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Axel A. Weber

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Axel A. Weber
Weber at the World Economic Forum Annual Meeting in 2013
7th President of the German Bundesbank
In office
30 April 2004 – 30 April 2011
Preceded byErnst Welteke
Succeeded byJens Weidmann
Personal details
Born (1957-03-08) 8 March 1957 (age 67)
Kusel, Rhineland-Palatinate
NationalityGermany
Alma materUniversity of Siegen
University of Konstanz
OccupationEconomist

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[1] and is a board member and chairman of the Board of Directors of UBS.[2] 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.[3] He is a member in the Group of Thirty.[2]

Education

Weber studied economics and public administration at the University of Constance from 1976 to 1982, graduating with a Master's degree (Diplom) in economics.[4][5]

Weber obtained a PhD in economics from the University of Siegen,[5] in 1987. Thereafter, he pursued his scientific studies abroad at the University of London and Tilburg. Between 1992 and 1993, Weber spent an academic year in Washington, D.C. while teaching. In 1994, Prof. Weber received his habilitation in Economics from the University of Siegen, Germany.[6] He also holds honorary doctorates from the University of Duisburg-Essen[5] and the University of Constance.[4]

Career

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.[7] 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.[8][9] He was also the Director of the Center for Financial Studies in Frankfurt am Main from 1998 to 2001[7] and of the Center for Financial Research at the University of Cologne from 2001 to 2004. 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.[10] From 2002 until 2011 he was a member of the expert advisory panel to the Deutsche Bundesbank.[7] Weber was also on the Board of Directors for the Bank for International Settlements (BIS),[2] German governor of the International Monetary Fund and a member of the G7 and G20 Ministers and Governors during this time. From 2010 to 2011 he was also a member of the Steering Committees of the European Systemic Risk Board and the Financial Stability Board. From 2011 to 2012 he was a visiting professor at the University of Chicago Booth School of Business.

Bundesbank

Weber was appointed President of the Deutsche Bundesbank by the German finance minister Hans Eichel as successor of the resigning Ernst Welteke[11] and he was elected as a member of the Governing Council of the European Central Bank in 2004.[7] On 9 February 2011 Weber announced that he would be resigning his chairmanship of the Bundesbank, effective 30 April 2011, a year before the expiry of his term of office.[12] 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.[13]

University of Chicago

As visiting professor, Weber taught two three-hour sessions of the course "Central Banking: Theories and Facts" on Mondays, fall 2011.[14] He attended the Federal Reserve Bank of Kansas City's Economic Policy Symposium in Moran near Jackson Hole, Wyoming, summer 2011.[15]

UBS AG

Weber was elected to the Board of Directors of the Swiss bank UBS AG at the 2012 AGM held on 3 May 2012 and of UBS Group AG in November 2014. He succeeded Kaspar Villiger as chairman of the Board of Directors.[16] Mr Weber's appointment was announced in mid-2011, when Villiger had been expected to retire in 2013.[17]

Axel A. Weber has chaired the Governance and Nominating Committee since 2012 and became Chairperson of the Corporate Culture and Responsibility Committee in 2013.[18]

Other mandates and interests

He is currently a board member of

Weber also serves as a member of

He is a member of the Advisory Board of the Department of Economics at the University of Zurich,[19] as well as of the Zukunft Finanzplatz.[20]

Weber is also chairman of the DIW Berlin Board of Trustee.

In late 2015, he was awarded the title of "European Banker of the Year 2014" in Germany by the International Association of Economic Journalists called the Group of 20+1.[19]

References

  1. ^ "Rajan and Weber appointed to G30". Chicago Booth Magazine. Retrieved 8 June 2015.
  2. ^ a b c "Chairman of the BoD of UBS". Group of Thirty. Retrieved 29 May 2012.
  3. ^ "Axel Weber To Succeed UBS Chairman Villiger In 2013 After Bundesbank Role". Bloomberg. Retrieved 29 May 2012.
  4. ^ a b "Prof. Dr. Axel Weber erhält die Ehrendoktorwürde der Universität Konstanz". Universität Konstanz. Retrieved 17 June 2015.
  5. ^ a b c "Axel A. Weber". UBS. Retrieved 20 December 2014.
  6. ^ a b "Axel A. Weber Ph.D." Bloomberg Businessweek. Retrieved 20 December 2014.
  7. ^ a b c d "Prof Axel A Weber Curriculum Vitae". Bundesbank.de. Bundesbank.de. Retrieved 17 December 2013.
  8. ^ "Curriculum Vitae". Goethe University Frankfurt. Retrieved 29 May 2012.
  9. ^ "Curriculum Vitae of Professor Dr. Axel A. Weber" (PDF). Goethe University Frankfurt. Retrieved 8 June 2015.
  10. ^ "Mr. Axel A. Weber, European Financial Services Round Table". efr.be. efr.be. Retrieved 17 December 2013.
  11. ^ "Axel A. Weber Ph.D." Bloomberg. Retrieved 17 June 2015.
  12. ^ "Weber To Leave Bundesbank In April, Throwing Race For ECB Chief Wide Open". Bloomberg. Retrieved 29 May 2012.
  13. ^ Randow, Jana. "Weber Throws ECB Race Open by Ruling Out Second Bundesbank Term". Bloomberg. Retrieved 9 February 2011.
  14. ^ 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.
  15. ^ "From left, Axel A. Weber, professor ..." with Yves Mersch, Luc Coene, photo/caption; Yahoo! News, 27 August 2011. Retrieved 2011-09-09.
  16. ^ "Results Of The Annual General Meeting Of UBS AG", HFT Review, 3 May 2012. Retrieved 2012-05-03.
  17. ^ Logutenkova, Elena (1 July 2011). "Axel Weber to Succeed UBS Chairman Villiger in 2013 After Bundesbank Role". Bloomberg. Retrieved 1 July 2011.
  18. ^ a b https://www.ubs.com/global/en/about_ubs/corporate-governance/board-of-directors/cv-axel-weber.html
  19. ^ a b "Department of Economics - Advisory Board". University of Zurich. Retrieved 17 June 2015. Cite error: The named reference "Department of Economics - Advisory Board" was defined multiple times with different content (see the help page).
  20. ^ ""Finanzdepartement setzt "Beirat Zukunft Finanzplatz" ein"". new.admin.ch. Retrieved 16 February 2016.
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