With his 47 years of age, Martin Schlegel undoubtedly embodies a new generation of Swiss National Bank representatives, differing greatly from the reticence of previous monetary policymakers.

The Swiss National Bank (SNB) now recognizes its obligation as a public institution and acknowledges that its interests, such as in digitalization or issues like climate change and sustainability, can only be successfully implemented through dialogue with the public. Its mandate today encompasses a much broader scope than solely focusing on price stability-oriented monetary policy.

Popular Internally

Schlegel naturally falls between his predecessors Philipp Hildebrand and Thomas Jordan: open, approachable, yet without the excessive airs of Hildebrand, yet more relaxed and quick-witted than Jordan.

This makes him internally popular, garnering ample support throughout his career. The fact that he was appointed to the vice position in the three-member board at that time rather than a woman speaks volumes for his competence, which evidently outweighed mere diversity considerations. Experts acknowledge Schlegel's significant economic and monetary policy expertise.

Experience in Asia

Thanks to his international experience, particularly in the growth region of Asia, similar to Hildebrand's relations with the USA, he navigates confidently on the international stage. His diverse national roles, such as at the Economic Research Centre (KOF) at ETH Zurich, the Swiss Society for Business Cycle Research (SGK), or as President of the Board of Trustees of the Gerzensee Study Centre, also keep him closely attuned to Switzerland.

Schlegel has been with the SNB since 2003, steadily climbing the career ladder and assuming diverse responsibilities in financial market analysis, money markets, and the «Foreign Exchange and Gold» unit.

Temporary Presidency

He further honed his expertise as a member of the SNB's Investment Committee, a lecturer at the University of Basel, and an expert within the International Monetary Fund. Since August 2022, he has led the II. Department (Financial Stability, Cash, Risk Management, Accounting, Controlling, Operational Risks, and Security) in Bern.

When Jordan temporarily stepped down in 2021 due to health reasons, Schlegel assumed his role—temporarily becoming Switzerland's top central banker. His successful handling of this interim role undoubtedly contributed to his recent appointment.

In Tune with the Times

The three members of the SNB Directorate are appointed by the Federal Council for a term of six years upon the proposal of the Bank Council. With Schlegel's appointment, the Federal Council was guided by his competence, loyalty, and grounded nature—not by contemporary trends or quota considerations, although Schlegel, a committed vegetarian, is certainly in touch with modern issues.