Gerrit Zalm

His Excellency Gerrit Zalm
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 Enkhuizen, Netherlands
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(s)	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 for before becoming Minister of Finance and Deputy Prime Minister in the Cabinet Balkenende II.

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.

Biography

Early life

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

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

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. 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.

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. 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.

Personal

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.

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

Decorations

• Netherlands
  • Order of Oranje-Nassau
    • Officer (December 10, 2002)
    • Commander (April 11, 2007)

External links

• Template:Nl Dr. G. (Gerrit) Zalm (Parlement & Politiek)