International

De Nederlandsche Bank names new executive director

Else Bos was named executive director and chairwoman for prudential supervision at Dutch financial watchdog De Nederlandsche Bank.

Ms. Bos' appointment, effective July 1, 2018, was made at the recommendation of the supervisory board and in consultation with the governing board of the DNB, said a news release on its website Tuesday. She has been appointed by royal decree for a seven-year term.

Ms. Bos will replace Jan Sijbrand and will begin a two-month induction period at the DNB on May 1, 2018, at which time she will "familiarize herself with DNB's tasks and discuss the details of her new position with the present chair for prudential supervision."

Ms. Bos will be responsible for supervision policy, covering pension funds and insurance.

"She has an impressive track record in the financial sector, functioning at the executive board level over the past 12 years," said Wim Kuijken, chairman of DNB's supervisory board, in the news release. "She is an influential figure with a broad and international network."

Ms. Bos will step down Nov. 1 from her current position as CEO of €205 billion ($234 billion) pension provider PGGM. PGGM announced her resignation in May and said at the time that the supervisory board was preparing for a successor. A spokesman for PGGM could not immediately be reached for comment.