Position: Chairman of the Governing Board of the Swiss
Incumbent: Philipp Hildebrand
Term: Hildebrand took office from his predecessor
Jean-Pierre Roth on Jan 1, 2010. The current six-year term for
the whole three-member governing board ends on June 30, 2015,
and all members can be reappointed by the government.
-- Hildebrand heads the governing board, which decides on
monetary policy in Switzerland. He is a staunch defender of
price stability as the main goal of monetary policy, fully in
line with the SNB's recent tradition. He was part of the
three-member committee that enacted drastic unconventional
measures during the financial crisis, including massive
currency interventions to prevent the Swiss franc from rising
against the euro.
-- Hildebrand, born July 19, 1963, gained most of his fame
during the crisis for spearheading the push for tighter banking
regulation when, as vice-chairman of the board, he was in
charge of the SNB's financial stability department. He raised
some eyebrows among the Swiss banking community, used to more
secretive backroom talks with regulators, with his open,
American-style of debating regulation issues publicly.
-- In 2008 Hildebrand was also one of the masterminds
behind the bailout of UBS UBSN.VX, the country's largest
bank. He was rumored to have been approached by UBS to be CEO
to rebuild investors' trust in the bank, which ran up the
largest annual loss in Swiss corporate history.
-- A fluent English-speaker with a slight Canadian accent,
Hildebrand represents Switzerland on the Financial Stability
Board. He is internationally well connected. In 2008, he became
member of the exclusive Group of Thirty, made up of top private
and public sector officials and headed by former U.S. Federal
Reserve chief Paul Volcker.
-- The former Swiss swimming champion, who nearly made it
to the 1984 Los Angeles Olympics, joined the SNB's decision
making board in July 2003, quitting his job as chief investment
officer at Geneva-based private bank UBP. He became
vice-chairman of the SNB board in May 2007.
-- Hildebrand started his professional career at the World
Economic Forum in Geneva in 1994 and joined Moore Capital
Management a year later. He became chief investment officer at
Zurich-based private bank Vontobel (VONN.S) in 2000 before he
went on to UBP in 2001.
-- After graduating from university in Toronto in 1988,
Hildebrand studied as a postgraduate in Geneva, Florence and at
Harvard University. He holds a PhD. in International Relations
from the University of Oxford.
(Reporting by Sven Egenter; Editing by Paul Simao)