Jacques de Larosière
Photo: Académie de Paris - Education - France, CC BY 4.0, via Wikimedia Commons14

Jacques de Larosière

French civil servant, former IMF managing director (born 1929)

Jacques Martin Henri de Larosière de Champfeu (French pronunciation: [ʒak də laʁozjɛʁ də ʃɑ̃fø]; born 12 November 1929) is a French retired senior civil servant who served as the president of the European Bank for Reconstruction and Development from 1993 to 1998. He previously served as the Governor of the Bank of France from 1987 to 1993.2

From Wikipedia’s article on Jacques de Larosière (this version), CC BY-SA 4.0.

Born Nov 12, 1929.1

About

Before that appointment, he was the sixth managing director of the International Monetary Fund (IMF) from 1978 to 1987.

From Wikipedia’s article on Jacques de Larosière, shared under CC BY-SA 4.0.2

Companies

Early life and education

  • 1950Paris Institute of Political Studies3
  • 1956 to 1958École nationale d'administration3
  • Date not recordedLycée Louis-le-Grand3

De Larosière descends from Joseph Thebaud. He studied at Lycée Louis-le-Grand and Institut d'Études Politiques de Paris. He graduated from École nationale d'administration in 1958 and entered the elite French Finance Ministry internal inspectorate known as the Inspection générale des finances.

From Wikipedia’s article on Jacques de Larosière (this version), CC BY-SA 4.0.

Career

Occupation: civil servant, banker, jurist, economist, official.8

  • 1993 to 1998President, European Bank for Reconstruction and Development6
  • 1993 to 1998Chair, European Bank for Reconstruction and Development7
  • 1987 to 1993Governor of the Banque de France6
  • 1978 to 1987Chief executive, International Monetary Fund5
  • 1978 to 1987Managing Director of the International Monetary Fund6
  • 1974 to 1978General director of the Treasury6
  • Date not recordedWorked at Inspection générale des finances4

Career in government

From 1965 to 1974, de Larosière worked at the Directorate of the Treasury within the French Finance Ministry. He then briefly joined the private office (cabinet) of Finance Minister Valéry Giscard d'Estaing, and following the latter election as French President, was appointed Director of the French Treasury in 1974, a position he held for the next four years.

Career in international finance

De Larosière served as the Managing Director of the International Monetary Fund (IMF) from 17 June 1978 to 15 January 1987.

From 1987 to 1993 he was the Governor of the Banque de France.

After successfully competing against Giuliano Amato, Leszek Balcerowicz and Henning Christophersen to become the European Union's nominee for the post, de Larosière became President of the London-based European Bank for Reconstruction and Development in September 1993. His appointment came in the wake of the scandals that led to the departure of the EBRD's first president, Jacques Attali. He left this position in 1998 after restoring the bank's reputation and credibility.

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Later career

In 1992 Larosière became a member of the Washington-based Group of Thirty. In 2000 he co-created Eurofi and became its co-chair together with Daniel Lebègue, then sole chair from 2011 to 2016.

In the wake of the Bankruptcy of Lehman Brothers, European Commission President José Manuel Barroso asked de Larosière to lead a high-level group that in February 2009 produced a landmark report, known as the "De Larosière Report" and recommending a broad overhaul of the European Union financial regulatory architecture. The Report's suggestions were adopted in EU legislation enacted in 2010 that created the European Banking Authority, the European Insurance and Occupational Pensions Authority, the European Securities and Markets Authority, and the European Systemic Risk Board.

As of 2021 he remains Chairman of the Strategic Committee of the French debt management office, the Agence France Trésor, and advisor to BNP Paribas.

From Wikipedia’s article on Jacques de Larosière (this version), CC BY-SA 4.0.

Personal life

  • BornNov 12, 1929, Paris9
  • CitizenshipFrance10

Awards

  • 2025Grand Cross of the Legion of Honour11
  • 2018Grand Cross of the National Order of Merit11
  • 2013Grand Officer of the Legion of Honour11
  • Date not recordedOrder of Friendship11

Sources

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