Gerrit Zalm
Encyclopedia
Gerrit Zalm is a retired Dutch
politician of the People's Party for Freedom and Democracy
(VVD). He served as Minister of Finance
and Deputy Prime Minister
from May 27, 2003 until February 22, 2007 in the Cabinets Balkenende II and III. He served earlier as Minister of Finance
in the Cabinets Kok I and II from August 22, 1994 until July 22, 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
. He retired from politics after the completion of the term of the Cabinet Balkenende III.
On February 28, 2009 he was named as the CEO
of the newly government owned bank ABN AMRO
.
, 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 there. 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
.
, 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.
, a bank known for giving loans to lower-income people. On 21 November 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.
and during his second term as Minister of Finance
he had a pinball machine in his office.
In 2004 he had a Cameo appearance
in the movie Cool of Theo van Gogh
.
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
politician of the People's Party for Freedom and Democracy
People's Party for Freedom and Democracy
The People's Party for Freedom and Democracy is a conservative-liberal political party located in the Netherlands. The VVD supports private enterprise in the Netherlands and is often perceived as an economic liberal party in contrast to the social-liberal Democrats 66 alongside which it sits in...
(VVD). He served as Minister of Finance
Ministry of Finance (Netherlands)
The Ministry of Finance is the Dutch ministry of finance: it is occupied with the national budget, taxation and financial economic policy, including supervision of financial markets...
and Deputy Prime Minister
Deputy Prime Minister of the Netherlands
The Deputy Prime Minister of the Netherlands is the official Deputy of the Head of Government of the Netherlands. In the absence of the Prime Minister the deputy prime minister takes over his functions, such as chairing the Cabinet of the Netherlands...
from May 27, 2003 until February 22, 2007 in the Cabinets Balkenende II and III. He served earlier as Minister of Finance
Ministry of Finance (Netherlands)
The Ministry of Finance is the Dutch ministry of finance: it is occupied with the national budget, taxation and financial economic policy, including supervision of financial markets...
in the Cabinets Kok I and II from August 22, 1994 until July 22, 2002. After his term as Minister of Finance
Ministry of Finance (Netherlands)
The Ministry of Finance is the Dutch ministry of finance: it is occupied with the national budget, taxation and financial economic policy, including supervision of financial markets...
ended in 2002 he was selected by the People's Party for Freedom and Democracy
People's Party for Freedom and Democracy
The People's Party for Freedom and Democracy is a conservative-liberal political party located in the Netherlands. The VVD supports private enterprise in the Netherlands and is often perceived as an economic liberal party in contrast to the social-liberal Democrats 66 alongside which it sits in...
to succeed retiring Party leader
Party leader
In politics, the party leader is the most powerful official within a political party.The party leader is typically responsible for managing the party's relationship with the general public. As such, he or she will take a leading role in developing and communicating party policy, especially election...
and Parliamentary leader
Parliamentary group leader
The leader or chairman of a parliamentary group holds an influential political post in a parliamentary system with strong party discipline...
in House of Representatives Hans Dijkstal
Hans Dijkstal
Henri Frans "Hans" Dijkstal was a Dutch politician of the People's Party for Freedom and Democracy . He served as Minister of the Interior and Deputy Prime Minister from 22 August 1994 until 3 August 1998...
. He served in this position for a full year for before becoming Minister of Finance
Ministry of Finance (Netherlands)
The Ministry of Finance is the Dutch ministry of finance: it is occupied with the national budget, taxation and financial economic policy, including supervision of financial markets...
and Deputy Prime Minister
Deputy Prime Minister of the Netherlands
The Deputy Prime Minister of the Netherlands is the official Deputy of the Head of Government of the Netherlands. In the absence of the Prime Minister the deputy prime minister takes over his functions, such as chairing the Cabinet of the Netherlands...
in the Cabinet Balkenende II.
He was the longest serving Minister of Finance
Ministry of Finance (Netherlands)
The Ministry of Finance is the Dutch ministry of finance: it is occupied with the national budget, taxation and financial economic policy, including supervision of financial markets...
in the History of the Netherlands
History of the Netherlands
The history of the Netherlands is the history of a maritime people thriving on a watery lowland river delta at the edge of northwestern Europe. When the Romans and written history arrived in 57 BC, the country was sparsely populated by various tribal groups at the periphery of the empire...
and has been responsible for numerous reforms of the Economy of the Netherlands
Economy of the Netherlands
On the Index of Economic Freedom, the Netherlands is the 13th most laissez-faire capitalist economy out of 157 surveyed countries. At the time of writing the Netherlands is the 16th largest economy of the world. Between 1998 and 2000 annual economic growth averaged nearly 4%, well above the...
. He retired from politics after the completion of the term of the Cabinet Balkenende III.
On February 28, 2009 he was named as the CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of the newly government owned bank ABN AMRO
ABN AMRO
ABN AMRO Bank N.V. is a Dutch state-owned bank with headquarters in Amsterdam. It was re-established, in its current form, in 2009 following the acquisition and break up of ABN AMRO Group by a banking consortium consisting of Royal Bank of Scotland Group, Santander and Fortis...
.
Early life
Following his graduation from high school ("HBS-A" level), Zalm began a study in economics at the Vrije UniversiteitVrije Universiteit
The Vrije Universiteit is a university in Amsterdam, Netherlands. The Dutch name is often abbreviated as VU and in English the university uses the name "VU University". The university is located on a compact urban campus in the southern part of Amsterdam in the Buitenveldert district...
