Statement by Agustín Carstens, BIS General Manager, on Jens Weidmann

I am saddened by the news of Jens Weidmann's decision to step down from the Bundesbank, and therefore from his position as Chairman of the BIS Board, and extend my deepest gratitude to him for his enormous contributions to the BIS over the past 10 years. He has been a trusted colleague since he became President of the Bundesbank in 2011 and we started to meet regularly in Basel.   

He was elected Chairman of the Board in 2015. It is testimony to his excellent leadership that the Board re-elected him earlier this year for a third consecutive term, a vote of confidence in his ability to guide us through these exceptionally challenging times.

Jens was instrumental in helping the BIS develop and implement our medium-term strategy for building a culture of innovation at the BIS, BIS Innovation 2025, which cuts across all our activities – from staying at the forefront of knowledge on topics of importance to central banks to embracing diversity and inclusion in the workplace. His wholehearted support for this ambitious effort to position the BIS for the future will not be forgotten.

The Board will shortly begin the process of appointing a new Chair.