1982, graduate in Economics, University of Konstanz; 1987, PhD, University of Siegen. 1982-88, Research Assistant, Monetary Economics, University of Siegen; 1989-92, Research Assistant, Department of Economics and 1994, Habilitation in Economics, University of Siegen; 1994-98, Professor of Economic Theory, Rheinische Friedrich-Wilhelms University, Bonn; 1998-2001, Professor of Applied Monetary Economics, Johann Wolfgang Goethe University, Frankfurt; 1998-2002, Director, Centre for Financial Studies, Frankfurt; 2001-04, Professor of International Economics, University of Cologne; 2004-11, President, German Bundesbank, serving as Member of the Governing Council, ECB and Member of the Board of Directors, BIS, German Governor, IMF, and Member, G7 and G20 Ministers and Governors. Since 2012, Chairman, UBS.