MNI: Mahrer To Head Austrian National Bank General Council

By Luke Heighton

     LONDON (MNI) - Harald Mahrer, former Austrian finance minister and current

president of the economic council has been named as President of the National

Bank of Austria's (OeNB) General Council.

     Mahrer, a member of chancellor Sebastian Kurz's conservative Austrian

People's Party (OVP), will take up the role on Sep 1, alongside his

newly-appointed deputy, Barbara Kolm, an economic advisor to the right-wing

populist Freedom Party of Austria (FPO).

     They replace current president and People's Party pick Claus Raidl, along

with Social Democratic Party (SPO) nominee Max Kothbauer, whose 10-year terms of

office both expire at the end of August.

     The General Council supervises operations lying outside the remit of the

European System of Central Banks (ESCB), including the management and

administration of the Bank, whose sole shareholder is the Federal Government.

     --MONPOL ADVICE

     As president and chairman of the Council, Mahrer will also advise the

Governing Board of the OeNB on monetary policy.

     Stephan Koren and Christoph Traunig were also appointed to the general

council.

     In a statement OeNB Governor Ewald Nowotny congratulated the new appointees

on behalf of the board, adding that he looked forward to working with them.

     --NOWOTNY REPLACEMENT

     Notwotny will leave his position at the end of August 2019 when his mandate

expires, having been elevated to the role of governor by the SPO in 2008. 

     Among those rumoured to succeed him is former World Bank director Robert

Holzmann, who is said to be close to the FPO.

     Fall 2019 will also see Austria's President, Alexander Van der Bellen,

appoint four new members to the OeNB's Board of Directors, acting on the

recommendation of Austria's OVP-FPO coalition government. 

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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