American economist and businessman Mohamed El-Erian will be the next president of Queens’ College at the University of Cambridge.
El-Erian, 60, will succeed current President Lord John Eatwell in 2020, according to CNBC. El-Erian, who was born in New York, studied at the school during the 1970s and has been an honorary fellow there since 2013.
“Having experienced the transformational power of Queens’ and Cambridge, I am honored to have the opportunity to work with my colleagues to build on the College’s many accomplishments under the 23-year leadership of Lord Eatwell,” El-Erian said in a statement.
El-Erian is credited with coining the term the “new normal” to describe the global economic slowdown following the 2008 financial crisis.
Richard Weber, the vice president of the school, praised El-Erian’s appointment in a statement.
“We are delighted with Dr. El-Erian’s appointment at a time of unique opportunities and formidable challenges for the University and its colleges,” Weber said. “He shares our determination to attract motivated students with outstanding potential from all backgrounds. We are confident that, under his leadership, Queens’ will continue its commitment to academic excellence and world-leading research.”
El-Erian serves as the chief economic adviser at Allianz and is the former CEO of PIMCO.
