Dr Ackermann today announced that he will be stepping down from his Institute of International Finance (IIF) position on June 6, 2012, at the time of the Institute's Spring Membership Meeting in Copenhagen. Douglas Flint of HSBC is to become the next Chairman of the Institute's Board of Directors.
Dr Ackermann, who has served as the IIF’s Board Chairman since mid-2003, said: “I am delighted to announce on behalf of the IIF’s Board of Directors that my successor next June will be Douglas Flint, Group Chairman of HSBC Holdings plc. Our Board has appointed him as an IIF Vice Chairman and elected him as Chairman-designate with immediate effect”.
The IIF’s Board of Directors announced that Mr Walter B Kielholz, Chairman of the Board of Directors, Swiss Reinsurance Company Ltd, has been appointed as a Vice Chairman of the IIF Board of Directors representing the insurance sector. Further, it announced that Mr Marcus Wallenberg, Chairman of the Board of SEB, will remain as the IIF Board Treasurer and has been appointed as Vice Chairman-designate and will take up this position effective June 6, 2012. Mr Francisco González, Chairman and CEO, BBVA, is stepping down from his position as Vice Chairman of the IIF Board of Directors, while remaining on the Board as a Director.
In sum, the leadership of the IIF Board of Directors as of June 6, 2012, will be Mr Flint, Group Chairman of HSBC Holdings plc, as Chairman; Mr Kielholz, Chairman of the Board of Directors, Swiss Reinsurance Company Ltd, Mr Setubal, President & CEO, Itaú Unibanco Banco S/A, Mr Waugh, President and CEO, Scotiabank, and Mr Wallenberg, Chairman of SEB, as Vice Chairmen; with Mr Wallenberg also serving as Treasurer.
Press release
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