited by Jörn Poltz. If you have any questions, please contact our editorial team at [email protected] (for politics and the economy) or [email protected] (for companies and markets).)