Key figures behind the establishment of the National Bank of Czechoslovakia

The first independent central bank could not have been created without the efforts of numerous individuals who contributed to drafting legislation, engaging in international and domestic negotiations and subsequently managing the newly established bank. The key figures behind the establishment of the National Bank of Czechoslovakia included Alois Rašín, Vilém Pospíšil, Karel Engliš and Augustin Novák.

Vilém Pospíšil

Vilém Pospíšil

(5 March 1873 – 27 November 1942)

Czechoslovak economist and the first governor of the National Bank of Czechoslovakia 1926–1934

Vilém Pospíšil graduated from the Faculty of Law at the Czech Charles-Ferdinand University in Prague and later joined the Městská spořitelna Pražská savings bank, where he gradually worked his way up to the position of Managing Director. After the establishment of Czechoslovakia, he became Chairman of the Union of Czechoslovak Savings Banks. He also represented savings banks at the international level. During World War I, he was active in the anti-Austrian resistance and, on 28 October 1918, he helped the National Committee take power. 

In close cooperation with Alois Rašín, Pospíšil played a significant role in preparing the currency separation. After the Banking Office of the Ministry of Finance was established, he became Deputy Chairman of its Banking Committee and was later appointed the first governor of the National Bank of Czechoslovakia. He resigned from this post following the devaluation of the Czechoslovak koruna in 1934. He subsequently served as minister plenipotentiary for international economic affairs and held senior positions on the management boards of many Czechoslovak firms.