The 62-year-old was born in Wijnegem and went to school in Antwerp, where he excelled in science and debating. He later studied at Leuven, earning a degree in theoretical physics and later a PhD in economics. He has been a visiting professor at Harvard Business School and the University of California (UCLA and UCD).

Daems’ appointment is the first step in a charm offensive aimed at reassuring Belgian shareholders, who have seen the country’s biggest bank falling into French hands. This gives rise to concerns that the interests of Paris will now take precedence. But friends and colleagues warned that Daems is not the sort of person to serve as a figurehead. He is a “strong and honest personality who will not let himself be used as the flamand de service,” said fellow Gimv board member Marc Stordiau.