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Bundesbank: BIS manager Nagel could become Weidmann’s successor

Nagel worked for the Bundesbank for 17 years - six of them on the board.  Source: Reuters
Joachim Nagel (archive image)

Nagel worked for the Bundesbank for 17 years – six of them on the board.


(Photo: Reuters)

Berlin According to a newspaper report, the economist Joachim Nagel has the best chance of inheriting Jens Weidmann at the head of the Bundesbank. As the “Financial Times” (FT) reported on Thursday, citing a person who is directly familiar with the process, the 55-year-old is the “preferred candidate”.

On the other hand, ECB director Isabel Schnabel and finance state secretary Jörg Kukies are no longer in the running, the newspaper reported, citing several people who are familiar with the discussions. A spokesman for Chancellor-designate Olaf Scholz (SPD) declined to comment on the report.

Nagel worked for the Bundesbank for 17 years – six of them on the board. In 2017 he moved to the Kreditanstalt für Wiederaufbau (KfW) and then in 2020 to the Bank for International Settlements (BIZ), where he is Deputy Head of Banking.

More: Exchange manager Alexandra Hachmeister joins the Bundesbank

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    Reference-www.handelsblatt.com

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