Olaf Sleijpen, 54, has been appointed as the new president of De Nederlandsche Bank (DNB), the Dutch central bank. The appointment, made by the outgoing cabinet, positions Sleijpen as a key figure in maintaining stability and confidence in the European monetary system amidst geopolitical uncertainty. He will succeed Klaas Knot on July 1.

Sleijpen’s responsibilities will include navigating the complexities of interest rate policies, the potential introduction of euro bonds, and the necessary financial buffers for banks, countries, and citizens. These issues often involve politically sensitive discussions between the cabinet and the central bank.

Sleijpen’s selection follows weeks of speculation and anticipation within the financial community. While names like AFM chief Laura van Geest, former minister Jeroen Dijsselbloem, and ABN-economist Sandra Phlippen were considered, Sleijpen, alongside Gita Salden, was consistently viewed as a frontrunner.

Sleijpen is considered a “real DNB person,” having spent much of his career within the institution. He joined DNB after graduating cum laude and was mentored by former president Nout Wellink. He also served as an advisor to Wim Duisenberg at the European Central Bank. Before returning to DNB in 2011, he worked at pension fund ABP and held a part-time professorship at Maastricht University.

Prior to his appointment, Sleijpen served as Director of Monetary Affairs at DNB, a role that has provided him with valuable experience in navigating crises. He is also known as a strong advocate for the LGBTQI community and a member of the VVD party, although he has distanced himself from active involvement since joining the DNB board.

While some within DNB believe Sleijpen may be inclined to avoid conflict on certain issues, he is generally regarded as an intelligent economist and approachable leader. Writer Arnon Grunberg, who spent time shadowing DNB, has expressed fascination with Sleijpen’s personality and leadership style.