Former Blackrock manager and Young Global Leader appointed Director Internal Audit of the European Central Bank

25 January 2024 | The European Central Bank (ECB) has announced that Banafsheh Geretzki will become the new Director Internal Audit. She was responsible for advising the European Central Bank on financial markets at BlackRock, the world’s largest asset manager, before joining the ECB in 2020 and soon after becoming Head of Division responsible for the supervision of major financial institutions. She has an important additional qualification as a guardian of the interests of large corporations.

According to the ECB’s press release, Geretzki will lead the ECB’s internal audit and investigation activities, including whistleblower procedures. She will also be responsible for relations with other European institutions such as the European Anti-Fraud Office and the European Court of Auditors.

Prior to joining BlackRock in 2015, Ms. Geretzki held various management and investment banking roles at Fortress Investment Group and Morgan Stanley, among others.

She completed her training in Mexico, the USA and at the European Business School in Oestrich-Winkel.

Apparently, the ECB no longer even realizes or cares that such personnel decisions create the impression of exaggerated ties with or even dependency on big finance. The question is: Why would a highly paid BlackRock manager go thorugh the revolving door to the ECB, which pays comparatively well for the public sector but certainly cannot offer the same salary prospects as BlackRock?

Before I forget to mention it: Ms. Geretzki is a Young Global Leader of the corporate lobby World Economic Forum, class of 2014.

She seems to have been removed from the Forum’s alumni lists. This usually happens at the request of the respective alumni. However, her name shows up on a list compiled by Roger Golden Brown in 2022 and with significant effort I was able to find a list of the class of 2014 in the unternet archive Wayback Machine. Her class of apprentices for furthering the interests of global corporations included Ukrainian boxer Wladimir Klitschko and Jacinda Ardern, the later celebrity head of government of New Zealand and globally renowned coronavirus hardliner.

German version of this post


The class of 2023 of the Young Global Leaders will make the world a better place – this time for sure
21 April 2023 | The class of 2023 of the World Economic Forum’s Young Global Leaders are placing a greater emphasis on a sense of purpose and on having a positive impact on society and the environment than their predecessors, according to their leader. They will make the world a better place in the long term, he is sure. A look at this motley elite force allows a fairly safe judgement as to whether this will really come to pass this time around.

Breakfast with BlackRock & Co.
12 January 2020 | Jens Berger, editor of the popular progressive German Website “NachDenkSeiten”, has just published an eye-opening book on the power of the three asset management giants BlackRock, Vanguard and State Street (in German). I have obtained permission to publish the first chapter as an appetizer, which translates as “Breakfeast with BlackRock & Co.”.

Print Friendly, PDF & Email