The European Bank for Reconstruction and Development has appointed German deputy finance minister Thomas Mirow as its new president. Mirow becomes the bank's fifth president replacing Jean Lemierre, who steps down in July after two four-year terms. The bank was formed in 1991 to help former communist nations in Europe and central Asia adopt market economies.
Born in Paris, 55-year-old Mirow is the second German president in the 17-year history of the EBRD. The previous German to head the bank was Horst Köhler, who is now the President of Germany.
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