Jörg Asmussen
| Jörg Asmussen | |
|---|---|
Jörg Asmussen, March 2012
|
|
| Born |
31 October 1966 Flensburg, West Germany |
| Nationality | German |
| Institution | European Central Bank |
| Alma mater |
University of Bonn Bocconi University |
Jörg Asmussen (born 31 October 1966) is a German economist and politician. He previously served as State Secretary at the Federal Ministry of Labour and Social Affairs, as a member of the executive board of the European Central Bank (ECB) and as Deputy Finance Minister of Germany.
Asmussen has been a member of the Social Democratic Party of Germany since 1987.
Asmussen earned a master's degree in Business Administration, Bocconi University in 1992 and a Diplom degree in Economics, University of Bonn in 1994. In Bonn, he studied under Manfred J. M. Neumann and Axel A. Weber alongside Jens Weidmann, among others.
After two years (1994–96) at the Institut für Sozialforschung und Gesellschaftspolitik in Cologne, Asmussen held a succession of positions in the German Federal Ministry of Finance.
As a financial advisor of the coalition government 2005–2009 and as the Finance Ministry's representative for True Sale International, an association of banks and financial service interest groups in Germany, Asmussen supported bank deregulation and an extension of the market of asset-backed securities (ABSs). Some sources highlighted his role in the run up to financial crisis of 2007. Whilst at the Ministry, Asmussen was responsible for the German Federal Financial Supervisory Authority (Bafin) at the time when the Düsseldorf based IKB Deutsche Industriebank had to be restructured — mainly due to ABS investments. Asmussen was member of the supervisory board of that bank at that time (2007).
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