The Federal Council has appointed the leadership positions at the Swiss National Bank (SNB). Martin Schlegel will become President and succeed Thomas Jordan, as announced in a statement on Wednesday afternoon. Petra Tschudin (pictured below) will join the three-member Board of Directors, and Antoine Martin will take on the role of Vice President.

By appointing Schlegel, the current Vice President, the government has resolved the uncertainties surrounding one of the country's most crucial appointments.

A Colleague of Martin Schlegel

Petra Tschudin (Image: SNB)

The 49-year-old Petra Tschudin is only the second woman to serve on the SNB board, following Andréa Maechler, who moved to the Bank for International Settlements (BIS) in 2023. Tschudin started her career at the SNB 20 years ago in the research department alongside Schlegel and was promoted last year to one of the two deputy positions in the first department.

From 2009 to 2014, she took a break from the SNB to work for the BIS in Basel and to engage in research and teaching activities in Dublin. She will now head the third department, overseeing financial stability, finance, and cash.

Surprising Resignation in March

The outgoing president, Thomas Jordan, unexpectedly announced his resignation in early March after twelve years at the helm of the SNB. «After managing various challenges in recent years, the time has come for me to step down from my position,» the 61-year-old Jordan explained at the time.

Schlegel had been considered one of the leading candidates for the top job in the SNB's three-member board, as noted by finews.ch.

Experience in Singapore

Schlegel studied economics at the University of Zurich. He joined the SNB in 2009, taking charge of the Foreign Exchange and Gold unit. In 2016, he was appointed to lead the SNB’s Singapore branch.

From 2011 to 2018, he was a member of the Investment Committee. In 2018, he was named Deputy Director, and in August 2022, he was promoted to Vice President of the board.