German government names Nagel as new Bundesbank governor
Social Democratic party member is longstanding central banker and voiced scepticism over QE
Germany’s chancellor and finance minister have named former Deutsche Bundesbank official Joachim Nagel to be the central bank’s next head.
Nagel served at the Bundebank for 17 years from 1999 where he became the first official to receive an internal promotion to serve on its executive board. He left the Bundesbank in 2016 for a role with the German state-run development bank KfW.
In November 2020, he joined the Bank for International Settlements as the deputy head of its banking department
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