Nout Wellink
Encyclopedia
Arnout Henricus Elisabeth Maria "Nout" Wellink (born 27 August 1943 in Bredevoort
, Netherlands
) is a Dutch
economist
and central banker
.
In 2010, Financial News
determined that Wellink as the one man who is believed to have wielded the greatest influence on worldwide financial oversight including "game-changing proposals on capital requirements and liquidity" for the world’s banks.
He has been President of the De Nederlandsche Bank
(DNB) and a Director of the Bank for International Settlements
(BIS) since 1997. He was Chairman of the Board from 2002 through 2006. Also, Wellink has been a member of the Governing Council of the European Central Bank
since 1999.
Wellink is a Governor of the International Monetary Fund
(IMF) and member of the Financial Stability Board
(FSB).
from 1961 to 1968. He was awarded a Ph.D.
degree in economics from Erasmus University Rotterdam in 1975.
. He rose through the bureaucracy to become Director General of Financial and Economic Policy. He also held the post of Treasurer General.
In 1982, he became Executive Director of De Nederlandsche Bank (DNB), the central bank of The Netherlands. In 1997, he was named president of the bank. On 1 July 2011 his term as president of DNB will end.
In 2000, Wellink became a member of the Trilateral Commission
.
(BCBS). BCBS examines and proposes ways to reconfigure global banking regulations. Wellink's point-of-view is not fixed, encompassing the premise that "a resilient banking system is central to sound financial markets and growth. Supervisors cannot predict the next crisis but they can carry forward lessons from recent events to promote a more resilient system which can weather shocks, whatever the source."
Bredevoort
Bredevoort or Brevoort is a small city with Town privileges of about 1600 inhabitants, located in the municipality of Aalten, Netherlands. It is situated between the towns of Aalten and Winterswijk....
, Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
) is a Dutch
Dutch people
The Dutch people are an ethnic group native to the Netherlands. They share a common culture and speak the Dutch language. Dutch people and their descendants are found in migrant communities worldwide, notably in Suriname, Chile, Brazil, Canada, Australia, South Africa, New Zealand, and the United...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
and central banker
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
.
In 2010, Financial News
Financial News
The Financial News, is a financial newspaper and news website published in London. It is a weekly investment banking, fund management and securities industries newspaper, published by eFinancial News Limited. Financial News was founded in 1996....
determined that Wellink as the one man who is believed to have wielded the greatest influence on worldwide financial oversight including "game-changing proposals on capital requirements and liquidity" for the world’s banks.
He has been President of the De Nederlandsche Bank
De Nederlandsche Bank
De Nederlandsche Bank is the central bank of the Netherlands. It is part of the European System of Central Banks .-History:...
(DNB) and a Director of the Bank for International Settlements
Bank for International Settlements
The Bank for International Settlements is an intergovernmental organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks." It is not accountable to any national government...
(BIS) since 1997. He was Chairman of the Board from 2002 through 2006. Also, Wellink has been a member of the Governing Council of the European Central Bank
European Central Bank
The European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
since 1999.
Wellink is a Governor 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) and member of the Financial Stability Board
Financial Stability Board
The Financial Stability Board is an international body that monitors and makes recommendations about the global financial system. It was established after the 2009 G-20 London summit in April 2009 as a successor to the Financial Stability Forum. The Board includes all G-20 major economies, FSF...
(FSB).
Early life
He studied law at Leiden UniversityLeiden University
Leiden University , located in the city of Leiden, is the oldest university in the Netherlands. The university was founded in 1575 by William, Prince of Orange, leader of the Dutch Revolt in the Eighty Years' War. The royal Dutch House of Orange-Nassau and Leiden University still have a close...
from 1961 to 1968. He was awarded a Ph.D.
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
degree in economics from Erasmus University Rotterdam in 1975.
Career
From 1970 to 1982, Wellink worked at the Dutch Ministry of FinanceMinistry of Finance (Netherlands)
The Ministry of Finance is the Dutch ministry of finance: it is occupied with the national budget, taxation and financial economic policy, including supervision of financial markets...
. He rose through the bureaucracy to become Director General of Financial and Economic Policy. He also held the post of Treasurer General.
In 1982, he became Executive Director of De Nederlandsche Bank (DNB), the central bank of The Netherlands. In 1997, he was named president of the bank. On 1 July 2011 his term as president of DNB will end.
In 2000, Wellink became a member of the Trilateral Commission
Trilateral Commission
The Trilateral Commission is a non-governmental, non-partisan discussion group founded by David Rockefeller in July 1973 to foster closer cooperation among the United States, Europe and Japan.-History:...
.
Basel Committee
From 2006 through 2011, Wellink was chairman of the Basel Committee on Banking SupervisionBasel Committee on Banking Supervision
The Basel Committee on Banking Supervision is a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten countries in 1975. It provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance...
(BCBS). BCBS examines and proposes ways to reconfigure global banking regulations. Wellink's point-of-view is not fixed, encompassing the premise that "a resilient banking system is central to sound financial markets and growth. Supervisors cannot predict the next crisis but they can carry forward lessons from recent events to promote a more resilient system which can weather shocks, whatever the source."
Selected works
Wellink published works include books and articles.- Jonge wijn in oude zakken : op weg naar een nieuwe Nieuwe economie (2001)
- President's speech (2005)
Honours
- Commander of the Order of Orange-NassauOrder of Orange-NassauThe Order of Orange-Nassau is a military and civil order of the Netherlands which was created on 4 April 1892 by the Queen regent Emma of the Netherlands, acting on behalf of her under-age daughter Queen Wilhelmina. The Order is a chivalry order open to "everyone who have earned special merits for...
- Knight of the Order of the Netherlands Lion
- Honorary doctorate from the University of Tilburg