Following an extensive and meticulous selection process, the Supervisory Board has provided a detailed overview of the steps taken to choose the most suitable candidate for the position of President. According to Ari Swaen, Chairman of the Supervisory Board of the Central Bank of Aruba, the primary focus during this process was on experience, integrity, and a structural vision for the institution.
Strict Experience Requirements
One of the fundamental criteria in this search was the continuity of the role. For this reason, a minimum of 5 years of experience in the position was required, with an option to extend this to a maximum of 10 years. This decision was made to guarantee stability in the bank’s governance and to avoid repeating such a complex selection procedure in a short period of time.
The primary candidate, Mr. Domhoff, was subjected to a very rigorous evaluation. Part of this process included “homework” assignments where he was asked to present concrete solutions for hypothetical problems he might face as president. According to the Supervisory Board, Domhoff presented a “very impressive” structure during a full day of interviews.
A Board of Weight and Experience
The selection decision was made by a body with significant expertise. The Supervisory Board that evaluated the candidates consists of:
- Two certified public accountants with over 40 years of experience.
- Two economists with over 30 years of experience (including a former president of the Central Bank of the Netherlands Antilles).
- A board chairman with 52 years of professional experience, 36 of which were as an attorney.
This level of expertise ensured a series of “tough” questions, through which the candidate successfully defended his vision, earning the unanimous confidence of the board.
Screening and Final Approval
In accordance with the Bank Act, three candidates were presented to the relevant Minister, indicating that Mr. Domhoff was the first choice and the most qualified. Following this phase, the Security Service (Veiligheidsdienst) conducted a rigorous investigation that included a visit to Curaçao to interview him.
The process culminated in the issuance of a “Declaration of No Objection” (VGB), confirming that the candidate meets all requirements for integrity and personal conduct. Finally, both the Council of Ministers and the Prime Minister gave their final approval after personal conversations with the candidate, thereby confirming his appointment.