Joachim Nagel
Joachim Nagel | |
|---|---|
| Born | May 31, 1966 Germany |
| Occupation | Economist |
| Years active | 1991–present |
| Known for | President of the Bundesbank (since 2022) |
Joachim Nagel (born 31 May 1966) is a German economist who has held the position of President of the Bundesbank since 2022. Prior to this role, he served as Deputy Head of Banking at the Bank for International Settlements (BIS) starting in 2020. His previous experience includes membership on the Deutsche Bundesbank’s Executive Board from 2010 until 2016 and a tenure on the executive board of KfW Bankengruppe from 2017 to 2020. Nagel took over as Bundesbank President on 1 January 2022, following Jens Weidmann. Politically, he is associated with the Social Democratic Party of Germany (SPD) and operates under the leadership of SPD Chancellor Olaf Scholz.
Early life and education
Nagel completed his secondary education at Otto-Hahn-Gymnasium Karlsruhe before pursuing economics studies at the Karlsruhe Institute of Technology.
Career
Following his graduation in 1991, Nagel began his career as a research assistant at the Karlsruhe Institute of Technology. In 1994, he briefly provided economic and financial policy advice to the SPD. Additionally, he undertook research activities in Washington, supported by the SEW-EURODRIVE-Stiftung.
Nagel joined the Bundesbank in 1999, initially leading the Office of the President responsible for regional central banks across Bremen, Lower Saxony, and Saxony-Anhalt. He transferred to the Bundesbank’s Frankfurt headquarters in 2003 and was appointed head of the Markets department in 2008. In December 2010, he became a member of the Deutsche Bundesbank’s Executive Board, succeeding Thilo Sarrazin, a position he held until April 2016.
Subsequently, Nagel assumed the role of general manager at KfW Bankengruppe in November 2016 and was an Executive Board member from 2017 through 2020. During this period, he chaired KfW IPEX-Bank’s supervisory board and served as deputy chairman on the supervisory board of DEG, a German investment and development firm.
In November 2020, Nagel joined BIS leadership as Deputy Head of Banking before being named Bundesbank President.
President of the Bundesbank
On December 20, 2021, German President Frank-Walter Steinmeier officially appointed Joachim Nagel as Jens Weidmann’s successor to lead the Deutsche Bundesbank. He commenced his duties on January 1, 2022.
International organizations
- European Systemic Risk Board (ESRB), Ex-Officio General Board Member (since 2022)
- Bank for International Settlements (BIS), Ex-Officio Board of Directors Member (since 2022)
- Financial Stability Board (FSB), Ex-Officio Member (since 2022)
- International Monetary Fund (IMF), Ex-Officio Board of Governors Member (since 2022)
Corporate boards
- Deutsche Börse AG, Supervisory Board Member (2018–2020)
Non-profit organizations
- Osservatorio Permanente Giovani-Editori, International Advisory Board Member (since 2023)
- House of Finance, Goethe University Frankfurt, Trustee Board Member
Personal life
Nagel is married and has two children.