Cupboard appoints new “financial sages”

Berlin (dpa) – Germany’s Federal Cupboard has appointed new financial consultants. The economist Martin Werding and the monetary market professional Ulrike Malmendier are the brand new members of the five-member Council of Financial Consultants, as introduced by the Ministry of Economics. The members of the German Council of Financial Consultants are colloquially known as “financial sages”.

Economics Minister Robert Habeck (Greens) described Malmendier as a world-renowned behavioural economist and stated that this was the primary time {that a} professor from a high US college had been appointed to the Council of Financial Consultants. Werding, he added, is a confirmed professional on labour and social coverage in addition to on public finance. Malmendier teaches on the College of Berkeley in California (USA). In accordance with the ministry, she would be the first member of the Council of Consultants to concurrently maintain a professorship exterior Germany. Werding is a professor of social coverage and public finance at Ruhr-Universität Bochum. For the primary time, ladies will now be within the majority on the Council of Financial Consultants.

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