Gerrit Zalm

From Wikipedia, the free encyclopedia
Jump to: navigation, search
His Excellency
Gerrit Zalm
GZalm.jpg
Gerrit Zalm in 2008
Deputy Prime Minister of the Netherlands
In office
27 May 2003 – 22 February 2007
Serving with Thom de Graaf (2003–2005)
Laurens Jan Brinkhorst (2005–2006)
Prime Minister Jan Peter Balkenende
Preceded by Johan Remkes
Eduard Bomhoff
Succeeded by Wouter Bos
André Rouvoet
Minister of Economic Affairs
In office
3 July 2006 – 7 July 2006
Prime Minister Jan Peter Balkenende
Preceded by Laurens Jan Brinkhorst
Succeeded by Joop Wijn
Leader of the People's Party for Freedom and Democracy
In office
16 May 2002 – 27 November 2004
Preceded by Hans Dijkstal
Succeeded by Jozias van Aartsen
Leader of the People's Party for Freedom and Democracy in the House of Representatives
In office
23 May 2002 – 27 May 2003
Preceded by Hans Dijkstal
Succeeded by Jozias van Aartsen
Member of the House of Representatives
In office
23 May 2002 – 27 May 2003
In office
19 May 1998 – 3 August 1998
Minister of Finance
In office
27 May 2003 – 22 February 2007
Prime Minister Jan Peter Balkenende
Preceded by Hans Hoogervorst
Succeeded by Wouter Bos
In office
22 August 1994 – 22 July 2002
Prime Minister Wim Kok
Preceded by Wim Kok
Succeeded by Hans Hoogervorst
Director of the Bureau for Economic Policy Analysis
In office
1 January 1989 – 22 August 1994
Preceded by Peter de Ridder
Succeeded by Henk Don
Personal details
Born Gerrit Zalm
(1952-05-06) 6 May 1952 (age 65)
Enkhuizen, Netherlands
Nationality Dutch
Political party People's Party for Freedom and Democracy (from 1963)
Spouse(s) First wife (m. 1971–1978; divorced)
Lydia Brouwer (m. 1982)
Children 1 daughter (First wife)
1 son (First wife)
1 daughter (with Lydia)
2 sons (with Lydia)
Residence The Hague, Netherlands
Alma mater VU University Amsterdam (Bachelor of Economics, Master of Economics)
Occupation Politician
Civil servant
Economist
Banker
Corporate director
Professor

Gerrit Zalm (born 6 May 1952) is a Dutch banker and former politician of the People's Party for Freedom and Democracy (VVD). He served as Minister of Finance and Deputy Prime Minister from 27 May 2003 until 22 February 2007 in the Cabinets Balkenende II and III. He served earlier as Minister of Finance in the Cabinets Kok I and II from 22 August 1994 until 22 July 2002. After his term as Minister of Finance ended in 2002 he was selected by the People's Party for Freedom and Democracy to succeed retiring Party leader and Parliamentary leader in House of Representatives Hans Dijkstal. He served in this position for a full year before becoming Minister of Finance and Deputy Prime Minister in the Cabinet Balkenende II.[1]

He was the longest serving Minister of Finance in the History of the Netherlands and has been responsible for numerous reforms of the Economy of the Netherlands.

Zalm retired from politics after the completion of the term of the Cabinet Balkenende III, then went into banking. He served as chief economist, then CFO, of DSB Bank in 2007–2008, and transferred to the newly nationalized ABN AMRO to become its CEO in February 2009.[2]

Biography[edit]

Early life[edit]

Following his graduation from high school ("HBS-A" level) in Enkhuizen, Zalm began a study in economics at the Vrije Universiteit in Amsterdam, from which he graduated in 1975. In the same year he joined the Ministry of Finance. From 1983 he worked for the Ministry of Economic Affairs, where he eventually became a director. In 1988 he was appointed deputy director of the Centraal Planbureau, a state institution that, among other things, calculates the financial effects of government plans. In 1989 he became director of this institute. In that capacity Zalm had, although not formally a politician, a significant influence on politics. From 1990 he also gave lectures at the Vrije Universiteit.

