Swiss National Bank Picks Martin Schlegel as Chairman
By Ed Frankl
The Swiss National Bank tapped its vice chairman Martin Schlegel to be its new chairman, replacing long-term incumbent Thomas Jordan with a widely tipped insider.
Schlegel has been vice chairman since 2022, having joined the SNB after graduating in 2003, and will take on the position from Oct. 1.
Thomas Jordan's 12-year tenure at the top of the SNB was marked by unorthodox monetary policy, including a negative interest rate, and the failure of one the country's biggest banks, Credit Suisse.
The central bank has cut rates at both of its most recent monetary-policy meetings, as it bids to boost economic activity and rein in a rising Swiss franc.
Antoine Martin, currently a member of the SNB's governing board, takes over from Schlegel as vice chairman.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
June 26, 2024 09:46 ET (13:46 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
The 10 Best Companies to Invest in Now
-
New 4-Star Stocks
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
United States