Alexander Stubb has been appointed vice-president and member of the management committee of the European Investment Bank (EIB).
Prior to becoming EIB Vice-President, Stubb served as prime minister, finance minister, foreign minister, trade and Europe minister of Finland.
Stubb succeeds Jan Vapaavuori, who had tendered his resignation in June.
Stubb, a Finnish national, was appointed by the EIB’s board of governors on a proposal from the Finance Minister of the Republic of Finland and with the agreement of the shareholder constituency formed also by Austria, Estonia, Latvia, Lithuania and Sweden.
In the Bank’s Management Committee, Stubb will have the oversight of EIB operations in Denmark, Estonia, Finland, Latvia, Lithuania and Sweden and in several countries outside the European Union.
Stubb commented upon joining the EIB: “I am thrilled to be joining the EIB and look forward to putting my experience at the service of its continuing success. Because the EIB is a European success story: it fosters investment in viable projects, helps make Europe more competitive worldwide and puts money and people to work. It has been called to tackle the historic difficulties that face Europe as a whole, and it has demonstrated that it could deliver and rise to the challenge. I am proud to being given the opportunity to work for the EU bank”.