Federal Council appoints Martin Schlegel as new SNB Chairman
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
Switzerland condemned for deciding to deport gay Iranian
This content was published on
Switzerland violated the prohibition on inhuman treatment by considering that a gay Iranian could be returned to his country.
Gestational diabetes found to increase risk of adult-onset diabetes
This content was published on
A research team from the Lake Geneva region has identified persistent dysfunctions in glucose regulation in women with gestational diabetes. In the long term, this can increase the risk of adult-onset diabetes by up to ten times.
Swiss village must be evacuated by midday on Sunday
This content was published on
The village of Brienz-Brinzauls in eastern Switzerland, which is threatened by a rockfall, must be evacuated by 1pm on Sunday. All residents must leave the village.
This content was published on
A former judge of the Graubünden Administrative Court in eastern Switzerland has been found guilty of rape, sexual harassment and threatening a former trainee.
Costs and care time increase in Swiss retirement and nursing homes
This content was published on
In 2023 the costs of retirement and nursing homes increased by 5% compared to 2022 and those of assistance and care at home by 7%. Together, they amounted to CHF15 billion.
This content was published on
Almost half of the population in Switzerland shows clear to pronounced signs of smartphone addiction, according to a survey.
Swiss healthcare stakeholders want to save CHF300 million
This content was published on
The main players in the Swiss healthcare sector want to save around CHF300 million ($340 million) in healthcare costs a year from 2026.
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.