Federal Council appoints Martin Schlegel as new SNB Chairman
Federal Council appoints Martin Schlegel as new SNB Chairman
Keystone-SDA
The Federal Council has filled the management positions at the Swiss National Bank (SNB). As expected, Martin Schlegel will become Chairman and Petra Tschudin will become a new member of the Governing Board.
This content was published on
2 minutes
Keystone-SDA
Deutsch
de
Bundesrat ernennt Martin Schlegel zum neuen SNB-Präsidenten
Original
Antoine Martin will take over Schlegel’s previous post of Vice-Chairman. Schlegel succeeds Thomas Jordan. Jordan has headed the SNB since April 2012 and will step down at the end of September 2024. Schlegel is considered Jordan’s “foster son” and was the logical successor for many observers.
Martin Schlegel has worked at the SNB since 2003. He rose through the ranks until he was elected to the SNB’s three-member Governing Board as Vice Chairman in 2022.
Farewell after more than 27 years
Biel native, Thomas Jordan, joined the SNB in 1997 and was appointed a member of the Governing Board in May 2007. He then took over the leadership of the SNB in April 2012, which was in crisis following the resignation of Philipp Hildebrand. Hildebrand had been forced to resign due to controversial foreign exchange transactions by his then wife.
The lifting of the Swiss franc-euro minimum interest rate limit in 2015, introduced by his predecessor Hildebrand in 2011, was one of the outstanding events during Jordan’s lead. With the introduction of negative interest rates in 2014 and their abolition in 2022, he made other wise decisions.
The Covid-10 pandemic and the provision of liquidity for the SME loan program also took place during his term of office. The end of the Jordan era was marked by the collapse of Credit Suisse and its takeover by UBS.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to english@swissinfo.ch.
Popular Stories
More
Culture
Documentary portrays Swiss teenagers forced to return to parents’ homeland
Swiss political class divided over reform of EU asylum pact
This content was published on
As a result of the EU's Migration and Asylum Pact, Switzerland must adapt five laws linked to the Schengen/Dublin agreements.
AI can reduce the number of animals needed for research
This content was published on
Swiss researchers have developed a new, AI-supported method that analyses the behaviour of mice in the laboratory more efficiently.
Geneva Conventions conference on Middle East scheduled for March 2025
This content was published on
The conference on the Middle East of the 196 States party to the Geneva Conventions, organised by Switzerland, will take place in Geneva in March.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.