Jiří Rusnok appointed a CNB Board member

Jiří Rusnok is to become a member of the CNB Bank Board. He was appointed to the supreme governing body of the CNB today by President of the Czech Republic Miloš Zeman for a six-year term with effect from 1 March 2014.

Jiří Rusnok (53) will replace Eva Zamrazilová, whose six-year term expires on 28 February 2014.

“I would like to use my work at the CNB to maintain and increase the credibility of the central bank both at home and abroad. I believe that in my work on the CNB Board I will benefit from my long experience of working in the state administration and in an international financial group,” said Jiří Rusnok.

The Bank Board is the supreme governing body of the central bank and its main duties include taking decisions on monetary policy, on measures in the financial market supervision area and on the issuance of banknotes and coins.

The Bank Board consists of seven members. In the current line-up, Miroslav Singer is CNB Governor, Mojmír Hampl and Vladimír Tomšík are Vice-Governors, and Lubomír Lízal, Kamil Janáček, Pavel Řežábek and Eva Zamrazilová are the other board members. Bank Board members are appointed for a term of six years and are not allowed to hold the position of member of the Bank Board more than twice.

CNB Communications Department

Jiří Rusnok’s CV

Born on 16 October 1960 in Prague. Jiří Rusnok graduated from the Faculty of Economics at the University of Economics, Prague in 1984. He began his career in 1984 in the department of long-term outlooks at the State Planning Commission. Later he worked at the Federal Ministry for Strategic Planning as head of the Social Strategy Section and was employed for a short time at the Federal Ministry of Labour and Social Affairs. From 1992 to 1998 he served as an adviser and head of the Social-Economic Department of the Czechoslovak Confederation of Trade Unions. From August 1998 he held the position of Deputy Minister of Labour and Social Affairs, and from April 2001 to July 2002 he was Czech Minister of Finance. Between July 2002 and March 2003 he served as Czech Minister of Industry and Trade. From May 2003 to June 2013 he worked in the management of the insurance section of ING’s branch for the Czech Republic and Slovakia. In 2005–2012 he served as President of the Association of Pension Funds of the Czech Republic. At the same time, he was Chairman of the Board and General Director of ING PF, a.s. From 2006 to 2009 he was Chairman of the Committee for the Financial Market, an advisory body to the Czech National Bank Board. In 2009–2013 he was President of the Audit Public Oversight Council. In 2010–2013 he was a member of the government’s National Economic Council (NERV). From 25 June 2013 to 29 January 2014 he served as Prime Minister of the Czech Republic. He is married with three children.