Christine Lagarde is the eleventh Managing Director of the IMF, and the first woman to hold that position. Serving since 2011, she was re-elected for a second five-year term starting on July 5, 2016. A lawyer by background, she practiced for 20 years with the international law firm Baker & McKenzie, of which she became global chairman in 1999. In 2005, Ms. Lagarde joined the French government as Trade Minister. Two years later, she became the first woman to hold the post of Finance and Economy Minister of a G7 country. From July to December 2008, she also chaired the ECOFIN Council, which brings together Economics and Finance Ministers of the European Union, and helped foster international policies related to financial supervision, regulation, and strengthening global economic governance. As Chairman of the G20 when France took over its presidency for the year 2011, she set in motion a wide-ranging work agenda on the reform of the international monetary system.