Antoine Martin from French-speaking Switzerland will be a new member of the board of directors of the Swiss National Bank (SNB). He is currently working at the US Federal Reserve (Fed) in New York. Martin will take office as the successor to Andréa Maechler from January 1, 2024. In addition, the Federal Council elected the members of the SNB Bank Council for the term of office from May 1, 2024 to April 30, 2028 new. The former Graubünden government councilor Barbara Janom remains president of the bank council.
The Federal Council has appointed Antoine Martin as the successor to Andréa Maechler, who resigned at the end of June, as a member of the board of directors of the Swiss National Bank. Because of his many years of work at the Fed, Martin knows the needs of a central bank, the Federal Council wrote about its decision.
Experienced in monetary and currency policy
He also has well-founded and practical experience in the field of monetary policy. In scientific research he also dealt with the challenges facing a central bank.
Born in 1969, Martin is currently Financial Research Advisor on Financial Stability Policy Research at the US Federal Reserve in New York. Martin was proposed by the SNB Bank Council and will take up office on January 1, 2024. He was elected for the remainder of the term from 2021 to 2027.
According to the Federal Council, Martin comes from Froideville VD and studied economics in Lausanne. In 2001 he received his doctorate from the University of Minnesota in the USA. Since 2005, he has held various management positions at the Federal Reserve.
The SNB’s board of directors currently includes President Thomas Jordan and Vice President Martin Schlegel. The previous third member, Andréa Maechler, moved to the Bank for International Settlements (BIS) in Basel in the summer.
Two new members for the SNB Bank Council
The Federal Council also re-elected the members of the SNB Bank Council for the term of office from May 1, 2024 to April 30, 2028. Former Graubünden government councilor Barbara Janom Steiner remains president of the bank council.
In addition to Janom Steiner, the Federal Council also confirmed the Ticino finance and economic director Christian Vitta, the Berne economic director Christoph Ammann and the Schaffhausen finance director Cornelia Stamm Hurter as Bank Council members.
Legend: The Swiss National Bank building in Zurich. Antoine Martin becomes a new member of the Board of Directors. SRF/ARND WIEGMANN
The Federal Council has appointed Andreas Dietrich, professor of banking at the Lucerne University of Applied Sciences, and Renaud de Planta, managing partner of the Geneva banking group Pictet, as new members of the Bank Council. They follow Shelby du Pasquier and Christoph Lengwiler. Both must resign at the end of April due to term limits.
According to Federal Councilor Romeo Lacher, Vice President of the SNB Bank Council should remain. However, this is subject to the proviso that the General Assembly of the Central Bank elects him for another term of office.
The SNB Bank Council has a total of eleven members. Six of them are elected by the Federal Council and the remaining five by the General Assembly. The committee’s task is to supervise the National Bank and control its management.