Axel A. Weber
Encyclopedia
Axel Alfred Weber is a German
economist
, professor and banker. He teaches at the University of Chicago Booth School of Business and is a board member and prospective chairman of UBS. He was president of the Deutsche Bundesbank
and a member of the European Central Bank
Governing Council from 30 April 2004 to 30 April 2011.
and public administration
at the University of Konstanz
from 1976 to 1982, graduating with a degree (Diplom
) in economics.
and was awarded a Doctorate
in 1987. After gaining his Habilitation
at the University Siegen, in 1994 he was appointed Professor of Economic Theory at the University of Bonn
and in 1998 he moved to the Goethe University Frankfurt (where he remains a member of the Advisory Board). He was also the Director of the Center for Financial Studies
in Frankfurt am Main. In 2001 he was appointed Professor of International Economics at the University of Cologne
, and from 2002 to 2004 he was a Member of the German Council of Economic Experts
. From October 2002 he was a member of the expert advisory panel to the Deutsche Bundesbank. Weber was also on the Board of Directors for the Bank for International Settlements
(BIS).
to others to succeed Jean-Claude Trichet
starting 1 November 2011.
's Economic Policy Symposium in Moran
near Jackson Hole, Wyoming, summer 2011.
's retirement in 2013.
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
, professor and banker. He teaches at the University of Chicago Booth School of Business and is a board member and prospective chairman of UBS. He was president of the Deutsche Bundesbank
Deutsche Bundesbank
The Deutsche Bundesbank is the central bank of the Federal Republic of Germany and as such part of the European System of Central Banks . Due to its strength and former size, the Bundesbank is the most influential member of the ESCB. Both the Deutsche Bundesbank and the European Central Bank are...
and a member of the European Central Bank
European Central Bank
The European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
Governing Council from 30 April 2004 to 30 April 2011.
Education
Weber studied economicsEconomics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
and public administration
Public administration
Public Administration houses the implementation of government policy and an academic discipline that studies this implementation and that prepares civil servants for this work. As a "field of inquiry with a diverse scope" its "fundamental goal.....
at the University of Konstanz
University of Konstanz
The University of Konstanz is a university in the city of Konstanz in Baden-Württemberg, Germany. It was founded in 1966, and the main campus on the Gießberg was opened in 1972. As one of nine German Excellence Universities today University of Konstanz is counted among Germany's most prestigious...
from 1976 to 1982, graduating with a degree (Diplom
Diplom
A Diplom is an academic degree in the German-speaking countries Germany, Austria, and Switzerland and a similarly named degree in some other European countries including Belarus, Bosnia and Herzegovina, Croatia, Estonia, Finland , Greece, Hungary, Russia, Serbia, Macedonia, Slovenia, and Ukraine...
) in economics.
Career
From 1982 to 1988 Weber worked as research assistant in the field of monetary economics at the University of SiegenUniversity of Siegen
The University of Siegen in Siegen, North Rhine-Westphalia, was founded in 1972. 14,100 students were enrolled at the university as of October 2010.-Faculties:University of Siegen offers in total 126 degree programmes across four faculties:...
and was awarded a Doctorate
Doctorate
A doctorate is an academic degree or professional degree that in most countries refers to a class of degrees which qualify the holder to teach in a specific field, A doctorate is an academic degree or professional degree that in most countries refers to a class of degrees which qualify the holder...
in 1987. After gaining his Habilitation
Habilitation
Habilitation is the highest academic qualification a scholar can achieve by his or her own pursuit in several European and Asian countries. Earned after obtaining a research doctorate, such as a PhD, habilitation requires the candidate to write a professorial thesis based on independent...
at the University Siegen, in 1994 he was appointed Professor of Economic Theory at the University of Bonn
University of Bonn
The University of Bonn is a public research university located in Bonn, Germany. Founded in its present form in 1818, as the linear successor of earlier academic institutions, the University of Bonn is today one of the leading universities in Germany. The University of Bonn offers a large number...
and in 1998 he moved to the Goethe University Frankfurt (where he remains a member of the Advisory Board). He was also the Director of the Center for Financial Studies
Center for Financial Studies
The Center for Financial Studies , located in Frankfurt, is an independent research institute affiliated to the Goethe University Frankfurt. It is financed via donations and contribu-tions from its members. Its sponsoring body is the Gesellschaft für Kapitalmarktforschung e.V., which counts amongst...
in Frankfurt am Main. In 2001 he was appointed Professor of International Economics at the University of Cologne
University of Cologne
The University of Cologne is one of the oldest universities in Europe and, with over 44,000 students, one of the largest universities in Germany. The university is part of the Deutsche Forschungsgemeinschaft, an association of Germany's leading research universities...
, and from 2002 to 2004 he was a Member of the German Council of Economic Experts
German Council of Economic Experts
The German Council of Economic Experts or ' is a group of economists set up in 1963 to advise the German government and Parliament on economic policy issues. Every year the Council prepares the annual report which is published before or by November 15...
. From October 2002 he was a member of the expert advisory panel to the Deutsche Bundesbank. Weber was also on the Board of Directors for the Bank for International Settlements
Bank for International Settlements
The Bank for International Settlements is an intergovernmental organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks." It is not accountable to any national government...
(BIS).
Bundesbank
Weber was appointed President of the Deutsche Bundesbank and a member of the Governing Council of the European Central Bank on 30 April 2004. On 9 February 2011 Weber announced that he would be resigning his chairmanship of the Bundesbank, effective 30 April 2011 (which was a year earlier than the expiry of his term of office). The move was seen as throwing open the candidacy for president of the European Central BankEuropean Central Bank
The European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
to others to succeed Jean-Claude Trichet
Jean-Claude Trichet
Jean-Claude Trichet is a French civil servant who was the president of the European Central Bank, a position he held from 2003 to 2011. He is also a member of the Board of Directors of the Bank for International Settlements...
starting 1 November 2011.
University of Chicago
As visiting professor, Weber will teach two three-hour sessions of the course “Central Banking: Theories and Facts” on Mondays, fall 2011. He attended the Federal Reserve Bank of Kansas CityFederal Reserve Bank of Kansas City
The Federal Reserve Bank of Kansas City covers the 10th District of the Federal Reserve, which includes Colorado, Kansas, Nebraska, Oklahoma, Wyoming, and portions of western Missouri and northern New Mexico. The Bank has branches in Denver, Oklahoma City, and Omaha. The current president is...
's Economic Policy Symposium in Moran
Moran, Wyoming
Moran is an unincorporated community in south central Teton County, Wyoming, United States, which serves as one of the principal fee collection entrances to Grand Teton National Park. It lies in Grand Teton National Park northeast of the city of Jackson, the county seat of Teton County, at the...
near Jackson Hole, Wyoming, summer 2011.
UBS
Weber was appointed to the board of the Swiss banking giant UBS starting from 3 May 2012 (subject to shareholder vote), and he will be chairman of the bank after Kaspar VilligerKaspar Villiger
Kaspar Villiger is a Swiss businessman, politician and former member of the Swiss Federal Council . He currently heads Swiss bank UBS.-Political career:On February 1, 1989, he was elected to the Swiss Federal Council...
's retirement in 2013.