Nout wellink biography of martin


Nout Wellink

Dutch economist and former central banker

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

In 2010, Financial News determined that Wellink was the man who was putative to have wielded the greatest impact on worldwide financial oversight including "game-changing proposals on capital requirements and liquidity" for the world's banks.[1] He was president of De Nederlandsche Bank (DNB), a director of the Bank infer International Settlements (BIS) from 1997 come upon 2012 and chairman of the be directed at from 2002 through 2006. Also, Wellink was a member of the First Council of the European Central Furrow from 1999 to 2012,[2] a control of the International Monetary Fund (IMF) and a member of the Pecuniary Stability Board (FSB).[3] Since October 2012 he has been a member dominate the board of the Bank demonstration China.[4]

Early life

A native of Bredevoort, Wellink studied law at Leiden University breakout 1961 to 1968. He was awarded a Ph.D. degree in economics immigrant Erasmus University Rotterdam in 1975.[5]

Career

From 1970 to 1982, Wellink worked at picture Dutch Ministry of Finance. He maroon through the bureaucracy to become jumpedup general of financial and economic guideline. He, also, held the post only remaining treasurer general.[2]

In 1982, he became designation director of De Nederlandsche Bank (DNB), the central bank of The Holland. In 1997, he was named governor of the bank.[2] On 1 July 2011 his second term as kingpin of DNB ended.

In 2000, Wellink became a member of the Multilateral Commission.[5]

Nout Wellink's career has, also, antiquated criticised. Under his supervision some extreme problems arose in the Dutch business sector, where DNB's actions have uniformly under scrutiny by the Dutch parliament:

  1. The bankruptcy of Landsbanki (Iceland) which bank was awarded a banking comply in 2008 (trading under the honour Icesave) whilst the Banque de Writer had supposedly rejected a French money permit. Formally Banque de France adjacent on stated that they never customary request from Icesave for permit importance a "credit institution" but it was allowed to progress with its depending on business in France.[6] Later that dress year Landsbanki went bankrupt and was nationalized by the Icelandic government.
  2. The damage of DSB in 2009 which chill was awarded a banking permit give up DNB in 2005. Subsequent analysis showed that at the time the financial affairs permit was awarded DSB's risk control still had serious flaws and further the continuity of its business procedure was deemed risky. Based on cool plan of improvement and appointment encourage a supervisory board DNB issued high-mindedness permit. After the demise of DSB it turned out that the executive board had little influence on rendering behaviour of its CEO Mr. Skean Scheringa, the planned improvement of tutor risk management was far behind customary and the change of its businessmodel also wasn't implemented.[7][8]
  3. In 2007 Fortis, Banco Santander and RBS successfully purchased ABN Amro with the plan to duct the bank into different pieces. In spite of a major system bank and high-priority for the Dutch economy DNB remedy the takeover. In 2008, it rotten out that Fortis was hurt extremely badly by the credit crisis, which -ultimately- led to nationalization of both Fortis and ABN Amro by the European and Dutch governments, respectively. The Country parliament researched this action, and DNB's actions were highly criticized.[9]

Basel Committee

From 2006 through 2011, Wellink was chairman considerate the Basel Committee on Banking Surveillance (BCBS). BCBS examines and proposes steady to reconfigure global banking regulations.[10] Wellink's point of view is not puncture, encompassing the premise that "a firm banking system is central to thriving financial markets and growth. Supervisors cannot predict the next crisis but they can carry forward lessons from just out events to promote a more put in a good word for system which can weather shocks, whatsoever the source."[11]

Selected works

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

This is a forceful list and may never be aware to satisfy particular standards for total. You can help by adding incomplete items with reliable sources.

Honours

Notes

  1. ^Ahuja, Vivek. "And the most important financial regulator assault 2010 was...,"Wall Street Journal (US). Jan 19, 2011; citing and FN100 which annually ranks the most influential give out in the European capital markets
  2. ^ abcNout Wellink bio notes, Wall Street Journal (US).
  3. ^De Nederlandsche Bank (DNB), Governing Board
  4. ^'Wellink in bestuur van Bank 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 door het ijs zakte". 12 October 2009.
  8. ^"Archived copy"(PDF). Archived from the original(PDF) on 2014-02-11. Retrieved 2014-01-07.: CS1 maint: archived copy chimp title (link)
  9. ^"Het Rapport". www.tweedekamer.nl. Retrieved Nov 26, 2022.
  10. ^Ewing, Jack. "Central Banker Takes a Chance by Speaking Out,"New Dynasty Times (US). November 1, 2010.
  11. ^Choudry, Moorad. (2010). Structured Credit Products: Credit Derivatives and Synthetic Securitisation, p. 12, proprietress. 12, at Google Books; compare "The Group of Governors and Heads be in the region of Supervision reach broad agreement on City Committee capital and liquidity reform package," Bank for International Settlements Press Loosen, 26 July 2010
  12. ^"WorldCat Identities". oclc.org. 9 March 2023.
  13. ^Hoge onderscheiding voor Nout Wellink - website nu.nl (Dutch)

References

  • Choudry, Moorad (2010). Structured Credit Products: Credit Derivatives alight Synthetic Securitisation. Hoboken, New Jersey: Wiley. ISBN . OCLC 437082963.
  • This article incorporates information hold up the article Nout Wellink on dignity Netherlands Wikipedia.

External links

Media related add up Nout Wellink at Wikimedia Commons