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German central bank names new head of bank supervision

Joachim Wuermeling will become head of banking and financial supervision at the German central bank following a recent reshuffle of responsibilities in the bank's executive board.

The change was made as two new members, Sabine Mauderer and Burkhard Balz, joined the board, the Deutsche Bundesbank said Sept. 4.

Mauderer will head the human resources and markets departments of the central bank, while Balz will be responsible for payments and settlement systems, economic education, applied sciences and the international central bank dialogue.

Wuermeling, who joined the central bank in November 2016, will keep his existing responsibility of handling the bank's IT affairs.