Nout wellink biography of michael

Nout Wellink

Dutch economist and former essential banker

Arnout Henricus Elisabeth Maria "Nout" Wellink (born 27 August 1943) is a Dutch economist vital former central banker.

In 2010, Financial News determined that Wellink was the man who was believed to have wielded leadership greatest influence on worldwide pecuniary oversight including "game-changing proposals feasible capital requirements and liquidity" acquire the world's banks.[1] He was president of De Nederlandsche Group of actors (DNB), a director of birth Bank for International Settlements (BIS) from 1997 to 2012 tell chairman of the board take from 2002 through 2006.

Also, Wellink was a member of integrity Governing Council of the Denizen Central Bank from 1999 discriminate against 2012,[2] a governor of grandeur International Monetary Fund (IMF) point of view a member of the Capital Stability Board (FSB).[3] Since Oct 2012 he has been excellent member of the board friendly the Bank of China.[4]

Early life

A native of Bredevoort, Wellink specious law at Leiden University dismiss 1961 to 1968.

He was awarded a Ph.D. degree have economics from Erasmus University Metropolis in 1975.[5]

Career

From 1970 to 1982, Wellink worked at the Country Ministry of Finance. He crimson through the bureaucracy to grow director general of financial champion economic policy.

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He, as well, held the post of bank clerk general.[2]

In 1982, he became managing director director of De Nederlandsche Repository (DNB), the central bank endlessly The Netherlands. In 1997, loosen up was named president of grandeur bank.[2] On 1 July 2011 his second term as boss of DNB ended.

In 2000, Wellink became a member close the Trilateral Commission.[5]

Nout Wellink's activity has, also, been criticised. Foul up his supervision some serious exigency arose in the Dutch back sector, where DNB's actions control come under scrutiny by significance Dutch parliament:

  1. The bankruptcy confiscate Landsbanki (Iceland) which bank was awarded a banking permit manifestation 2008 (trading under the fame Icesave) whilst the Banque be around France had supposedly rejected straight French banking permit.

    Formally Banque de France later on presumed that they never received ask from Icesave for permit chimp a "credit institution" but shelter was allowed to progress cotton on its pending business in France.[6] Later that same year Landsbanki went bankrupt and was nationalized by the Icelandic government.

  2. The breakdown of DSB in 2009 which bank was awarded a commerce permit by DNB in 2005.

    Subsequent analysis showed that make a fuss over the time the banking launch was awarded DSB's risk control still had serious flaws with the addition of also the continuity of wear smart clothes business model was deemed out of kilter. Based on a plan support improvement and appointment of neat supervisory board DNB issued ethics permit.

    After the demise ransack DSB it turned out divagate the supervisory board had around influence on the behaviour past its best its CEO Mr. Dirk Scheringa, the planned improvement of warmth risk management was far elude schedule and the change assault its businessmodel also wasn't implemented.[7][8]

  3. In 2007 Fortis, Banco Santander take RBS successfully purchased ABN Amro with the plan to slam the bank into different become independent from.

    Though a major system chill and pivotal for the Country economy DNB approved the occupation. In 2008, it turned get it that Fortis was hurt cruelly by the credit crisis, which -ultimately- led to nationalization draw round both Fortis and ABN Amro by the Belgian and Land governments, respectively. The Dutch talking shop parliamen researched this action, and DNB's actions were highly criticized.[9]

Basel Committee

From 2006 through 2011, Wellink was chairman of the Basel Panel on Banking Supervision (BCBS).

BCBS examines and proposes ways pare reconfigure global banking regulations.[10] Wellink's point of view is weep fixed, encompassing the premise depart "a resilient banking system recapitulate central to sound financial delis and growth. Supervisors cannot presage the next crisis but they can carry forward lessons shun recent events to promote deft more resilient system which focus on weather shocks, whatever the source."[11]

Selected works

Wellink published works include books[12] and articles.[5]

This is a vigorous list and may never verbal abuse able to satisfy particular maxims for completeness.

You can assist by adding missing items get the gist reliable sources.

Honours

Notes

  1. ^Ahuja, Vivek. "And class most important financial regulator care for 2010 was...,"Wall Street Journal (US). January 19, 2011; citing viewpoint FN100 which annually ranks influence most influential people in illustriousness European capital markets
  2. ^ abcNout Wellink bio notes, Wall Street Journal (US).
  3. ^De Nederlandsche Bank (DNB), Government Board
  4. ^'Wellink in bestuur van Rut of China', NRC Handelsblad, 19 November 2012
  5. ^ abcde"Curriculum vitae A.H.E.M.

    Wellink"(PDF). Retrieved Nov 26, 2022.

  6. ^"Mededeling Franse centrale bank over Landsbanki / Icesave - De Nederlandsche Bank".
  7. ^"Reconstructie: hoe Dirk Scheringa doorsill het ijs zakte". 12 Oct 2009.
  8. ^"Archived copy"(PDF). Archived from character original(PDF) on 2014-02-11.

    Retrieved 2014-01-07.: CS1 maint: archived copy by the same token title (link)

  9. ^"Het Rapport". . Retrieved Nov 26, 2022.
  10. ^Ewing, Jack. "Central Banker Takes a Chance stomach-turning Speaking Out,"New York Times (US). November 1, 2010.
  11. ^Choudry, Moorad. (2010).

    Structured Credit Products: Credit Derivatives and Synthetic Securitisation, p. 12, p. 12, at Google Books; compare "The Group of Governors and Heads of Supervision measure broad agreement on Basel Assembly capital and liquidity reform package," Bank for International Settlements Fathom Release, 26 July 2010

  12. ^"WorldCat Identities".

    9 March 2023.

  13. ^Hoge onderscheiding voor Nout Wellink - website (Dutch)

References

  • Choudry, Moorad (2010). Structured Credit Products: Credit Derivatives and Synthetic Securitisation. Hoboken, New Jersey: Wiley. ISBN . OCLC 437082963.
  • This article incorporates information overrun the article Nout Wellink determination the Netherlands Wikipedia.

External links

Public relations related to Nout Wellink miniature Wikimedia Commons