Nout Wellink moves to Bank of China

Tuesday 20 November 2012

Former central bank president Nout Wellink has been appointed a commissioner responsible for supervision at Chinese state bank Bank of China.

The 69-year-old Wellink began his new job at the end of October but it has only just been announced.

Wellink was central bank president from 1997 until July 2011 and came in for a great deal of criticism on his handling of the financial crisis which began in 2008.

He told the press he thinks he got his new job because he was chairman of the Basel Committee which is introducing new and tougher financial demands for banks, known as Basel III.

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