Management of the Bank
Governor Jorgovanka Tabaković
Jorgovanka Tabaković was born on 21 March 1960 in Vučitrn. She finished high school in 1977 and enrolled in the Faculty of Economics in Priština. Having obtained the right to an accelerated programme of studies due to a high grade average in the first two years, she graduated on 14 May 1981 as the student of the generation. From 1981 until 1989 she taught economics-related subjects in the Secondary Economics School in Priština. In the following two years, she worked as financial director in the trading company “Grmija“.
In early 1992, she was employed by Prištinska banka a.d., part of the Beogradska banka system, as Deputy General Manager and continued to work in the banking industry until 1999. From 1999 until her appointment as Governor, she worked in the Telecommunications Company “Telekom Srbija”. She held the position of General Manager of the Logistics Department from March 2005 until December 2008, after which she worked as an expert for economic operations.
She defended her MSc thesis “Reform of the Banking System of Yugoslavia” at the Priština Faculty of Economics in 1999. In 2008 she submitted a doctoral thesis proposal entitled “Central Bank Instruments – Reaches and Limitations on the Example of the Republic of Serbia”. She took her PhD in economics in May 2011.
She was elected Member of Parliament in six parliamentary convocations – three times from 1993 to 2000, and three times from 2007 to 2012. She was appointed Chair of the Parliament’s Finance Committee for two terms of office. From March 1998 until October 2000, she served as Minister of Economic and Ownership Transformation in the Serbian Government.
She has authored a number of studies on privatisation and financial markets. In 2006 and 2007, she lectured at the Faculty of Management in Novi Sad.
She has served as Governor of the National Bank of Serbia since August 2012. In June 2018 she was re-appointed for another six-year term of office, starting from August 2018.
She is a widow and mother of three children: Ivana, Milena and Nikola.
Vice-Governor Veselin Pješčić
Veselin Pješčić was born in 1971 in Gacko, Bosnia and Herzegovina.
After completing his secondary education in Vršac, Mr Pješčić moved to Belgrade where he graduated from the Faculty of Economics in 1996 and defended his master’s thesis “Central Bank Independence and Macroeconomic Stability” in 2001.
Mr Pješčić started his professional career as a financial analyst at the Financial Consulting Centre of the Economics Institute in Belgrade. He has been working at the National Bank since March 1998. He became Head of the Division for Open Market Operations in December 2001 and was promoted in February 2003 to General Manager of the Monetary System and Policy Department (now Monetary Operations Department). He managed the Department until June 2012, leading the efforts to promote market-based monetary policy instruments, including repo transactions, deposit and lending facilities, and the key policy rate of the National Bank of Serbia supported by a corridor of interest rates. Efforts were made in parallel to develop monetary analysis and the model of forecasting banking sector liquidity. Mr Pješčić was also involved in the development of the market of government securities and foreign exchange swap market, introduction of the BEONIA interest rate in the interbank market, and in the introduction and analysis of other market indicators.
He resigned his position of an advisor to the Governor of the National Bank of Serbia to take office as Vice-Governor on 25 September 2012.
Mr Pješčić attended many training programmes and also represented the National Bank of Serbia in numerous international and domestic conferences and professional events related to the theory of macroeconomics and monetary policy.
He is a long-standing member of the editorial board of the professional magazine “Macroeconomic Analyses and Trends” (MAT), published by the Economics Institute in Belgrade, and a co-author of a number of papers in the field of central banking and monetary policy, published in domestic journals.
He is the father of two boys: Stefan and Pavle.
Vice-Governor Diana Dragutinović
Diana Dragutinović was born in Belgrade on 6 May 1958.
She graduated with honours from the Belgrade Faculty of Economics in 1982 as the student of the generation. She obtained M.A. degree in 1984, Ph.D. in 1993 and was appointed assistant professor at the same faculty in 1999. She teaches there today at basic and master programmes of study – Economic Growth and Monetary and Financial Stability courses. Ms Dragutinović gave invited lectures at the London School of Economics and the Economic Policy Institute in Sofia (Summer Seminar for Young Public Servants from Southeastern Europe).
A successful author of several textbooks, Ms Dragutinović also boasts around fifteen monographs, more than sixty studies and a number of articles published in professional journals.
From 2002 to 2004, Ms Dragutinović was Chief Economic Policy Adviser at the International Monetary Fund. She served as Vice Governor of the National Bank of Serbia from 2004 to 2008 and was responsible for coordination and management of activities in the field of research and statistics, monetary policy, financial markets and payment system. Ms Dragutinović is the architect of the new monetary policy framework – implicit inflation targeting, adopted in September 2006, and an advocate for the introduction of the subsequently adopted explicit inflation targeting regime. She initiated preparation of the Inflation Report and took part in developing the inflation projection model currently in use by the National Bank of Serbia.
From 2008 to March 2011, Diana Dragutinović served as Minister of Finance in the Government of the Republic of Serbia, giving a significant contribution to the legal framework for the establishment of fiscal rules and financial stability.
Vice-Governor Željko Jović
Željko Jović was born on 29 September 1979 in Šabac.
In 2003, he graduated from the Belgrade Faculty of Economics at the Finance, Banking and Insurance Department. In 2010, he completed his M.A. studies at the Belgrade Faculty of Economics, the Finance and Banking Management Department, with the thesis “Application of Internal Approach to Credit Risk Management in the Banking Sector of the Republic of Serbia”. In 2017, he defended his PhD thesis “Analysis of Credit Risk Determinants in Conditions of Pronounced Information Asymmetry”.
As of 2004, he held various risk management posts in commercial banks in Serbia, including a risk analyst and director of a risk management department. In July 2012 he became Deputy General Manager and in November 2012 General Manager of the Bank Supervision Department of the National Bank of Serbia. He was the Director of Administration for Supervision of Financial Instititutions from March until June year 2018 when the Administration was abolished by law.
By the Decision of the Government of the Republic of Serbia of 10 October 2012, he was appointed a member of the Managing Board of the Deposit Insurance Agency at the proposal of the National Bank of Serbia. Following amendments to the Law on the Deposit Insurance Agency of 2015, he was re-elected to the Managing Board of the Deposit Insurance Agency. He held this function until his appointment for the Director of the Administration for Supervision of Financial Institutions of the National Bank of Serbia.
He was a standing member of the Audit Public Oversight Board since its establishment, in accordance with the Law on Audit. From January 2015 to March 2018, he served as President of the Audit Public Oversight Board. He is a member of the Financial Stability Committee of the Republic of Serbia since its inception in 2013.
Before joining the National Bank of Serbia, he was an associate at the Credit Risk Board of the Association of Serbian Banks. He is a member of the Professional Risk Managers’ International Association.
He has published eleven papers in journals and proceedings, relating to credit risk management, the financial crisis and possible responses of the real economy in crisis conditions.
He lives in Belgrade. He has two children.