Frank Elderson may join ECB board

ecb

DNB director Frank Elderson may join the Executive Board of the European Central Bank (ECB). The European Parliament agreed to it on Tuesday. For the first time since Wim Duisenberg resigned as the first president of the ECB in 2003, another Dutchman enters the executive board.

319 members agreed to the appointment, 202 voted against and 171 abstained.

Parliament’s Committee on economic and monetary affairs had already issued a positive vote opinion after a hearing with Elderson earlier this month. That was a surprise, because Parliament has been calling for more women in top positions at the central bank for years.

Parliament’s opinion is not binding, but a rejection would have been a blemish. Parliament can intervene in the portfolio Elderson gets. His duties will be discussed at the beginning of January.

Elderson is listed as a champion of the sustainability of the financial sector in the Netherlands. Among other things, he co-founded a platform that focuses on sustainable solutions. Elderson will be appointed as a member of the executive board for a period of eight years from 15 December.

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