Born on 25 November 1960 in Písek. Mr Řežábek graduated in economic and mathematical calculations from the Faculty of Management at the University of Economics in Prague. He received his PhD in economic policy from the Faculty of Economics and Public Administration at the University of Economics, where his research focused on the interaction between monetary and fiscal policy.

He worked as General Director and Chairman of the Bank Board of Konsolidační banka Praha and afterwards as General Director and Chairman of the Board of Directors of the Czech Consolidation Agency. In addition to his post as Chairman of the Supervisory Board of První česko-ruská banka, he was a member of the supervisory boards of other major industrial concerns and financial institutions. He undertook a traineeship at the European Investment Bank in Luxembourg.

He is currently a member of the Board of Trustees of Charles University and of the Scientific Council of the Faculty of Economics and Public Administration at the University of Economics, where he also teaches. He is a member of the International Relations Committee of the European Central Bank. He speaks and publishes on monetary policy, money circulation and payment systems at home and abroad.

Pavel Řežábek was appointed a member of the Bank Board of the Czech National Bank in February 2005. The President of the Czech Republic appointed him for a second six-year term with effect from 13 February 2011.