Konjunktur
Former Members

Former members of the ECB Shadow Council

(Biographical information reflects the status at departure from the Shadow Council and is not updated thereafter)

Joachim Fels (11/2002 - 5/2008)
is co-head (with Richard Berner) of global economics research at Morgan Stanley. He was a founding member of the ECB Shadow Council, which he left in May 2008 upon the expiration of his term. » More


Thorsten Polleit (11/2002 - 5/2008)
joined Barclays Capital in October 2000 as an economist. Before that, he worked for ABN AMRO in Frankfurt, London and Amsterdam. In 2000, he founded ECB Observer, an independent ECB watcher group. In 2003, he was appointed Honorary Professor at the HfB – Business School for Finance & Management, Frankfurt. He lectures at the Universities of Hohenheim and Bayreuth on a frequent basis. His research interests are monetary economics and capital market theory. He was a founding member of the ECB Shadow Council and left the group in May 2008 upon the expiration of his term. For more information about Thorsten Polleit see the websites of » ECB Observer and » Hfb.

Luigi Buttiglione (11/2006 - 4/2008)
is a Managing Director and Head of G-10 Economics within Fortress Investment Group. Before joining Fortress, Mr. Buttiglione was Chief Economist of Rubicon Fund Management LLP (January 2004-February 2007). Previously, Mr Buttiglione was Chief Strategist at Blue Crest Asset Management, Head of European Economics at Barclays Capital (2001-2003), Senior Economist at Deutsche Bank (2000) and a senior economist at Banca d'Italia (1989-1999 - Head of Inflation Analysis and Deputy Head of Monetary Analysis). While at Banca d’Italia, he was a member of the Working Group of Forecasting of the Eurosystem of Central Banks. Mr Buttiglione also taught Monetary Economics at the University Cattolica of Milan and at the University of Bologna. He joined the ECB Shadow Council in November 2006 and left in April 2008 upon leaving his position at Fortress.

Michael Heise (11/2002 - 1/2008)
is Chief Economist of Allianz Group and Dresdner Bank in Frankfurt. Until 2002 he worked in the same position for DG Bank (today named DZ Bank). He teaches economics at the University of Frankfurt and at the European Business School in Oestrich-Winkel. He was Secretary General of the Council of Economic Advisors to the German Government (Sachverständigenrat). His PhD in economics is from the University of Köln. He was a founding member of the ECB Shadow Council, which he left in January 2008 upon the expiration of his term.

José Luis Escrivá (8/2004 - 1/2008)
is Chief Economist of the BBVA Banking Group. Prior to that, he was deeply involved in the Monetary Union integration process, first from the Bank of Spain and later on from the European Monetary Institute and the ECB. Between 2000 and 2003, he was Head of the ECB Monetary Policy Stance Division. He has been a consultant for the IMF and the United Nations. He joined the ECB Shadow Council in August 2004 and left in January 2008 upon the expiration of his term.

André Sapir (9/2005 - 5/2007)
is Professor of Economics at the Université Libre de Bruxelles (ULB) and Senior Fellow at the Brussels European and Global Economic Laboratory (BRUEGEL). Until January 2005, he worked 12 years for the European Commission, first serving as Economic Advisor to the Director-General for Economic and Financial Affairs. Between 2001 and 2004, he was an Economic Advisor to President Romano Prodi and Executive President of his Economic Analysis Group.

Philip Lane (1/2005 - 5/2007)
Philip R. Lane is Professor of International Macroeconomics and Director of the Institute for International Integration Studies (IIIS). He received a doctorate in Economics at Harvard University in 1995 and was an Assistant Professor of Economics and International Affairs at Columbia University during 1995-1997 before joining TCD in 1997.

John Llewellyn (11/2002 - 1/2007)
is Senior Economic Policy Advisor for Lehman Brothers in London. Before taking on this position in 2006 he was the bank's Chief Economist. He spent 17 years working for the OECD, where he was (amoung other positions) Head of the Secretary-General’s Private Office (Chief of Staff).
» personal Homepage of John Llewellyn

Francesco Giavazzi (11/2002 - 12/2006)
is professor of economics at Bocconi University in Milan and a regular visiting professor at MIT. He is a research fellow and a trustee of CEPR in London, a research associate of NBER in Cambridge (Mass) and a member of the economics panel of the Brookings Institution in Washington. He is a member of the Strategic Committee of the French Treasury,
» Homepage of Francesco Giavazzi

Paul De Grauwe (11/2002 - 10/2006)
is professor of international economics at the University of Leuven. He has been a member of the Belgian parliament from 1991 to 2003, and a member of the Group of Economic Policy Analysis advising President Barroso. He was a founding member of the ECB Shadow Council.He left the group to take up the ECB spnsored Duisenberg fellowship.
» Homepage of Paul De Grauwe

Patrick Mange (11/2003 - 7/2006)
left the Shadow Council to concentrate on his responsibilties as Head of Research & Strategy at the Asset Management arm of BNP Paribas. He had previously worked in similar positions at Merrill Lynch and Deutsche Bank.

Marko Skreb (11/2003 - 2/2006)
left the ECB Shadow Council to concentrate fully on his consulting missions as Central Bank Adviser for the International Monetary Fund. In 2007 Mr. Skreb became Chief Economist and Strategist of Privredna Banka Zagreb. Before working for the IMF Professor Skreb had been Governor of the Croatian Central Bank (1996 to 2000). He was teaching Macroeconomics at the University of Zagreb until 1996. He has published numerous articles and edited books, on, among other topics, financial crises and transition economics.

David Walton (11/2002 - 5/2005)
left the ECB Shadow Council and his position as European Chief Economist of Goldman Sachs upon being appointed member of the Monetary Policy Committee of the Bank of England.

Martin Hüfner (11/2002 - 3/2005)
left the ECB Shadow Council upon his retirement from his position as Chief Economist of HypoVereinsbank in Munich.



Lucrezia Reichlin (9/2004 - 11/2004)
left the EDB Shadow Council upon being apponted Director General Research of the European Central Bank (ECB). Before joining the ECB she taught economics at the Université Libere de Bruxelles. She was also head of the Scientific Committte of the Euro Area Busniess Cycle Network and Chair of CEPR's Busniness Cycle Dating Committtee.

Juan Jimeno (11/2002 - 6/2004)
left the ECB Shadow Council upon being apointed head of research of the Bank of Spain. Before this, he was a professor of economics at the Universidad de Alcaláde Henares in Madrid.

Jürgen von Hagen (11/2002 - 6/2004)
is a full professor of economics at the University of Bonn. He is a member of the ECB watchers group EMU Monitor.

Patrick Artus, (11/2002 - 10/2003)
is chief economist of the Paris based Ixis Corporate and Investment Bank. He also teaches economics at Ecole Polytechnique and at the Sorbonne.

Sushil Wadhwani (11/2002 - 10/2003)
was a member of the Monetary Policy Committee of the Bank of England from 1999 to 2002. Earlier he had held positions as Director of Research and Head of Syystems Trading at the hedge fund Tudor Group, as Director of Equity Strategy at Goldman Sachs and professor at the London School of Economcs. In 2003 he founded the hedge fund Wadhwani Asset Management.

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