Senior civil servant to take over as central bank president

A senior civil servant from the finance ministry will take over as president of the central bank when Nout Wellink steps down in July.

Klaas Knot is also a close advisor to finance minister Jan Kees de Jager and a part-time lecturer at Groningen University, the bank said in a statement.
Knot, 44, worked previously for the central bank and the International Monetary Fund. The appointment runs for seven years. Knot will earn a basic salary of €315,000, well below Wellink’s €407,000.
New breed
According to the Financieele Dagblad, Knot is a representative of a new breed of younger bank presidents. Mid February, 42-year-old Jens Weidmann was named head of Germany’s central bank.
Sources told the paper Knot understands about running an economy and has the skills to bring about change within the bank’s organisation itself.
The central bank’s new head of regulation is Jan Sijbrand, currently chief risk officer at merchant bank NIBC. Frank Elderson, the current head of the central bank’s legal affairs department will take the new job of COO.

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