Frank Elderson
Frank Elderson | |
|---|---|
| Born | May 18, 1970 Utrecht, Netherlands |
| Occupation | Legal expert |
| Years active | 1995–present |
| Known for | Member of the Executive Board of the European Central Bank, Chair of the Network for Greening the Financial System |
Frank Elderson (born 18 May 1970 in Utrecht) is a Dutch legal expert who has been a member of the Executive Board of the European Central Bank since 2020.
Prior to his current role at the ECB, Elderson served as the executive director responsible for supervision at De Nederlandsche Bank starting in July 2011, where he also held an ex-officio member position on the ECB Supervisory Board. He was instrumental in founding the Network for Greening the Financial System (NGFS), over which he now presides as chair.
Education and career
Elderson began his legal education in Dutch law with distinction during his first year in 1990 and spent the academic year 1993–1994 studying at the University of Zaragoza in Spain. He obtained his law degree from the University of Amsterdam in 1994.
In 1995, he completed an LLM at Columbia Law School and gained admission to the Dutch bar, subsequently launching his legal profession at Houthoff Advocaten & Notarissen.
Career at De Nederlandsche Bank (1999–2020)
Frank Elderson joined the Dutch National Bank (DNB) in 1999, taking on several leadership positions within the Legal Services Division and representing DNB in various European System of Central Banks (ESCB) working groups. In 2011, he was appointed Executive Director of Supervision, overseeing banking supervision, horizontal functions, integrity oversight, and legal matters. Additionally, he contributed as a member of the European Central Bank’s Supervisory Board.
Tenure at the European Central Bank (2020–present)
In October 2020, Elderson was nominated by Dutch finance minister Wopke Hoekstra to replace Yves Mersch on the ECB’s executive board. His candidacy competed with Slovenian nominee Boštjan Jazbec and was endorsed by the Eurogroup despite some Members of the European Parliament voicing concerns regarding gender representation within the ECB’s governing body. The European Parliament’s ECON Committee and plenary approved his appointment with 319 votes for, 202 against, and 171 abstentions. This was followed by ratification from the European Council.
By December 2020, Elderson officially joined the ECB Executive Board and was named Vice-chair of the ECB Supervisory Board in February 2021.
Climate finance
Frank Elderson has been a prominent advocate for central banks’ involvement in combating climate change. In November 2024, Time magazine recognized him as one of the globe’s most impactful climate leaders.
His commitment to sustainable finance began while serving as director for financial stability at De Nederlandsche Bank. In 2016, he initiated and chaired the Sustainable Finance Platform—a collaborative forum hosted by the Dutch central bank that brings together central bankers, government representatives, and civil society actors.
In 2017, Elderson became the inaugural chairperson of the Network for Greening the Financial System (NGFS), established by eight central banks and financial regulators during the “One Planet Summit.” The NGFS seeks to bolster global efforts aligned with Paris Agreement objectives by enhancing how financial systems manage risks and channel investments toward green and low-carbon projects. It supports best practice dissemination and undertakes research related to sustainable finance.
Since its inception, NGFS has grown to include 89 members, featuring institutions such as the IMF and Bank for International Settlements as observers, along with participation from the US Federal Reserve. Elderson received reappointment as chair for another two-year term in September 2020.
Personal life
Elderson is married and has two daughters.