As a member of the Executive Board of the Deutsche Bundesbank, Carl-Ludwig Thiele was responsible not only for the supply of cash to industry and commerce, but also for the currency reserves, in particular the German gold reserves. The extensive reorganization of gold reserve management using a depository concept is attributable to his efforts. Under Thiele, substantial parts of the foreign custody of the German gold reserves were relocated to Frankfurt am Main, gold holdings in London and New York were reduced, and storage in Paris was discontinued.
Before that, the lawyer was a member of the German Bundestag for 20 years, financial policy spokesman and deputy parliamentary group spokesman for the Free Democrats. Thiele is a founding member of the Initiative New Social Market Economy.