Catherine's Feed
Jan 11, 2012

Naming new SNB head may take months – minister

ZURICH (Reuters) – Switzerland might not name a permanent successor to Philipp Hildebrand as central bank chairman for several months, the country’s finance minister said on Wednesday, adding she had full confidence in the bank’s interim head.

Hildebrand quit on Monday, apparently forced out when emails failed to clear him of involvement in a currency trade by his wife three weeks before he oversaw the introduction of a cap on the value of the franc.

Jan 11, 2012

Naming new SNB head may take months: Finance minister

ZURICH (Reuters) – Switzerland might not name a permanent successor to Philipp Hildebrand as central bank chairman for several months, the country’s finance minister said on Wednesday, adding she had full confidence in the bank’s interim head.

Hildebrand quit on Monday, apparently forced out when emails failed to clear him of involvement in a currency trade by his wife three weeks before he oversaw the introduction of a cap on the value of the franc.

Jan 11, 2012

Naming new Swiss cbank head may take months-FinMin

ZURICH, Jan 11 (Reuters) – Swizterland might not name
a permanent successor to Philipp Hildebrand as central bank
chairman for several months, the country’s finance minister said
on Wednesday, adding she had full confidence in the bank’s
interim head.

Hildebrand quit on Monday, apparently forced out when emails
failed to clear him of involvement in a currency trade by his
wife three weeks before he oversaw the introduction of a cap on
the value of the franc.

Jan 10, 2012

Forex trade emails cast doubt on SNB’s Hildebrand

ZURICH, Jan 10 (Reuters) – The supervisory council of
the Swiss National Bank forced Philipp Hildebrand to step down
as chairman after emails about a currency trade by his wife
failed to clear him of involvement in the deal, newspapers
reported on Tuesday.

Hildebrand’s wife Kashya, a former hedge fund trader who now
runs a Zurich art gallery, bought 400,000 Swiss francs
($418,000) worth of dollars on Aug. 15, three weeks before her
husband oversaw steps to cap the rise of the safe-haven franc.
She later sold the dollars at a higher rate.

Jan 10, 2012

Swiss central bank seeks new blood after chief quits

ZURICH (Reuters) – The Swiss National Bank starts the search for a new board member on Tuesday after the resignation of Philipp Hildebrand as chairman over a controversial currency trade made by his wife.

Hildebrand’s wife Kashya, a former hedge fund trader who now runs a Zurich art gallery, bought 400,000 Swiss francs ($418,000) worth of dollars on August 15, three weeks before her husband oversaw steps to cap the rise of the safe-haven franc. She later sold the dollars at a higher rate.

Jan 10, 2012

Swiss cbank seeks new blood after chief quits

ZURICH, Jan 10 (Reuters) – The Swiss National Bank
starts the search for a new board member on Tuesday after the
resignation of Philipp Hildebrand as chairman over a
controversial currency trade made by his wife.

Hildebrand’s wife Kashya, a former hedge fund trader who now
runs a Zurich art gallery, bought 400,000 Swiss francs
($418,000) worth of dollars on Aug. 15, three weeks before her
husband oversaw steps to cap the rise of the safe-haven franc.
She later sold the dollars at a higher rate.

Jan 10, 2012

Swiss cenbank seeks new member after chief quits

BERNE (Reuters) – The Swiss National Bank was set to start the search for a new board member on Tuesday after the resignation of Philipp Hildebrand as chairman over a controversial currency trade made by his wife.

Hildebrand’s wife Kashya, a former hedge fund trader who now runs a Zurich art gallery, bought 400,000 Swiss francs (269,956.08 pounds) worth of dollars on August 15, three weeks before her husband oversaw steps to cap the rise of the safe-haven franc. She later sold the dollars at a higher rate.

Jan 9, 2012

Newsmaker – Down-to-earth Jordan to stick to SNB course

BERNE (Reuters) – With his down-to-earth, soft-spoken manner, Switzerland’s interim central bank chief Thomas Jordan will differ in manner but not in substance from suave former head Philipp Hildebrand, who resigned on Monday over a currency dealing scandal.

Jordan, born in 1963, will take the helm from Oxford-educated Hildebrand after an uproar over a currency trade by Hildebrand’s wife just a few weeks before the SNB capped the franc at 1.20 per euro, prompting accusations she had profited from privileged information.

Jan 9, 2012

Newsmaker: Jordan to stick to Swiss central bank course

BERNE (Reuters) – With his down-to-earth, soft-spoken manner, Switzerland’s interim central bank chief Thomas Jordan will differ in manner but not in substance from suave former head Philipp Hildebrand, who resigned on Monday over a currency dealing scandal.

Jordan, born in 1963, will take the helm from Oxford-educated Hildebrand after an uproar over a currency trade by Hildebrand’s wife just a few weeks before the SNB capped the franc at 1.20 per euro, prompting accusations she had profited from privileged information.

Jan 9, 2012

Down-to-earth Jordan to stick to Swiss c.bank course

BERNE, Jan 9 (Reuters) – With his down-to-earth,
soft-spoken manner, Switzerland’s interim central bank chief
Thomas Jordan will differ in manner but not in substance from
suave former head Philipp Hildebrand, who resigned on Monday
over a currency dealing scandal.

Jordan, born in 1963, will take the helm from
Oxford-educated Hildebrand after an uproar over a currency trade
by Hildebrand’s wife just a few weeks before the SNB capped the
franc at 1.20 per euro, prompting accusations she had profited
from privileged information.