The Bundesbank’s Executive Board has endorsed a second term of office for Bundesbank Vice-President Claudia Buch. The Executive Board notified the Federal Government that it had no objections to the Federal Cabinet’s nomination.

Bundesbank President Joachim Nagel thanked Ms Buch for the excellent work during her first term of office. “I am very much looking forward to working with you over the next eight years,” said Mr Nagel.

Now that – in accordance with the Bundesbank Act – the Bundesbank’s Executive Board has been consulted, the Federal Government can present the proposal to the Federal President, who will then appoint Ms Buch to a second eight-year term as Bundesbank Vice-President. Alongside the President and the Vice-President, the Executive Board consists of Johannes Beermann, Joachim Wuermeling, Burkhard Balz and Sabine Mauderer.

Claudia Buch has been a member of the Bundesbank’s Executive Board since May 2014 and is responsible for Directorates General Financial Stability, Statistics and Audit. Amongst other roles, Ms Buch, an economist with a post-doctorate degree, previously held the post of Professor of Economics at the University of Tübingen. She was a member of the German Council of Economic Experts from 2012 and President of the Halle Institute for Economic Research (IWH) from 2013.