Jacques de Larosière
Encyclopedia
Jacques de Larosière de Champfeu (born November 2, 1929, Paris
) is a French
civil servant. He is the Chairman of the Strategic Committee of the French Treasury and Advisor to BNP Paribas
, became President of the London-based European Bank for Reconstruction and Development
in September 1993 in the wake of the scandals that led to the departure of the EBRD's first president, Jacques Attali
. He left this position in 1998 after restoring the bank's reputation and credibility. Following the financial crisis, Jacques de Larosière wrote a report to the European Commission
, advocating the creation of a “European Systemic Risk Council” to assess information about financial stability.
Prior to his EBRD service, Mr de Larosière was an able and tough-minded Managing Director of the International Monetary Fund
(IMF) from June 17, 1978 to January 15, 1987, and Governor of the Banque de France
from 1987 to 1993. In 1992, he became a member of the influential Washington-based financial advisory body, the Group of Thirty
.
Jacques de Larosière is a graduate of the Institut d'Etudes Politiques de Paris
, and École Nationale d'Administration
.
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
) is a French
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
civil servant. He is the Chairman of the Strategic Committee of the French Treasury and Advisor to BNP Paribas
BNP Paribas
BNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger...
, became President of the London-based European Bank for Reconstruction and Development
European Bank for Reconstruction and Development
Founded in 1991, the European Bank for Reconstruction and Development uses the tools of investment to help build market economies and democracies in 30 countries from central Europe to central Asia. Its mission was to support the formerly communist countries in the process of establishing their...
in September 1993 in the wake of the scandals that led to the departure of the EBRD's first president, Jacques Attali
Jacques Attali
Jacques Attali is a French economist, writer and senior civil servant.Former adviser to President François Mitterrand and first president of the European Bank for Reconstruction and Development, he founded the non-profit organization PlaNet Finance and was nominated President of the Commission for...
. He left this position in 1998 after restoring the bank's reputation and credibility. Following the financial crisis, Jacques de Larosière wrote a report to the European Commission
European Commission
The European Commission is the executive body of the European Union. The body is responsible for proposing legislation, implementing decisions, upholding the Union's treaties and the general day-to-day running of the Union....
, advocating the creation of a “European Systemic Risk Council” to assess information about financial stability.
Prior to his EBRD service, Mr de Larosière was an able and tough-minded Managing Director of the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
(IMF) from June 17, 1978 to January 15, 1987, and Governor of the Banque de France
Banque de France
The Banque de France is the central bank of France; it is linked to the European Central Bank . Its main charge is to implement the interest rate policy of the European System of Central Banks...
from 1987 to 1993. In 1992, he became a member of the influential Washington-based financial advisory body, the Group of Thirty
Group of Thirty
The Group of Thirty, often abbreviated to G30, is an international body of leading financiers and academics which aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sectors related to these issues...
.
Jacques de Larosière is a graduate of the Institut d'Etudes Politiques de Paris
Institut d'Etudes Politiques de Paris
The Institut d'études politiques de Paris , simply referred to as Sciences Po , is a public research and higher education institution in Paris, France, specialised in the social sciences. It has the status of grand établissement, which allows its admissions process to be highly selective...
, and École Nationale d'Administration
École nationale d'administration
The École Nationale d'Administration , one of the most prestigious of French graduate schools , was created in 1945 by Charles de Gaulle to democratise access to the senior civil service. It is now entrusted with the selection and initial training of senior French officials...
.