Joanne Kellermann, director of pension fund supervision at De Nederlandsche Bank (DNB), will be unavailable for a new seven-year term, the Dutch watchdog has announced. 

“Her decision is for personal reasons,” the DNB said.

“As the financial crisis has quieted down a bit, and the pensions sector has found calmer waters, this is a logical moment for Kellermann to find a new challenge.”

Her current term in office runs until 1 November.

The DNB’s executive board, as well as its supervisory board (RvC), said they were very grateful for Kellermann’s efforts.

Alexander Rinnooy Kan, chairman of the RvC, said: “During one of the most turbulent times in its history, the DNB has fully benefited from her great expertise and involvement.

”She has been one of the driving forces behind the supervisory changes in the financial sector.”

Kellermann has been responsible for supervision on pension funds and insurers, as well on the supervisory expertise centres for integrity and the DNB’s intervention unit.

She is also a member of the Supervisory Council at EIOPA, and chairs the Financial Expertise Centre, a cooperation among all Dutch bodies involved in fighting financial crime.

In addition, Kellermann is a member of the Standing Committee on Standards Implementation (SCSI) for the Financial Stability Board.

Due to the expected changes at the DNB following the introduction of European supervision on banks, its executive board and RvC are reconsidering the make-up of its new executive board, the regulator said.