Masaaki Shirakawa, Former Governor of Bank of Japan, Joins Promontory
Masaaki Shirakawa, the former governor of the Bank of Japan, has joined Promontory Financial Group, a premier strategy, risk-management, regulatory, and compliance consulting firm for financial services firms worldwide, as a senior adviser and a member of the firm’s global advisory board.
Former Governor of the Bank of Japan Masaaki Shirakawa has joined Promontory as a senior adviser and member of the global advisory board. (Photo: Business Wire)
Mr. Shirakawa is highly regarded globally as a policy leader in economics and finance. As head of the Bank of Japan and chairman of its policy board from April 2008 to March 2013, Mr. Shirakawa had principal responsibility for guiding the monetary policy of the world’s third-largest economy. He also served as director and later vice-chairman of the Bank for International Settlements. These roles capped a four-decade career with the Japanese central bank, where his responsibilities encompassed monetary policy and financial stability and domestic and international operations.
“Shirakawa-san is a true public servant, a distinguished economist, and one of a small group of central bankers and other leaders who led the world economy through the financial crisis,” said Eugene A. Ludwig, Promontory’s founder and CEO. “We are honored by his decision to join Promontory and we look forward to his insights for guiding the firm in its service to clients. His involvement with Promontory reflects the importance of our work to create stronger financial institutions and bolster the global financial system.”
“I am pleased to be part of Promontory's steady efforts to assist banks and other financial firms in meeting legal and regulatory obligations and challenges,” Mr. Shirakawa said. “As we put the financial crisis behind us, there is no better time to focus on how to continually improve the strength and stability of the world’s financial institutions, and Promontory has a deep commitment to this priority.”
Mr. Shirakawa graduated from the University of Tokyo with a bachelor of arts in economics and was hired by the Bank of Japan in 1972, and went on to earn a master of arts from the University of Chicago in 1977.
He served as Bank of Japan’s executive director from 2002 to 2006, with responsibility for framing monetary policy decisions. He also served as general manager for the Americas, based in New York, and as the adviser to the governor for international capital markets.
Mr. Shirakawa left the central bank in 2006 to join the faculty of the graduate school of public policy at Kyoto University, before returning two years later as governor. Since retiring from the central bank this year, he has been named a special professor of international politics, economics and communication at Aoyama Gakuin University, one of Japan’s most prestigious universities. He is a member of the Group of 30.
Promontory Financial Group is the world’s foremost expert in financial risk, regulation, and compliance. The firm helps companies and governments around the world manage complex risk and meet their greatest regulatory challenges with high integrity and quality, thereby making its clients stronger and the financial system safer for consumers. Promontory is headquartered in Washington, D.C., and has 15 global offices, including Tokyo, Atlanta, Brussels, Denver, Dubai, Hong Kong, London, Milan, New York, Paris, San Francisco, Singapore, Sydney, and Toronto. Eugene A. Ludwig, former U.S. Comptroller of the Currency, founded Promontory in 2001.
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