Former Swiss central banker throws in towel to lead OECD
Former Swiss National Bank (SNB) chairman, Philipp Hildebrand, has pulled out of the race to become the next secretary-general of the Organisation for Economic Co-operation and Development (OECD).
This content was published on
2 minutes
swissinfo.ch/mga
Hildebrand announced that he had withdrawn his candidacy on Twitter on Thursday evening. “It was a privilege and an honour to have been Switzerland’s nominee and to have gotten this far in the race,” he stated. “Throughout this effort, I relentlessly advocated for the need to promote a fair transition to a net-zero emission economy, to reform and invest in the global economy to yield higher and more inclusive growth, and to reinvigorate international cooperation.”
External Content
Earlier today, I informed the Dean of the #OECDExternal link Council that I would like to withdraw my candidacy to become the next Secretary-General of the OECD. I would like to thank the Swiss Federal Council for its endorsement and all the countries that supported me. pic.twitter.com/4etYSjMiyFExternal link
The Paris-based OECDExternal link is an intergovernmental economic organisation with 37 member countries. Its aim is to stimulate economic progress and world trade. Switzerland was one of the founding members of the organisation when it was created in 1961.
Hildebrand was chairman of Switzerland’s central bank between 2010 and 2012, before he stepped down under pressure, notably from the political right, over a private currency deal.
He later joined BlackRock, a leading asset management company, and has held the position of vice-president there since 2012.
The final two candidates to lead the OECD are former EU Commissioner Cecilia Malmström from Sweden and ex-Australian finance minister Mathias Cormann.
Popular Stories
More
Culture
Documentary portrays Swiss teenagers forced to return to parents’ homeland
Swiss university graduates are popular hires worldwide
This content was published on
Graduates of Swiss universities are popular with international employers, according to the Global Employability University Rankings.
French cross-border workers in Switzerland fear ‘discriminatory’ unemployment reform
This content was published on
In the French region around Geneva, cross-border workers are protesting proposals to cut unemployment benefits for those working in Switzerland.
Swan infected with bird flu in central Switzerland
This content was published on
Switzerland has reported its first bird flu case of the season. A swan found dead in central Switzerland tested positive for the H5N1 virus.
Swiss researchers identify gene variants linked to cancer progression
This content was published on
ETH Zurich researchers explored genetic mutations’ effects on cell function and their role in cancer development and treatment using CRISPR/Cas techniques.
Explosion at Swiss company Givaudan’s US plant leaves two dead
This content was published on
Swiss flavour and fragrance maker Givaudan reported that an explosion at its Kentucky plant resulted in two deaths and several injuries.
Swisscom’s Vodafone Italia takeover cleared by Italian telecoms authority
This content was published on
Swisscom is one step closer to its planned acquisition of Vodafone Italia, as the Italian communications regulator has approved the €8 billion deal.
Swiss parliamentary committee proposes foreign aid cuts and military funding boost
This content was published on
A committee of the Swiss House of Representatives has proposed increasing funds for the military and agriculture while reducing foreign aid and asylum.
Swiss Rolex Submariner watches reach nearly $50 billion in total market value
This content was published on
The total market value of all Rolex Submariner watches ever made is nearly $50 billion, based on newly released production data.
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.
Read more
More
Swiss select ex-central banker for OECD top post
This content was published on
The government has nominated Philipp Hildebrand, a former head of the country’s central bank, to lead the Paris-based OECD.
OECD should focus on climate crisis and inequality, says Hildebrand
This content was published on
Former Swiss National Bank Chairman Philipp Hildebrand believes the Paris-based organisation can play a key role in the area of green investment.
This content was published on
“Hildebrand leaves the national bank with his head held high and in the bitter knowledge that he and his family, while they stayed within the rules, acted unwisely in the management of their personal assets because they opened themselves up to moral and political attack,” wrote the Neue Zürcher Zeitung (NZZ). Hildebrand told a news…
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.