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Basel chairman tops GFS Power 50 list

Wednesday 19 January 2011 - by GFS staff

Dutch central banker Nout Wellink has topped the GFS Power 50 list of those who have wielded the greatest influence on worldwide financial regulation in the past 12 months.

At number one, the chairman of the Basel Committee on Banking Supervision, Wellink has unveiled game-changing proposals on capital requirements and liquidity for the world's banks.

In second place in the top 50 list, comes Mario Draghi, chairman of the G20-backed Financial Stability Board, which has sought to tighten the leash on the world's financial institutions - especially those deemed too-big-to-fail.

European Central Bank President Jean-Claude Trichet, who has been pivotal in shaping the EU's new financial system and backing up beleaguered EU nations, also made it into the top three, followed by former US Senate Banking Committee chairman Barney Frank and world leaders Angela Merkel, Hu Jintao and Barack Obama.

Other regulatory heavyweights in the top 50 include International Monetary Fund boss Dominique Strauss-Kahn, European Union commissioner Michel Barnier and US Treasury Secretary Timothy Geithner.


GFS News has been counting down the top 50 over the past month and used a range of methods to draw up the list including reader votes, consultations with trade bodies and financial services institutions, and trawling through numerous column inches to see who exercised the most influence in 2010.

In total, 14 Americans make it into the top 50, reflecting not only America's dominance on the world stage but its far-reaching domestic overhaul of financial legislation. Asia's growing influence is marked with 10 entries including three from China.

Despite having seven nationals on the list, Britain's influence seemed to be eclipsed by France, as it could muster only one top 20 placing with Liberal Democrat MEP Sharon Bowles.

France had four of its total five in the top 20, though President Sarkozy missed out. David Cameron, who has taken something of a backseat to Chancellor George Osborne, is also notably absent from the list.

The full list can be found here.


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