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12/2/2021, 8:12 PM (Source: TeleTrader)
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Joachim Nagel top contender to head Bundesbank - report

Incoming German Chancellor Olaf Scholz is looking at Joachim Nagel, a top executive for the Bank for International Settlements, to take over from Jens Weidmann as the President of the Bundesbank.

According to a Financial Times report published on Thursday, Nagel would be the first major appointment of the new coalition government. He spent 17 years at the central bank, with the majority of them spent supervising capital markets, before joining BIS as the deputy head.

Nagel's competition for the role have reportedly been Isabel Schnabel, European Central Bank executive board member, and Joerg Kukies, a state secretary in the finance ministry.

Baha Breaking the News (BBN) / OL