Joachim Nagel | |
|---|---|
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| 10th President of the German Bundesbank | |
| Assumed office 1 January 2022 | |
| Appointed by | Frank-Walter Steinmeier |
| Preceded by | Jens Weidmann |
| Personal details | |
| Born | (1966-05-31)31 May 1966 (age 59) |
| Political party | Social Democratic Party of Germany[1] |
| Children | 2 |
| Alma mater | Karlsruhe Institute of Technology |
Joachim Nagel (born 31 May 1966) is a German economist who has been serving as President of theBundesbank since 2022.[2] Before he was a senior manager of theBank for International Settlements since 2020, having been a member of the board of the Deutsche Bundesbank from 2010 to 2016 and then a member of the board of theKfW Bankengruppe from 2017 to 2020. He was appointed President of the Deutsche Bundesbank on 1 January 2022, to replaceJens Weidmann.[3] He is a member of theSocial Democratic Party of Germany (SPD),[1] along with the President who appointed him to serve initially under SPD ChancellorOlaf Scholz.
After graduating from the Otto-Hahn-Gymnasium Karlsruhe, Nagel studied economics at theKarlsruhe Institute of Technology.[4]
After graduating in 1991, Nagel worked at the Karlsruhe Institute of Technology as a research assistant and later an advisor for economic and financial policy at theSocial Democratic Party (SPD) in Bonn from March to October 1994. Funded by the SEW-EURODRIVE-Stiftung, he also spent a year in Washington doing research.[5]
In 1999 Nagel moved to theBundesbank, initially as Head of the Office of the President of the then State Central Bank inBremen,Lower Saxony andSaxony-Anhalt inHanover. In 2003 he moved to the headquarters of the Bundesbank inFrankfurt am Main. In 2008 he became head of the central department Markets. In December 2010, he replacedThilo Sarrazin, who had resigned, on the board of directors of the Deutsche Bundesbank. On April 30, 2016, he resigned from the Executive Board of the Deutsche Bundesbank.
On November 1, 2016, Nagel joined theKFW Bankengruppe, the largest public development bank in Germany, as a general manager[6] and then from 2017 to 2020 as Executive Board member. At the same time he was chairman of the supervisory board of KfW IPEX-Bank and first deputy chairman of the supervisory board of DEG German investment and development company.[7]
On November 1, 2020, Nagel became a member of the management of theBank for International Settlements as Deputy Head of Banking.
On December 20, 2021, the German PresidentFrank-Walter Steinmeier announced Nagel's appointment as successor to Jens Weidmann as president of the Deutsche Bundesbank.[8][9] He assumed the position on 1 January 2022.
Nagel is married and has two children.[1]
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* indicates acting president | ||
Central bank governors of theGroup of Seven | |
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Central bank governors of theG20 | |
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