Jean-Claude Trichet is new Chairman of the Group of Thirty Jacob A. Frenkel becomes Chairman of the Board of Trustees

Washington, DC (PRWEB) November 22, 2011

The Group of Thirty (G30) today announced that Jean-Claude Trichet, former President of the European Central Bank, will become the next Chairman of the Group of Thirty (G30), the international forum of public and private sector financial leaders.

Mr. Trichet succeeds Dr. Jacob A. Frenkel, Chairman of JPMorgan Chase International and former Governor of the Bank of Israel, who has headed the G30 since 2000. Dr. Frenkel will now become Chairman of the Board of Trustees, succeeding Paul A. Volcker, former Chairman of the Board of Governors of the Federal Reserve System. Mr. Volcker becomes Chairman Emeritus of the G30.

Mr. Trichet stated: This is a time of exceptional challenges to the global economic and financial system, and the G30 will continue to make significant contributions to the policy debate and enhance understanding of the critical paths to stability and to economic growth.

Mr. Trichet added: I am delighted to step up to the chairmanship of the G30 after having been a member of the Group for many years. I look forward to working closely with the Trustees and with my fellow G30 colleagues. I want to underscore the deep appreciation that all the members of the G30 express to Jacob Frenkel, who has led the Group with great distinction and vigor for more than a decade.

Dr. Frenkel commented: It is an honor for me to assume the responsibilities of the Chairman of the Board of Trustees of the G30. I am delighted to pass the baton of the chairmanship of the G30 to our esteemed friend Jean-Claude and wish him great success. I also wish to convey great thanks on the part of all the members of the G30 for Paul Volckers many years of dedicated leadership. We all owe him a great deal. Our organization serves both as a think-tank on major financial and economic issues and as a forum where leaders can exchange views on the major policy issues that the world economy confronts. Since its founding in 1978, the participation in the G30 of senior central bankers and government officials, together with leaders of private finance and academia, has made major contributions to public understanding and the policy debate.

The G30, formally known as The Consultative Group on International Economic and Monetary Affairs, Inc. is a private, non-profit, international organization. For a list of members, please visit: http://group30.org/members.shtml

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