Joachim Nagel (born 31 May 1966) is a German economist who has been serving as President of the

Bundesbank The Deutsche Bundesbank (, , colloquially Buba, sometimes alternatively abbreviated as BBk or DBB) is the national central bank for Germany within the Eurosystem. It was the German central bank from 1957 to 1998, issuing the Deutsche Mark (DM). ...

since 2022. Before he was a senior manager of the

Bank for International Settlements The Bank for International Settlements (BIS) is an international financial institution which is owned by member central banks. Its primary goal is to foster international monetary and financial cooperation while serving as a bank for central bank ...

since 2020, having been a member of the board of the Deutsche Bundesbank from 2010 to 2016 and then a member of the board of the

KfW Bankengruppe The KfW, which together with its subsidiaries DEG, KfW IPEX-Bank and FuB forms the KfW Bankengruppe ("banking group"), is a German state-owned investment and development bank, based in Frankfurt. As of 2014, it is the world's largest national d ...

from 2017 to 2020. He was appointed President of the Deutsche Bundesbank on 1 January 2022, to replace

Jens Weidmann Jens Weidmann (born 20 April 1968) is a German economist who served as president of the Deutsche Bundesbank between 2011 and 2021. He also served as chairman of the Board of the Bank for International Settlements (BIS). Before moving to the Bunde ...

. He is a member of the

Social Democratic Party of Germany The Social Democratic Party of Germany ( , SPD ) is a social democratic political party in Germany. It is one of the major parties of contemporary Germany. Saskia Esken has been the party's leader since the 2019 leadership election together w ...

(SPD), along with the President who appointed him to serve initially under SPD Chancellor

Olaf Scholz Olaf Scholz (; born 14 June 1958) is a German politician who served as the Chancellor of Germany from 2021 to 2025. A member of the Social Democratic Party of Germany, Social Democratic Party (SPD), he previously served as Vice-Chancellor of Ge ...

Early life and education

After graduating from the Otto-Hahn-Gymnasium Karlsruhe, Nagel studied economics at the

Karlsruhe Institute of Technology The Karlsruhe Institute of Technology (KIT; ) is both a German public research university in Karlsruhe, Baden-Württemberg, and a research center of the Helmholtz Association. KIT was created in 2009 when the University of Karlsruhe (), founde ...

Career

After graduating in 1991, Nagel worked at the Karlsruhe Institute of Technology as a research assistant and later an advisor for economic and financial policy at the Social Democratic Party (SPD) in Bonn from March to October 1994. Funded by the SEW-EURODRIVE-Stiftung, he also spent a year in Washington doing research. In 1999 Nagel moved to the

, initially as Head of the Office of the President of the then State Central Bank in

Bremen Bremen (Low German also: ''Breem'' or ''Bräm''), officially the City Municipality of Bremen (, ), is the capital of the States of Germany, German state of the Bremen (state), Free Hanseatic City of Bremen (), a two-city-state consisting of the c ...

Lower Saxony Lower Saxony is a States of Germany, German state (') in Northern Germany, northwestern Germany. It is the second-largest state by land area, with , and fourth-largest in population (8 million in 2021) among the 16 ' of the Germany, Federal Re ...

and

Saxony-Anhalt Saxony-Anhalt ( ; ) is a States of Germany, state of Germany, bordering the states of Brandenburg, Saxony, Thuringia and Lower Saxony. It covers an area of and has a population of 2.17 million inhabitants, making it the List of German states ...

Hanover Hanover ( ; ; ) is the capital and largest city of the States of Germany, German state of Lower Saxony. Its population of 535,932 (2021) makes it the List of cities in Germany by population, 13th-largest city in Germany as well as the fourth-l ...

. In 2003 he moved to the headquarters of the Bundesbank in

Frankfurt am Main Frankfurt am Main () is the most populous city in the States of Germany, German state of Hesse. Its 773,068 inhabitants as of 2022 make it the List of cities in Germany by population, fifth-most populous city in Germany. Located in the forela ...

. In 2008 he became head of the central department Markets. In December 2010, he replaced

Thilo Sarrazin Thilo Sarrazin (born 12 February 1945) is a German politician and former member of the SPD, writer, senator of finance for the State of Berlin from January 2002 until April 2009, former member of the Executive Board of the Deutsche Bundesbank ...

, who had resigned, on the board of directors of the Deutsche Bundesbank. On April 30, 2016, he resigned from the Executive Board of the Deutsche Bundesbank. On November 1, 2016, Nagel joined the

KFW Bankengruppe The KfW, which together with its subsidiaries DEG, KfW IPEX-Bank and FuB forms the KfW Bankengruppe ("banking group"), is a German state-owned investment and development bank, based in Frankfurt. As of 2014, it is the world's largest national d ...

, the largest public development bank in Germany, as a general manager and then from 2017 to 2020 as Executive Board member. At the same time he was chairman of the supervisory board of KfW IPEX-Bank and first deputy chairman of the supervisory board of DEG German investment and development company. On November 1, 2020, Nagel became a member of the management of the

as Deputy Head of Banking.

President of the Bundesbank

On December 20, 2021, the German President

Frank-Walter Steinmeier Frank-Walter Steinmeier (; born 5 January 1956) is a German politician who has served as President of Germany since 2017. He was previously Minister for Foreign Affairs (Germany), federal minister for foreign affairs from 2005 to 2009 and again f ...

announced Nagel's appointment as successor to Jens Weidmann as president of the Deutsche Bundesbank. He assumed the position on 1 January 2022.

Other actitivies

International organizations

European Systemic Risk Board The European Systemic Risk Board (ESRB) is a group established on 16 December 2010 in response to the euro area crisis. It is tasked with the macro-prudential oversight of the financial system within the European Union in order to contribute to ...

(ESRB), Ex-Officio Member of the General Board (since 2022) *

(BIS), Ex-Officio Member of the Board of Directors (since 2022) *

Financial Stability Board The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established in the 2009 G20 Pittsburgh Summit as a successor to the Financial Stability Forum (FSF) ...

(FSB), Ex-Officio Member (since 2022) *

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of las ...

(IMF), Ex-Officio Member of the Board of Governors (since 2022)

Corporate boards

Deutsche Börse AG Deutsch ( , ) or Deutsche ( , ) may refer to: * or : the German language or in particular Standard German, spoken in central European countries and other places *Old High German language refers to Deutsch as a way to define the primary characteris ...

, Member of the Supervisory Board (2018–2020)

Non-profit organizations

* Osservatorio Permanente Giovani-Editori, International Advisory Board (since 2023) * House of Finance,

Goethe University Frankfurt Goethe University Frankfurt () is a public research university located in Frankfurt am Main, Germany. It was founded in 1914 as a citizens' university, which means it was founded and funded by the wealthy and active liberal citizenry of Frankfurt ...

, Member of the Board of TrusteesBoard of Trustees
House of Finance,

Personal life

Nagel is married and has two children.

References

{{DEFAULTSORT:Nagel, Joachim Presidents of the Deutsche Bundesbank 1966 births Social Democratic Party of Germany politicians Karlsruhe Institute of Technology alumni German bankers People from Karlsruhe Living people