Jacques de Larosière is new Managing Director
Mr. Jacques de Larosière de Champfeu, of France, has been appointed Managing Director and Chairman of the Board of Executive Directors of the International Monetary Fund. He assumed his duties at the Fund on June 17, 1978, succeeding Mr. H. Johannes Witteveen, of the Netherlands, whose service ended on June 16, 1978.
Mr. de Larosière, 48, was Director of the French Treasury since 1974. He represented his Government at many international conferences as well as on the boards of major industrial and financial concerns. Education at the University of Paris with degrees in Arts and Law, and at the Political Studies Institute of Paris and National School of Administration preceded his designation as an Inspecteur des Finances in the French civil service.
Following assignments to the French Embassies in London (1962) and in Algeria (1963), Mr. de Larosière joined the Department of External Finances in the Ministry of Economy and Finance in 1963. He was subsequently transferred to the Treasury where he became Assistant Director in 1967 and Deputy Director in 1971. While on these assignments, he chaired the Economic Development Review Committee of the Organization for Economic Cooperation and Development (OECD) and was in charge of the development assistance programs managed by the Ministry of Economy and Finance. He was Personal Assistant and Director of the Cabinet Office of Mr. Valéry Giscard d’Estaing, Minister of Economy and Finance, January-May 1974.
Alternate Governor of the Fund for France since 1974, Mr. de Larosière has participated in the work of the Committee of Twenty on International Monetary Reform and the Interim Committee, as well as in that of the Development Committee on the Transfer of Real Resources to Developing Countries. He has been Chairman of the Deputies of the Group of Ten since September 1976, and has served on Economic Policy and Development Assistance Committees of the OECD.
Mr. de Larosière has represented the French Government on the Boards of Règie Nationale des Usines Renault, Banque National de Paris, Compagnie Nationale Air France, Société Nationale des Chemins de Fer Français, Soctété Nationale Industrielle Aérospatiale, Caisse Nationale des Télécommunications, Banque de France, Crédit National, Comptoir des Entrepreneurs, and Crédit Foncier de France.