Axel A. Weber
|Axel A. Weber|
Weber at the World Economic Forum Annual Meeting in 2013
|7th President of the German Bundesbank|
30 April 2004 – 30 April 2011
|Preceded by||Ernst Welteke|
|Succeeded by||Jens Weidmann|
8 March 1957 |
|Alma mater||University of Siegen
University of Konstanz
Axel Alfred Weber, Prof., Dr. (born 8 March 1957 in Kusel) is a German economist, professor and banker. He taught at the University of Chicago Booth School of Business and is a board member and chairman of the board of UBS. He was president of the Deutsche Bundesbank and a member of the European Central Bank Governing Council from 30 April 2004 to 30 April 2011. He is a member in the Group of Thirty.
Weber obtained a PhD in economics from the University of Siegen, in 1987. Thereafter, he pursued his scientific studies abroad at the University London and Tilburg. Between 1992 and 1993, Weber spent an academic year in Washington DC while teaching. In 1994, Prof. Weber received his habilitation in Economics from the University of Siegen, Germany. He also holds honorary doctorates from the University of Duisburg-Essen and the University of Constance.
From 1982 to 1988 Weber worked as research assistant in the field of monetary economics at the University of Siegen and was awarded a Doctorate in 1987. After gaining his Habilitation at the University Siegen, in 1994 he was appointed Professor of Economic Theory at the University of Bonn and in 1998 he moved to the Goethe University Frankfurt (where he remains a member of the Advisory Board). He was also the Director of the Center for Financial Studies in Frankfurt am Main. In 2001 he was appointed Professor of International Economics at the University of Cologne, and from 2002 to 2004 he was a Member of the German Council of Economic Experts. From October 2002 he was a member of the expert advisory panel to the Deutsche Bundesbank. Weber was also on the Board of Directors for the Bank for International Settlements (BIS).
Weber was appointed President of the Deutsche Bundesbank by the German finance minister Hans Eichel as successor of the resigning Ernst Welteke and a member of the Governing Council of the European Central Bank on 30 April 2004. On 9 February 2011 Weber announced that he would be resigning his chairmanship of the Bundesbank, effective 30 April 2011 (which was a year earlier than the expiry of his term of office). The move was seen as throwing open the candidacy for president of the European Central Bank to others to succeed Jean-Claude Trichet starting 1 November 2011.
University of Chicago
As visiting professor, Weber taught two three-hour sessions of the course "Central Banking: Theories and Facts" on Mondays, fall 2011. He attended the Federal Reserve Bank of Kansas City's Economic Policy Symposium in Moran near Jackson Hole, Wyoming, summer 2011.
Weber was elected to the Board of Directors of the Swiss bank UBS AG at the 2012 AGM held on 3 May 2012. He succeeded Kaspar Villiger as chairman of the Board of Directors. Mr Weber's appointment was announced in mid-2011, when Villiger had been expected to retire in 2013.
Axel A. Weber has chaired the Governance and Nominating Committee since 2012 and became Chairperson of the Corporate Responsibility Committee in 2013.
Other mandates and interests
He is currently a board member of
- the Swiss Finance Council,
- the Swiss Bankers Association,
- the IIF (Institute of International Finance) and
- the International Monetary Conference.
- the Financial Services Professional Board, Kuala Lumpur
Weber also serves as a member of
- the Group of Thirty, Washington, D.C.,
- the Board of Trustees of Avenir Suisse,
- the IMD Foundation Board in Lausanne,
- the European Financial Services Roundtable and
- the European Banking Group.
He is a member of the Advisory Board of the Department of Economics at the University of Zurich as well as at the German Market Economy Foundation, and member of the Advisory Council (Hochschulrat) of the Goethe University of Frankfurt/Main.
Weber is also a research fellow/senior research fellow at:
- the Center for Economic Policy Research in London,
- the Center for Financial Studies in Frankfurt/Main,
- the Center for Financial Research in Cologne.
He is also an active member of
- the European Money and Finance Forum and
- the monetary Economics and International Economics Councils in the Verein für Socialpolitik in Frankfurt.
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- "Curriculum Vitae". Goethe University Frankfurt. Retrieved 29 May 2012.
- "Curriculum Vitae of Professor Dr. Axel A. Weber" (PDF). Goethe University Frankfurt. Retrieved 8 June 2015.
- "Mr. Axel A. Weber, European Financial Services Round Table". efr.be. efr.be. Retrieved 17 December 2013.
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- "Weber To Leave Bundesbank In April, Throwing Race For ECB Chief Wide Open". Bloomberg. Retrieved 29 May 2012.
- Randow, Jana. "Weber Throws ECB Race Open by Ruling Out Second Bundesbank Term". Bloomberg. Retrieved 2011-02-09.
- Reddy, Sudeep,"Axel Weber’s MBA Course ‘Draws Heavily from Current Events’", Wall Street Journal blog, 19 July 2011 8:48 am EDT. Retrieved 2011-09-09.
- "From left, Axel A. Weber, professor ..." with Yves Mersch, Luc Coene, photo/caption; Yahoo! News, 27 August 2011. Retrieved 2011-09-09.
- "Results Of The Annual General Meeting Of UBS AG", HFT Review, 3 May 2012. Retrieved 2012-05-03.
- Logutenkova, Elena (1 July 2011). "Axel Weber to Succeed UBS Chairman Villiger in 2013 After Bundesbank Role". Bloomberg. Retrieved 2011-07-01.
- "Department of Economics - Advisory Board". University of Zurich. Retrieved 17 June 2015.
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