Home » Economy » François Villeroy de Galhau, Governor of the Banque de France, elected at the head of the BIS

François Villeroy de Galhau, Governor of the Banque de France, elected at the head of the BIS

His term as President of the Bank for International Settlements will last three years.

The governor of the Banque de France, François Villeroy de Galhau, has been entrusted with the presidency of the Bank for International Settlements (BIS), announced Thursday this institution considered as the central bank of central banks. Elected Wednesday at the head of the BIS, François Villeroy de Galhau saw his mandate officially begin on January 12 for a period of three years, indicates the BIS in a press release, to succeed Jens Weidmann, the former president of the bank German central.

«The members of the board of directors expressed their sincere gratitude to Jens Weidmann for the excellence of his work with the Bank during his presidency.“, Indicates the BIS in a press release. A figure of monetary orthodoxy, the German Jens Weidmann announced at the end of October his intention to leave his post before the end of his mandate at the head of the Federal Bank of Germany, saying that it was “good time” to open “a new chapterFor the Bundesbank but also for him personally.

Regularly outnumbered lately on his intransigent line, Jens Weidmann completed his mandate at the head of the German central bank on December 31, shortening in turn with this resignation his mandate at the head of the BIS. In November 2015, Jens Weidmann succeeded Frenchman Christian Noyer, former governor of the Banque de France, to chair this institution based in Basel, Switzerland. Last year, he was re-elected for a new three-year term that should have run until November 2024.

Originally from Strasbourg, François Villeroy de Galhau, 62, has been at the head of the Banque de France since 2015 after having notably managed the consumer credit group Cetelem, then the retail banking activities of banking giant BNP Paribas. A former financial inspector, he held various responsibilities at the Treasury Department, then in Brussels as financial advisor to the permanent representation of France before becoming chief of staff to the Minister of the Economy, Finance and Industry of 1997 to 2000 then directed by Dominique Strauss-Kahn, then Christian Sautter.


SEE ALSO – Omicron could cause a “hard landing“For global growth, according to the World Bank

.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.