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Board of Directors

July 2003

Nout H E M Wellink, Amsterdam (Chairman of the Board of Directors, President of the Bank)

Hans Tietmeyer, Frankfurt am Main (Vice-Chairman)

Vincenzo Desario, Rome; David Dodge, Ottawa; Antonio Fazio, Rome; Toshihiko Fukui, Tokyo; Sir Edward A J George, London; Alan Greenspan, Washington; Hervé Hannoun, Paris; Lars Heikensten, Stockholm; Mervyn  King, London; Guy Quaden, Brussels; Jean-Pierre Roth, Zürich; Jamie B Stewart, New York; Jean-Claude Trichet, Paris; Alfons Vicomte Verplaetse, Brussels; Ernst Welteke, Frankfurt am Main

Alternates

Bruno Bianchi or Vincenzo Pontolillo, Rome; Roger W Ferguson or Karen H Johnson, Washington; Peter Praet or Jan Smets, Brussels; Jürgen Stark or Stefan Schönberg, Frankfurt am Main; Marc-Olivier Strauss-Kahn or Michel Cardona, Paris; Paul Tucker or Paul Fisher, London

About the Board

The Board of Directors, currently chaired by Nout Wellink, President of the Netherlands Bank, has 17 members. The Board has six ex officio directors, comprising the Governors of the central banks of Belgium, France, Germany, Italy and the United Kingdom and the Chairman of the Board of Governors of the US Federal Reserve System. Each ex officio member appoints another member of the same nationality. The Statutes also provide for the election to the Board of not more than nine Governors of other member central banks. The Governors of the central banks of Canada, Japan, the Netherlands, Sweden and Switzerland are currently elected members of the Board.

The Board of Directors elects a Chairman from among its members and appoints the President of the BIS for a three-year term. Since 1948 the two offices have been vested in one person. The Board also elects a Vice-Chairman.

The Board meets at least six times a year and receives reports from BIS Management on the administrative and financial operations of the Bank. The Consultative Committee and the Audit Committee, made up of selected Board members, assist the Board in its work. The Consultative Committee reviews budgetary, financial and administrative issues and presents its views to the Board prior to final decisions being taken. The Audit Committee provides a channel of communication between the Bank's internal and external auditors, on the one hand, and the Board of Directors, on the other.

 




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