Governing Board

The day-to-day management of the De Nederlandsche Bank (DNB) rests with the Governing Board, consisting of a President and up to five Executive Directors. Governing Board members are appointed by the Crown, for seven-year tenures.


Klaas Knot

Klaas Knot

Professor Klaas H.W. Knot has been President of De Nederlandsche Bank since July 1st, 2011. In this capacity he is a member of the Governing Council and the General Council of the European Central Bank, member of the European Systemic Risk Board, Governor of the International Monetary Fund, Governor of the Bank for International Settlements and also member of its Board of Directors.

In addition to his duties as President of De Nederlandsche Bank, he serves as Vice Chair of the Financial Stability Board and Chair of its Standing Committee on the Assessment of Vulnerabilities.

Knot holds several secondary positions. He is Chairman of the Supervisory Boards of the Teylers Museum and the CliniClowns Foundation. Since 2005, he has been Honorary Professor of Economics of Central Banking at the University of Groningen and since 2015 he is also Honorary Professor of Monetary Stability at the University of Amsterdam. Knot has published several articles in leading (international) journals in monetary and financial economics.

Before taking up DNB’s presidency, Knot was Deputy Treasurer-General and Director of Financial Markets at the Dutch Ministry of Finance (2009-2011). Between 1995 and 2009 he held several positions at DNB, the Pension and Insurance Authority (2003-2004) and the International Monetary Fund (1998-1999).

In 1991, he graduated with honours in economics at the University of Groningen. In 1995, he obtained his PhD in economics.

Born: 14 April 1967, Onderdendam

Else Bos

Else Bos

Else Bos joined the Governing Board on 1 July 2018 as Executive Director and Chair for Prudential Supervision. Her responsibilities include Insurance Supervision, Pension Supervision and Supervision Policy. She represents DNB on the Board of Supervisors of EIOPA, the European Insurance and Occupational Pensions Authority.

Else Bos holds several secondary positions. Since 2017, she has been a Trustee of the IFRS Foundation. She is also a Supervisory Board member of the Dutch National Opera & Ballet (since 2012).

Prior to joining DNB's Governing Board, Else Bos was the CEO of pension provider PGGM (2013-2017). She also held various other board positions at PGGM, such as Chief Institutional Business (2010-2013), Chief Executive Officer Investments (2005-2009) and COO Investments (2002-2005). Prior to this, she worked for NIB Capital Asset Management, ABN AMRO, ABN and Pensioenfonds Esso. She started her career at Unilever.

Else Bos studied econometrics at Erasmus University Rotterdam.

Born: 24 November 1959, Rotterdam.

Frank Elderson

Frank Elderson

Frank Elderson has been an Executive Director of Supervision at DNB since 1 July 2011. He is responsible for supervision of banks, supervision of horizontal functions and integrity, and legal affairs. He is a member of the Supervisory Board of the European Central Bank.

Frank Elderson holds several secondary positions. He has chaired the Central Banks and Supervisors Network for Greening the Financial System (NGFS) since 2018 and the Sustainable Finance Platform since 2016. He has also chaired the FEC Board since 2016, the Supervisory Board of the Dutch Reading Foundation since 2017 and the Management Board of the Nederlands Vioolconcours Foundation since 2016.Before joining the Governing Board, Frank Elderson served as DNB's General Counsel (2008-2011). He was the Director of the Legal Services Division (2007) and Head of the ABN AMRO Supervision Department (2006).

After joining DNB in 1999, Frank Elderson held various management positions in the Legal Services Division, as well as representing DNB on various working groups of the European System of Central Banks (ESCB). Frank Elderson started his professional career in 1995 as a lawyer with Houthoff Advocaten & Notarissen.

He completed the first year of the Dutch law university programme with honours in 1990 and studied at the University of Zaragoza, Spain, in 1993 and 1994. Elderson earned his degree in Dutch law at the University of Amsterdam in 1994. He obtained an LLM degree from Columbia Law School, in the United States, in 1995. Frank Elderson was sworn in as a lawyer in the Netherlands in 1995.

Born: 18 May 1970, Utrecht.


Job Swank

Directeur Swank

Professor Job Swank has been Executive Director of Monetary Affairs and Financial Stability since 1 December 2011. He is responsible for economic policy and research, financial stability, financial markets, payments and statistics.

Job Swank holds several secondary positions. He has been Professor of Economic Policy at the Erasmus University Rotterdam since 2002 and is a Crown-appointed member of the Social and Economic Council of the Netherlands. Job Swank has published a range of articles in domestic and international economic journals.

Before joining the Governing Board, he was Director of DNB's Economic Policy and Research Division (2006-2011). He previously held various management positions, including at the Department of Economic and Monetary Policy, which he joined as an economist in 1987. Job Swank started his career as a lecturer in macroeconomic policy at Erasmus University Rotterdam. He also worked at the Ministry of Housing, Spatial Planning and the Environment.

Job Swank studied economics at Erasmus University Rotterdam. He obtained his PhD in economics at VU University Amsterdam in 1994.

Born: 13 November 1955, Breukelen.

Nicole Stolk

Nicole Stolk

Nicole Stolk has been Executive Director of Resolution since 1 July 2018. She is responsible for the deposit guarantee scheme and the resolution of failing banks and, in due course, insurers. In her capacity as the Head of the National Resolution Authority (NRA) she has a seat on the Single Resolution Board (SRB) and the Resolution Committee European Banking Authority (EBA).

Furthermore, Nicole Stolk is responsible for internal operations, including HR, ICT, finance, Audit, second line risk management, procurement and communications (560 FTEs)

Nicole Stolk holds several secondary positions. She is a member of the Supervisory Board of the Weerwolf foundation (housing for people with acquired brain injury) and board member of the VUmc Cancer Center Amsterdam Foundation.

Prior to joining the Governing Board, Nicole Stolk was Secretary-Director at DNB (2016-2018). Before that time, she was the Deputy Secretary General at the Ministry of Security and Justice (2012-2016). Between 2007 and 2012, Nicole Stolk worked at the Ministry of the Interior and Kingdom Relations as director HR, Information Technology, Strategy and Governance. She was a senior manager at Deloitte and Touche in 2002-2003. Nicole Stolk started her career as a spokesperson at the Ministry of Health and Culture (now Health, Welfare and Sports), and held various policy positions (1991-2000).

Nicole Stolk studied history and law at Leiden University.

Born: 16 August 1969, Oosterhout.