Home » After 12 years in office – SNB boss Thomas Jordan is stepping down at the end of September – News

After 12 years in office – SNB boss Thomas Jordan is stepping down at the end of September – News

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After 12 years in office – SNB boss Thomas Jordan is stepping down at the end of September – News

SNB boss Thomas Jordan will step down at the end of September 2024. The Swiss National Bank announced this in a statement this morning Communiqué with.The SNB did not provide any information about a potential successor.

Legend: Jordan joined the SNB in ​​1997 and became a member of the board of directors in 2007. In January 2012, the economist took over the leadership of the National Bank, initially provisionally and then as President of the Board of Directors from April 2012. Keystone/ANTHONY ANEX

«The Bank Council and the Board of Directors greatly regret Thomas Jordan’s decision and would like to thank him warmly for his many years of outstanding commitment to a stability-oriented monetary policy and for his outstanding service to the National Bank and the country. “You wish him all the best for the upcoming new phase of his life,” the SNB continued.

Jordan, who was born in 1963, said: “After overcoming the various challenges of recent years, the time is now right to step down from my position.”

With a steady hand through crises

Jordan’s term of office included, among other things, the abolition of the minimum exchange rate of the franc against the euro, the measures to deal with the corona pandemic and the crisis at Credit Suisse. During the pandemic, the SNB generously provided the Swiss economy with liquidity, in consultation with other central banks around the world. However, this led to an inflation shock in the boom after the pandemic. But the SNB has successfully mastered this inflation so far. Shortly before his end in office, the SNB had to save the CS together with politicians.

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It seems as if Jordan has hardly been spared a crisis. He led the SNB through these crises with a steady hand. The downside in his career is the fact that his leadership style is criticized by insiders as patriarchal and conservative, which tolerates little contradiction. Jordan also failed to make the male bastion of the SNB more feminine. In contrast to, for example, the European Central Bank (ECB). His successor will probably have to address this.

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