Politics[edit]

Between 22 August 1994 and 22 July 2002, Zalm, member of the market liberal party People's Party for Freedom and Democracy, was Minister of Finance in the first and second Wim Kok administrations. The Dutch economy being very healthy during those years, he did not experience large difficulties. However, he did introduce certain standards that are in effect until now, among which the Zalmnorm (Zalm standard) which describes a state policy by which the state does not respond extremely to economic fluctuations but just counteracts them.During the first, short Balkenende administration, Zalm was the acting leader of the People's Party for Freedom and Democracy group in parliament. On 27 May 2003 he started his third term as Minister of Finance, in the second Balkenende administration, also serving as Deputy Prime Minister. On 30 June 2006, he succeeded Laurens Jan Brinkhorst as Minister of Economic Affairs, ad interim, with most tasks delegated to junior minister Karien van Gennip. On 7 July 2006 Joop Wijn was appointed as the new Minister of Economic Affairs.

Banking[edit]

On 26 November 2006, Zalm announced in the Sunday morning talk show Buitenhof that he would step down from politics and would probably seek employment in the private sector. Three months after his 2007 retirement from politics, Zalm went to work for DSB Bank, a company that he had criticized in his earlier role as finance minister for what he considered misleading advertising for consumer credit.[3] He initially held the position of chief economist, but quickly became CFO of the faltering bank after the Dutch central bank DNB had threatened to curtail DSB's financial autonomy.[4]

On 21 November 2008 it was announced by Prime minister Jan Peter Balkenende that Zalm will be the new CEO of the bank resulting from the merger of ABN and Fortis Netherlands, two recently nationalized banks.[5] This new position came under scrutiny after Zalm's previous employer DSB went bankrupt in 2009. The Netherlands Authority for the Financial Markets (AFM) and the central bank both investigated Zalm's role in DSB's final years, with AFM concluding that he was "not competent" and should be dismissed from ABN AMRO's board, while DNB decided to keep Zalm in his position.[4][6]

Personal[edit]

Zalm is a fan of Pinball and during his second term as Minister of Finance he had a pinball machine in his department. He is an honorary member of the Dutch Pinball Association.[7]

In 2004 he had a Cameo appearance in the movie Cool of Theo van Gogh.[8]

Decorations[edit]

References[edit]

  1. ^ (in Dutch) Drs. G. Zalm
  2. ^ (in Dutch) Gerrit Zalm nieuwe bestuursvoorzitter ABN AMRO/Fortis
  3. ^ "Eerste baan voor Gerrit Zalm bij DSB Bank - archief nrc.nl". NRC Handelsblad. 2007-06-26. Retrieved 2016-07-19. 
  4. ^ a b "DSB-curatoren halen Gerrit Zalm (weer) onderuit". Follow the Money (in Dutch). 2014-12-17. Retrieved 2016-07-19. 
  5. ^ (in Dutch) Gerrit Zalm: nieuwe topman Fortis en ABN Amro
  6. ^ "De bankier die weggestuurd had moeten worden". Follow the Money (in Dutch). 2012-09-21. Retrieved 2016-07-19. 
  7. ^ Belgers, Joris. "Twintig jaar pinball in de Polder". Trouw. 
  8. ^ Video on YouTube

External links[edit]

Civic offices
Preceded by
Peter de Ridder
Director of the Bureau for Economic Policy Analysis
1989–1994
Succeeded by
Henk Don
Political offices
Preceded by
Wim Kok
Minister of Finance
1994–2002
Succeeded by
Hans Hoogervorst
Preceded by
Laurens Jan Brinkhorst
Minister of Economic Affairs
2006
Succeeded by
Joop Wijn
Preceded by
Johan Remkes
Roelf de Boer
Deputy Prime Minister of the Netherlands
2003–2007
Served alongside: Thom de Graaf (2003–2005), Laurens Jan Brinkhorst (2005–2006)
Succeeded by
Wouter Bos
André Rouvoet
Preceded by
Hans Hoogervorst
Minister of Finance
2003–2007
Succeeded by
Wouter Bos
Party political offices
Preceded by
Hans Dijkstal
Leader of the People's Party for Freedom and Democracy
2002–2004
Succeeded by
Jozias van Aartsen
Leader of the People's Party for Freedom and Democracy in the House of Representatives
2002–2003
Business positions
Preceded by
Rijkman Groenink
Chairman of ABN AMRO
2009–present
Incumbent
Chief Executive Officer of ABN AMRO
2009–present
New office Chairman of the ABN AMRO Group
2009–present
Chief Executive Officer of the ABN AMRO Group
2009–present