Dutch ECB Candidate Gets Lawmakers’ Backing for Board Job

(Bloomberg) -- Frank Elderson overcame European lawmakers’ concerns on gender balance to clinch their backing for his candidacy to join the European Central Bank’s Executive Board.

Members of the European Parliament’s Committee on Economic and Monetary Affairs voted for the appointment following a virtual hearing with the Dutch supervisory official on Monday. While some aired frustration over the lack of a female candidate, others emphasized his qualifications, especially his experience with climate-related topics.

Thirty-three members of the committee voted in favor of Elderson, while 21 were against and three abstained, the parliament said in a statement.

“Frank Elderson is an exceptionally qualified candidate,” said Markus Ferber, a lawmaker with the Conservatives, who form the largest grouping in the parliament. “Even though we cannot be happy with the selection procedures for top central bank posts, it is clear that voting down highly qualified candidates is neither wise nor adequate.”

The result still needs to be confirmed by the Parliament’s full plenary, which is scheduled for later this month. A negative opinion wouldn’t be binding for European governments who have the last word on the appointment, but it could have complicated the filling of top posts at the Frankfurt-based ECB.

Elderson addressed the lack of gender balance in financial institutions in the hearing on Monday, saying he shared lawmakers’ concerns and will seek to prioritize them.

“I intend to actively push this issue if I were to be appointed,” he said.

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