The Hessian state government has finally decided on a candidate to fill the vacant position on the board of the Bundesbank after months of searching. According to Tagesspiegel, Fritzi Köhler-Geib is set to take up the role, which has been empty for some time now. Köhler-Geib currently serves as chief economist at Kreditanstalt für Wiederaufbau (KfW) in Frankfurt am Main.
Prime Minister Boris Rhein (CDU) had expressed a desire to nominate a politically independent woman for the position. This was in line with his belief that gender diversity and independence were crucial for ensuring that the Bundesbank maintained its credibility and integrity.
Formally, it is the Federal Council that has the right to nominate candidates for positions on the Bundesbank’s board. However, approval from the states is also required, and this was delayed due to changes in government in Hesse earlier this year from black-green to black-red. Now that Köhler-Geib has been chosen, she will bring experience in both economic and political sectors to her new role. Previously, she worked at the World Bank before moving on to KfW as chief economist.
Köhler-Geib’s work as chief economist at KfW allowed her to delve into economic research and analysis services, with a focus on analyzing economic developments and growth trends in Germany. With her nomination, the Bundesbank’s Executive Board is nearly fully staffed once again after dealing with vacancies in recent times. Her appointment fills one of two vacant positions on the board alongside board member Lutz Lienenkämper from North Rhine-Westphalia.
The federal government is now tasked with selecting a successor for Claudia Buch, who recently resigned from her position as vice president of the Bundesbank.
In conclusion, Fritzi Köhler-Geib’s nomination marks an important step forward for Germany’s central bank as it seeks to maintain its independence and credibility while also promoting diversity and inclusion within its ranks.