, from which he graduated in 1975. In the same year he joined the Ministry of Finance
Ministry of Finance (Netherlands)
The Ministry of Finance is the Dutch ministry of finance: it is occupied with the national budget, taxation and financial economic policy, including supervision of financial markets...
. 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 there. 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
Vrije Universiteit
The Vrije Universiteit is a university in Amsterdam, Netherlands. The Dutch name is often abbreviated as VU and in English the university uses the name "VU University". The university is located on a compact urban campus in the southern part of Amsterdam in the Buitenveldert district...
.
Politics
Between 22 August 1994 and 22 July 2002, Zalm, member of the market liberal party People's Party for Freedom and DemocracyPeople's Party for Freedom and Democracy
The People's Party for Freedom and Democracy is a conservative-liberal political party located in the Netherlands. The VVD supports private enterprise in the Netherlands and is often perceived as an economic liberal party in contrast to the social-liberal Democrats 66 alongside which it sits in...
, was Minister of Finance in the first and second Wim Kok
Wim Kok
Willem "Wim" Kok ; born September 29, 1938) is a retired Dutch politician of the Labour Party . He served as Prime Minister of the Netherlands from August 22, 1994 until July 22, 2002....
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
Jan Peter Balkenende
Jan Pieter "Jan Peter" Balkenende is a Dutch politician of the party Christian Democratic Appeal .He was the Prime Minister of the Netherlands from 22 July 2002 until 14 October 2010, having led four coalition governments, cabinets Balkenende I, II, III and IV, none of which served a full...
administration, Zalm was the acting leader of the People's Party for Freedom and Democracy
People's Party for Freedom and Democracy
The People's Party for Freedom and Democracy is a conservative-liberal political party located in the Netherlands. The VVD supports private enterprise in the Netherlands and is often perceived as an economic liberal party in contrast to the social-liberal Democrats 66 alongside which it sits in...
group in parliament. On 27 May 2003 he started his third term as Minister of Finance
Ministry of Finance (Netherlands)
The Ministry of Finance is the Dutch ministry of finance: it is occupied with the national budget, taxation and financial economic policy, including supervision of financial markets...
, in the second Balkenende administration, also serving as Deputy Prime Minister. On 30 June 2006, he succeeded Laurens Jan Brinkhorst
Laurens Jan Brinkhorst
Laurens Jan Brinkhorst is a Dutch D66 politician.Brinkhorst was an undersecretary of state of foreign affairs and a minister of agriculture. Furthermore he was the leader of the D66-group in the Second Chamber of the Dutch parliament...
as Minister of Economic Affairs, ad interim, with most tasks delegated to junior minister Karien van Gennip
Karien van Gennip
Karien van Gennip is a former Dutch politician. In 2008 she was appointed Director European & International Affairs for ING Group.-References:...
. On 7 July 2006 Joop Wijn
Joop Wijn
Joannes Gerardus Wijn was Minister of Economic Affairs in the third Balkenende cabinet of the Netherlands....
was appointed as the new Minister of Economic Affairs.
After politics
On 26 November 2006, he announced in the Sunday morning talk show Buitenhof that he would step down from politics and would probably seek employment in the private sector. Zalm ended up working for the DSB BankDSB Bank
DSB Bank was a Dutch bank and insurer. The company was founded in 1975 by Dirk Scheringa, a former police officer. It was originally called Buro Frisia, but in 1998 the DSB Groep was founded which included Buro Frisia...
, a bank known for giving loans to lower-income people. On 21 November it was announced by Prime minister Jan Peter Balkenende
Jan Peter Balkenende
Jan Pieter "Jan Peter" Balkenende is a Dutch politician of the party Christian Democratic Appeal .He was the Prime Minister of the Netherlands from 22 July 2002 until 14 October 2010, having led four coalition governments, cabinets Balkenende I, II, III and IV, none of which served a full...
that Zalm will be the new CEO of the bank resulting from the merger of ABN and Fortis Netherlands, two recently nationalized banks.
Trivia
Zalm is a fan of PinballPinball
Pinball is a type of arcade game, usually coin-operated, where a player attempts to score points by manipulating one or more metal balls on a playfield inside a glass-covered case called a pinball machine. The primary objective of the game is to score as many points as possible...
and during his second term as Minister of Finance
Ministry of Finance (Netherlands)
The Ministry of Finance is the Dutch ministry of finance: it is occupied with the national budget, taxation and financial economic policy, including supervision of financial markets...
he had a pinball machine in his office.
In 2004 he had a Cameo appearance
Cameo appearance
A cameo role or cameo appearance is a brief appearance of a known person in a work of the performing arts, such as plays, films, video games and television...
in the movie Cool of Theo van Gogh
Theo van Gogh (film director)
Theodoor "Theo" van Gogh was a Dutch film director, film producer, columnist, author and actor.Van Gogh worked with the Somali-born writer Ayaan Hirsi Ali to produce the film Submission, which criticized the treatment of women in Islam and aroused controversy among Muslims...
.
Decorations
- Order of Orange-NassauOrder of Orange-NassauThe Order of Orange-Nassau is a military and civil order of the Netherlands which was created on 4 April 1892 by the Queen regent Emma of the Netherlands, acting on behalf of her under-age daughter Queen Wilhelmina. The Order is a chivalry order open to "everyone who have earned special merits for...
- Officer (December 10, 2002)
- Commander (April 11, 2007)