Nagel worked for the Bundesbank for 17 years – six of them on the board.
(Photo: Reuters)
Berlin The economist Joachim Nagel replaces Jens Weidmann at the head of the Bundesbank. Federal Chancellor Olaf Scholz (SPD) proposed the 55-year-old for this post, the Handelsblatt learned from government circles.
Scholz has the right to propose, but changes should be made in agreement with Federal Finance Minister Christian Lindner (FDP). As already known, Nagel is considered a “stability-oriented social democrat” in the FDP. The approval is therefore considered certain.
Nagel worked for the Bundesbank for 17 years – six of them on the board. In 2017 he moved to the Kreditanstalt für Wiederaufbau (KfW) and then in 2020 to the Bank for International Settlements (BIZ), where he is Deputy Head of Banking.
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