SNB Bank Council Leadership Will Change With Ammann Appointed

(Bloomberg) — Switzerland’s government appointed Christoph Ammann as the next president of the Swiss National Bank’s Bank Council, the panel that oversees the institution.

Ammann, a politician of the Social Democrats, was economy minister of the canton of Bern until May and previously a mayor and cantonal lawmaker.

He has been on the Bank Council since 2019 and served as its vice president since last year. He will head the body from May of next year, the SNB and the government said in separate statements.

The Bank Council has no influence on monetary policy, but oversees and controls how the SNB conducts its business. It’s also in charge of organizing the succession of interest-rate setters on the central bank’s three-member board.

Ammann succeeds Barbara Janom Steiner, who has led the council for seven years and will reach the statutory limit on her time in office. Marc Mächler, another cantonal politician, will succeed Ammann as vice president.

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