The supervisory board of the Bank of Estonia has chosen Ardo Hansson as the bank's next governor for the 2012 to 2019 period.
Hansson, currently head of the World Bank's economic policy bureau for China, received five votes from Bank of Estonia board members this afternoon against three for the International Monetary Fund's Andres Sutt.
Hansson, who has an economics Ph.D. from Harvard University, has been employed by the World Bank since 1998. Before taking up the post at the World Bank, he has worked at the institution's Eastern European and Balkan divisions.
In the early 1990s, he was member of the monetary reform committee preparing Estonia's transition to its national currency, the kroon. From 1993 to 1998, he was a member of the supervisory board of the Bank of Estonia.
Hansson's competitors in the first round of voting on September 6 included the current Minister of Finance Jürgen Ligi and lawyer Andres Tupits.
Hansson will replace Bank of Estonia Governor Andres Lipstok in June 2012.