Gerrit Zalm

Zalm studied Economics at the Vrije Universiteit Amsterdam, obtaining a Master of Economics degree, and worked as a civil servant for the Ministry of Finance, the Ministry of Economic Affairs and the Bureau for Economic Policy Analysis from June 1975 until August 1994, and as a professor of Political economy at his alma mater from January 1990 until August 1994. After the 1994 general election, Zalm was appointed Minister of Finance in the Kok I cabinet, taking office on 22 August 1994. After the 1998 general election, Zalm continued his position in the Kok II cabinet. In the 2002 general election, Zalm was elected to the House of Representatives on 23 May 2002. Shortly after the election, party leader and parliamentary leader Hans Dijkstal announced he was stepping down and Zalm was unanimously selected as his successor as leader on 16 May 2002, and became parliamentary leader on 23 May 2002. For the 2003 general election, Zalm served as lead candidate, and following a successful cabinet formation that formed the Balkenende II cabinet was appointed as Deputy Prime Minister of the Netherlands and Minister of Finance, taking office on 27 May 2003. On 27 November 2004 Zalm announced he was stepping down as party leader in favor of and parliamentary leader Jozias van Aartsen. The Balkenende II cabinet fell on 30 June 2006 and was replaced by the caretaker Balkenende III cabinet, with Zalm continuing his offices. In August 2006, Zalm announced his retirement, stating he would not stand for the 2006 general election.

Zalm retired from active politics at 54 and became active in the private sector as a corporate director, and worked as a banker for the DSB Bank, Fortis Bank and ABN AMRO from July 2007 until February 2017. Following his retirement Zalm became active in the public sector as a non-profit director and served on several state commissions and councils on behalf of the government, and worked as an occasional mediator for coalition agreements. Zalm is known for his abilities as a skilful manager and effective debater and as of 2026 continues to comment on political affairs. He holds the distinction as the longest-serving Minister of Finance, with 11 years and 240 days, in Dutch history.