Sabine Mauderer and Burkhard Balz took up their duties as members of the Executive Board of the Deutsche Bundesbank on 1 September 2018. Ms Mauderer and Mr Balz, both lawyers by training, are succeeding Carl-Ludwig Thiele and Andreas Dombret, who left the Executive Board at the end of April 2018 after eight years in office.

Sabine Mauderer, who has a doctorate in law, spent the last 12 years at the government development bank KfW in Frankfurt am Main, since February 2017 as a director in the Supervisory Board and Management Board Office. Before joining KfW, she worked, amongst other things, as a personal assistant to Barbara Hendricks, then Parliamentary State Secretary at the Federal Ministry of Finance (2005-06). Before that she acted as a financial expert at the German Embassy in Washington D.C. (2004-05) and at the Federal Ministry of Finance (2003-04).

Before he joined the Bundesbank, Burkhard Balz was a Member of the European Parliament for the European People’s Party (EPP) and most recently coordinated a report on the proposals to amend the European System of Financial Supervision in his capacity as fiscal policy spokesman for the Committee on Economic and Monetary Affairs (ECON). Up until 2009, he held various positions at Commerzbank, including heading the department for institutional clients and acting as desk officer at the Commerzbank AG Liaison Office to the European Union in Brussels.

New allocation of responsibilities

Now that Ms. Mauderer and Mr. Balz have joined the Bundesbank’s Executive Board, it again has a full complement of six members. At its first meeting, the Executive Board decided, amongst other things, on the following distribution of responsibilities. Ms Mauderer will oversee the Directorates General Markets and Human Resources while Mr. Balz will take on Economic Education, University and Centre for International Central Bank Dialogue as well as Payments and Settlement Systems.

As before, Bundesbank President Jens Weidmann will be responsible for Communications, Legal Services and Economics as well as for the Research Centre. Vice-President Claudia Buch will continue to head the Directorates General Financial Stability, Internal Audit, and Statistics. Besides taking charge of Cash Management as well as Controlling and Procurement, Johannes Beermann will also be responsible for Directorate General Administration and Premises and for Centralised Construction Management/Project Campus, which has been split off from the former. Joachim Wuermeling will remain at the helm of Directorate General Banking and Financial Supervision, which he previously headed on a provisional basis, as well as of Information Technology. He will also be responsible for Risk Control in future.