He was the head of the Money Market Division of the Bank’s Research Department from 1975 to 1979, when he left to become Director General for Economic and Financial Affairs at the European Commission. He returned to the Bank in 1983, was named Deputy Director General in 1984 and served in that capacity for thirteen years. He certainly left his mark.
Developments in at least three areas would most likely have been substantially different, and with a cost-benefit balance substantially in the red, had his influence not been exercised so effectively.