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Wiebe Draiker is new chief of Rabobank

rabobankRabobank said its supervisory board had nominated Wiebe Draijer to serve as its new executive chairman after the bank’s former top executive resigned because of a scandal involving the manipulation of global benchmark interest rates. Piet Moerland, the chairman of Rabobank’s executive board, stepped down in October after Rabobank admitted to criminal wrongdoing by its employees and agreed to pay more than $1 billion in criminal and civil penalties for its role in setting the London interbank offered rate, or Libor, and other global interest rate benchmarks. Rinus Minderhoud, a member of the bank’s supervisory board, has been serving as interim executive chairman since Mr. Moerland’s departure. Draijer, 48, is a former consultant with McKinsey & Company and is currently president of the Social and Economic Council of the Netherlands, which advises the government on national and international social and economic policy. Draijer’s appointment has been submitted to Dutch regulators for review.

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