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Jordan Named SNB Chief

The Swiss government on Wednesday appointed Thomas Jordan as the new president of the Swiss National Bank.

He will take office effective immediately and will take over management of Department I, the central bank said in a statement.

Jordan has been acting as interim chairman of the SNB since Philipp Hildebrand stepped down in January over the controversial currency trade made by his wife weeks before the central bank capped the currency.

Earlier in the day, the SNB decided to strengthen rules applicable to private financial transactions of its staff.

The Federal Council appointed Jean-Pierre Danthine as Vice Chairman of the Governing Board. Now he is a member of the Governing Board and Head of Department III.

Fritz Zurbrugg has been appointed to the Governing Board of the central bank. Zurbrugg, who is Director of the Federal Finance Administration, will take over management of Department III from August 1.

by RTT Staff Writer

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