Elke König

Elke König (born 28 January 1954) is a German MBA in Business and auditor. From January 2012, she was president of the Federal Financial Supervisory Authority (BaFin); in December 2014, she became the first Chair of the newly established Single Resolution Board (SRB) of the Single Resolution Mechanism headquartered in Brussels [1]

Early life and education

König was born in Cologne (Rhineland).[2] She studied Business Administration at the University of Cologne from 1972 to 1976, where she earned a doctoral degree (Dr rer. pol.) between 1976-1980.

Career

From 1980 to 1990, König worked for KPMG Deutsche Treuhandgesellschaft in Cologne auditing and advising insurance undertakings, from 1986 as a holder of a special statutory authority (“Prokuristin”) and from 1988 as a director and partner. From 1990 to 2002, as a member of senior management of the Munich Re Group, Dr König was Head of Accounting before moving to Hannover Rückversicherung AG, the world's third-biggest reinsurer at the time, as Chief Financial Officer.[3] From 2010 to end-2011, König was a member of the International Accounting Standards Board (IASB) in London.

President of BaFin, 2012–2014

In January 2012, König was the successor of Jochen Sanio as president of the Federal Financial Supervisory Authority (BaFin) in Bonn.[4] The formal handover took place on 24 January 2012 in Frankfurt.

In her capacity as president of BaFin, König also served as member of the Financial Stability Board. During her time in office, BaFin escalated an investigation into possible manipulation of the euro interbank offered rate (Euribor) to include a special probe of German banks.[5]

In 2013, König and Claudia Buch were cited by German media as contenders for a post on the Executive Board of the European Central Bank that eventually went to Sabine Lautenschläger.[6] In late 2014, König resigned from her post at BaFin; her successor was Felix Hufeld who took office in 2015.[7]

Chair of the SRB, 2014–present

By late 2014, König was nominated by Finance Minister Wolfgang Schäuble for the top job at an EU fund designed to limit the fallout from a collapse of the banking system; at the time, Governor of the National Bank of Belgium Luc Coene as well as the former European Investment Bank head, Philippe Maystadt, were considered her contenders.[8]

Other activities

Personal life

König is married and has two children. She lives in Hannover.[11]

Publications

External links

References

  1. ↑ "EU Banking Union Fit for Service: Council appoints permanent members of the Single Resolution Board and adopts the methodology for banks' contributions to the resolutions funds". Press release from the European Commission. 2014-12-19. Retrieved 2015-02-05.
  2. ↑ Frank Drost, Peter Köhler, Susanne Metzger:. Elke König - champion of clarity. Handelsblatt of 25 January 2012 Design.
  3. ↑ Christian Kraemer (March 14, 2012), Hannover Re eyes relocation as capital rules loom Reuters.
  4. ↑ "Dr Elke König named new BaFin President". BaFin. 20 December 2011. Retrieved 17 December 2015.
  5. ↑ Jonathan Gould (January 28, 2013), German watchdog in special probe of Euribor banks Reuters.
  6. ↑ Rainer Buergin (February 24, 2014), Merkel Coalition Said to Pick Buch as Bundesbank Vice President Bloomberg News.
  7. ↑ "The executive". Federal Financial Supervisory Authority. BaFin. Retrieved 17 December 2015.
  8. ↑ Bafin head Koenig short-listed as SRM head Reuters, November 7, 2014.
  9. ↑ Honorary Members Hannover Center of Finance.
  10. ↑ Appointment of New Member to the ILF Board of Trustees and 4 New Members to the ILF Donors' Committee press release of November 27, 2015.
  11. ↑ Philipp Krohn (July 5, 2010), Elke König: Bilanzen im Blut Frankfurter Allgemeine Zeitung.
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