Member of the Executive Board of the European Central Bank since June 2011. He started his career as Research Assistant in the Department of Applied Economics and Institute for European Studies, Université libre de Bruxelles (ULB). He served as Economist, International Monetary Fund, Washington D.C. (1978-1980), Professor of economics, ULB (1980-1987), Chief Economist, Générale de Banque, subsequently at Fortis Bank (1987-1999), Chief of Staff of the Belgian Minister of Finance (1999-2000), Executive Director of the Nationale Bank van België/Banque Nationale de Belgique (2000-2011). He holds a PhD in Economics, Université libre de Bruxelles (1980).