Leading often fraught negotiations on the Basel III proposals for new banking requirements, which some thought might never be concluded, the Dutch central banker is credited with helping to lay the foundations of a new global regulatory architecture. He tops the GFS Power 50 for 2010.
Draghi has had to balance his chairmanship of the Financial Stability Board with an equally challenging day-job governing the central bank of Italy. With a series of dramatic FSB proposals, Draghi’s stock has surged in 2010, placing him runner-up in the GFS Power 50.
With a year behind him bailing out stricken EU countries, battling financial markets and pushing for changes to financial governance, 2010 marked Jean-Claude out as more of a Van Damme than a Trichet. The central banker ranks third in the GFS Power 50.
Barney Frank, former Chairman of US House Financial Services Committee
Tuesday 18 Jan 2011 | Nicola York
Known for his quick-wit, the Democrat heavyweight was once described as one of the most powerful members of Congress – a reputation sealed in 2010 by his role as the lead legislator on the Dodd-Frank Bill. He comes fourth in the GFS Power 50.
Angela Merkel, Chancellor of Germany
Monday 17 Jan 2011 | Andrew Hickley
The ‘Iron Frau’ has been at the centre of the biggest discussions, decisions and disagreements of European financial governance over the past year, placing her fifth in the GFS Power 50.
Barack Obama, US President
Monday 17 Jan 2011 | Nicola York
President Obama has been a key figure in overhauling US financial regulation as well as a formidable presence on the world stage at the G20. He comes sixth in the GFS Power 50.
Hu Jintao, President of China
Monday 17 Jan 2011 | Will Henley
The Paramount Leader of the People’s Republic of China retains an iron grip on policy and has been at the forefront of demanding changes to the international financial system. He comes seventh in the GFS Power 50.
Dominique Strauss-Kahn, IMF Managing Director
Friday 14 Jan 2011 | Will Henley
The Frenchman was very much the man of the moment in 2010, boosting his institution’s power base and coming to the rescue of European nations. The International Monetary Fund managing director reaches 8th in the GFS Power 50.
Michel Barnier, EU Internal Market and Services Commissioner
Friday 14 Jan 2011 | Andrew Hickley
A former authority in French agriculture, Michel Barnier has been involved in driving through a plethora of financial regulations to promote the European single market over the past year. He comes 9th in the GFS Power 50.
Timothy Geithner, US Treasury Secretary
Thursday 13 Jan 2011 | Andrew Hickley
Being in a top job opens you up to criticism and Geithner has had his fair share. But this hasn’t affected his dogged determination and he has been a key driver of financial reform this year. Geithner is at number 10 in the GFS Power 50.
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