Former IASB Member and Auditor Becomes Head of German Financial Authority

Dr. Elke König has been named the new President of the German Federal Financial Supervisory Authority (BaFin). Dr. Wolfgang Schäuble, Federal Minister of Finance, presented her with her certificate of official appointment. Dr. König's term will commence in early January 2012. Previously, Dr. König was a member of the International Accounting Standards Board (IASB). From 2002 to March 2009, she served as CFO of Hannover Rückversicherung AG and E+S Rückversicherung AG, Hanover. From 1990 to 2002, Dr. König was a member of the senior management and head of accounting and financial control of the Munich Re Group. Before entering the reinsurance industry, she was a partner in KPMG’s German audit practice.