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MNI BRIEF: Buba Exec Board Resignation Prompts Reorganisation

(MNI) LONDON
(MNI) London

Joachim Wuermeling to leave before his 8-year term expires, with Nagel to head new Strategy department

BundesbankCentral Bank NewsPolicy NewsStoryEuropeEurozoneGermanyBriefEuropean Central BankRegion
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Bundesbank Executive Board member Joachim Wuermeling will leave the bank at the end of 2023, it was announced Friday, with a new Directorate General Strategy and Innovation to be created under Buba president Joachim Nagel.

Vice-president Claudia Buch will take over the Directorate General Banking and Financial Supervision, and succeed Wuermeling on both the ECB’s Supervisory Board and the Basel Committee on Banking Supervision from April 1. Wuermeling joined the central bank in 2016, and is leaving to take up a new position.

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Bundesbank Executive Board member Joachim Wuermeling will leave the bank at the end of 2023, it was announced Friday, with a new Directorate General Strategy and Innovation to be created under Buba president Joachim Nagel.

Vice-president Claudia Buch will take over the Directorate General Banking and Financial Supervision, and succeed Wuermeling on both the ECB’s Supervisory Board and the Basel Committee on Banking Supervision from April 1. Wuermeling joined the central bank in 2016, and is leaving to take up a new position.