Press Release: IMF Managing Director Köhler Proposes Stanford University's Krueger As First Deputy And Names Three Department Heads
IMF News, June 7, 2001
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Bibliographic details
- Published: June 7, 2001
Appointment overview
- Press Release No. 01/27
- Date: June 7, 2001
- Managing Director Horst Köhler proposed the appointment of Anne O. Krueger as First Deputy Managing Director to succeed Stanley Fischer.
- Köhler notified the Executive Board of intentions to appoint Directors for:
- the Research Department,
- the Policy Development and Review Department, and
- the newly created International Capital Markets Department (ICM).
Named senior appointees and intended positions
- Anne O. Krueger — proposed First Deputy Managing Director (to succeed Stanley Fischer).
- Appointment to a five-year term; requires Executive Board approval.
- Gerd Häusler — proposed Counsellor and Director of the International Capital Markets Department (ICM).
- Kenneth S. Rogoff — proposed Economic Counsellor and Director of the IMF's Research Department (succeeding Michael Mussa).
- Timothy Geithner — proposed Director of the Policy Development and Review Department (succeeding Jack Boorman).
Roles, timing, and organizational context
- The International Capital Markets Department (ICM) was created earlier in 2001 to consolidate functions previously spread among three IMF departments.
- The appointments are expected to take effect over the course of the summer.
- As First Deputy Managing Director, Ms. Krueger will:
- chair Executive Board meetings in the absence of the Managing Director,
- carry out country-specific and operational functions,
- be a leading member of the Fund's Management team, which includes Deputy Managing Directors Eduardo Aninat and Shigemitsu Sugisaki.
Backgrounds and qualifications (selected highlights)
- Anne O. Krueger:
- U.S. national.
- Herald L. and Caroline L. Ritch Professor in Humanities and Sciences, Department of Economics, Stanford.
- Director of the Center for Research on Economic Development and Policy Reform.
- Senior Fellow of the Hoover Institution at Stanford.
- Distinguished Fellow and past President of the American Economic Association.
- Member of the National Academy of Sciences; Research Associate of the National Bureau of Economic Research.
- Former chief economist of the World Bank; previously at Duke University and the University of Minnesota.
- Ph.D. from the University of Wisconsin.
- Gerd Häusler:
- German national.
- Senior Advisor to Deutsche Börse AG in Frankfurt for strategic issues.
- Former Member of the Directorate and Member of the Central Bank Council of the Deutsche Bundesbank.
- Held positions at the Bank for International Settlements.
- Oversaw Global Markets activities at Dresdner Bank AG; chaired Dresdner Kleinwort Benson in London from December 1997 until his resignation from the Dresdner Group in May 2000.
- Member of Supervisory Boards including ARBED S.A. and ESSO Deutschland GmbH; served on German Stock Exchange Advisory Panel, German Takeover Panel, International Advisory Committee of the Federal Reserve Bank of New York, Group of Thirty, and Director of the Institute of International Finance in Washington, D.C.
- Holds a law degree from the University of Frankfurt.
- Kenneth S. Rogoff:
- U.S. national.
- Professor of Economics at Harvard University since September 1999.
- Author of "Foundations of International Macroeconomics" (with Maurice Obstfeld).
- Former positions at Princeton University, University of California at Berkeley, University of Wisconsin-Madison.
- Served in the International Finance Division of the Board of Governors of the Federal Reserve System and as an Economist in the IMF Research Department.
- Research Associate of the National Bureau of Economic Research; Co-editor of NBER Macroeconomics Annual; former Guggenheim Fellow.
- Ph.D. from Massachusetts Institute of Technology.
- Timothy Geithner:
- U.S. national.
- Served in senior U.S. Treasury positions from 1997 to 2001.
- From 1998 to 2001, principal sub-cabinet level official on international economic issues, including responses to international economic and financial crises.
- Joined U.S. Treasury as a career civil servant in 1988; previously Assistant Financial Attaché at the U.S. Embassy in Tokyo; earlier employed by Kissinger Associates.
- Holds an M.A. in International Economics and East Asian Studies from Johns Hopkins School for Advanced International Studies and a B.A. in government and Asian Studies from Dartmouth College.
Key statement
- Managing Director Horst Köhler: "I look forward to working with these four outstanding individuals. With their extensive expertise in economics, international capital markets and high-level policy making, Anne Krueger, Gerd Häusler, Kenneth Rogoff, and Timothy Geithner will join current Management and senior staff in leading the IMF as we serve our membership and confront the challenges of the global economy. Together, they will build on the contribution of their distinguished predecessors, Stanley Fischer, Michael Mussa and Jack Boorman. At a time of important change for the IMF, we are confident we have the right team in place."
Source: IMF Press Release No. 01/27, June 7, 2001.