Published: March 23, 2010
Turkish bank hires former IMF MD and Spanish finance minister.
Turkey’s Akbank has named Rodrigo de Rato y Figaredo, former managing director of the International Monetary Fund and Spain’s former finance minister and vice president, as the newest member of its international advisory board.
Rato joins a 12-strong non-executive body that discusses global financial and economic developments, how they affect Turkey and then gives the bank’s management its perspective on the implications.
Other board members include Sir Win Bischoff, chairman of the UK’s Lloyds Banking Group, Dani Rodrik, a professor of international political economy at Harvard University, and several board members of the bank itself.
Rato was managing director of the IMF between 2004 and 2007. Previously, he had been vice president for economic affairs and finance minister for the Spanish government, from 1996.