Caio Koch-Weser
Encyclopedia
Caio Koch-Weser is a German politician, economist, civil servant and business executive. He was Secretary of State in the Federal Ministry of Finance
1999–2005. Prior to becoming Secretary of State, he served in the World Bank
in a number of positions for 26 years, from 1991–1999 as Vice President and from 1996–1999 as Managing Director of Operations. He is now a Vice Chairman and senior adviser with Deutsche Bank
.
, since his parents and grandparents had left Germany due to the rise of Nazism. He is the grandson of liberal politician and former German Federal Minister of Justice
and Vice Chancellor Erich Koch-Weser
, who had a Jewish mother.
Caio Koch-Weser settled in West Germany in 1961, at 17, where he took his Abitur
and went on to study economics, sociology and history in Münster, Berlin and Bonn.
He is married to Maritta Rogalla von Bieberstein, of the noble Rogalla von Bieberstein family.
in 1973. He served as Personal Assistant to the President of the Bank Robert McNamara
(1977–1980), Division Chief for China (1980–1986) and Director of Western Africa Department (1986–1990). In 1990 he was assigned to the Treasurer's Department, and in 1991 he became Vice President of Middle East and North Africa (MNA). He was appointed one of the Managing Directors of the World Bank in 1996. During his career in the World Bank, he mostly lived in Washington D.C., but also worked in Asia, Latin America, Eastern Europe, the Middle East and Africa.
government, he is not member of a political party.
He was nominated by the German government for the post as head of the International Monetary Fund
(IMF) in 2000, but because he was rejected by the United States
, the German government eventually nominated Horst Köhler
, who was elected. Horst Köhler, one of Koch-Weser's predecessors as Secretary of State in the Ministry of Finance, would later become President of Germany
.
, Koch-Weser decided to leave his post at the Ministry of Finance, and was appointed to the board of Deutsche Bank
, as Vice Chairman, in January 2006. He is also active as an advisor for major customers of the bank on financial, economic and strategic developments, and represents the bank in key public forums worldwide. He has been based in London since 2006.
He holds board positions in the Bertelsmann Foundation
, the World Economic Forum
and the think tank Bruegel. He is also a Member of the Board of Trustees for the Blum Center for Developing Economies at the University of California, Berkeley
. The Center is focused on finding solutions to address the crisis of extreme poverty and disease in the developing world.
Federal Minister of Finance (Germany)
The Federal Ministry of Finance is part of the German federal government and is responsible for managing the federal budget. The finance minister is the only minister who can veto a decision of the government if it would lead to additional expenditure...
1999–2005. Prior to becoming Secretary of State, he served in the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
in a number of positions for 26 years, from 1991–1999 as Vice President and from 1996–1999 as Managing Director of Operations. He is now a Vice Chairman and senior adviser with Deutsche Bank
Deutsche Bank
Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
.
Background and early life
Koch-Weser was born and grew up in BrazilBrazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, since his parents and grandparents had left Germany due to the rise of Nazism. He is the grandson of liberal politician and former German Federal Minister of Justice
Federal Ministry of Justice (Germany)
The Federal Ministry of Justice is a federal ministry in Germany.Under the federal system of Germany, individual states are most responsible for the administration of justice and the application of penalties. The Federal Ministry of Justice devotes itself to creating and changing law in the...
and Vice Chancellor Erich Koch-Weser
Erich Koch-Weser
Erich Koch-Weser was a German lawyer and liberal politician...
, who had a Jewish mother.
Caio Koch-Weser settled in West Germany in 1961, at 17, where he took his Abitur
Abitur
Abitur is a designation used in Germany, Finland and Estonia for final exams that pupils take at the end of their secondary education, usually after 12 or 13 years of schooling, see also for Germany Abitur after twelve years.The Zeugnis der Allgemeinen Hochschulreife, often referred to as...
and went on to study economics, sociology and history in Münster, Berlin and Bonn.
He is married to Maritta Rogalla von Bieberstein, of the noble Rogalla von Bieberstein family.
Career in the World Bank
Koch-Weser joined the World BankWorld Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
in 1973. He served as Personal Assistant to the President of the Bank Robert McNamara
Robert McNamara
Robert Strange McNamara was an American business executive and the eighth Secretary of Defense, serving under Presidents John F. Kennedy and Lyndon B. Johnson from 1961 to 1968, during which time he played a large role in escalating the United States involvement in the Vietnam War...
(1977–1980), Division Chief for China (1980–1986) and Director of Western Africa Department (1986–1990). In 1990 he was assigned to the Treasurer's Department, and in 1991 he became Vice President of Middle East and North Africa (MNA). He was appointed one of the Managing Directors of the World Bank in 1996. During his career in the World Bank, he mostly lived in Washington D.C., but also worked in Asia, Latin America, Eastern Europe, the Middle East and Africa.
Secretary of State in the Ministry of Finance
In May 1999 he was appointed Secretary of State in the Federal Ministry of Finance, and as such the administrative head of the Ministry and deputy of the Federal Minister of Finance. Despite being appointed to a political position in the SPDSocial Democratic Party of Germany
The Social Democratic Party of Germany is a social-democratic political party in Germany...
government, he is not member of a political party.
He was nominated by the German government for the post as head of the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
(IMF) in 2000, but because he was rejected by the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, the German government eventually nominated Horst Köhler
Horst Köhler
Horst Köhler is a German politician of the Christian Democratic Union. He was President of Germany from 2004 to 2010. As the candidate of the two Christian Democratic sister parties, the CDU and the CSU, and the liberal FDP, Köhler was elected to his first five-year term by the Federal Assembly on...
, who was elected. Horst Köhler, one of Koch-Weser's predecessors as Secretary of State in the Ministry of Finance, would later become President of Germany
President of Germany
The President of the Federal Republic of Germany is the country's head of state. His official title in German is Bundespräsident . Germany has a parliamentary system of government and so the position of President is largely ceremonial...
.
After politics
After the 2005 federal election and the formation of a new government under Angela MerkelAngela Merkel
Angela Dorothea Merkel is the current Chancellor of Germany . Merkel, elected to the Bundestag from Mecklenburg-Vorpommern, has been the chairwoman of the Christian Democratic Union since 2000, and chairwoman of the CDU-CSU parliamentary coalition from 2002 to 2005.From 2005 to 2009 she led a...
, Koch-Weser decided to leave his post at the Ministry of Finance, and was appointed to the board of Deutsche Bank
Deutsche Bank
Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
, as Vice Chairman, in January 2006. He is also active as an advisor for major customers of the bank on financial, economic and strategic developments, and represents the bank in key public forums worldwide. He has been based in London since 2006.
He holds board positions in the Bertelsmann Foundation
Bertelsmann Foundation
The Bertelsmann Foundation is the largest private operating non-profit foundation in Germany, created in 1977 by Reinhard Mohn. The Bertelsmann Foundation holds 77.4 percent of Bertelsmann AG....
, the World Economic Forum
World Economic Forum
The World Economic Forum is a Swiss non-profit foundation, based in Cologny, Geneva, best known for its annual meeting in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland....
and the think tank Bruegel. He is also a Member of the Board of Trustees for the Blum Center for Developing Economies at the University of California, Berkeley
University of California, Berkeley
The University of California, Berkeley , is a teaching and research university established in 1868 and located in Berkeley, California, USA...
. The Center is focused on finding solutions to address the crisis of extreme poverty and disease in the developing world.