Swiss National Bank or SNB Tuesday said its chairman Philipp Hildebrand has stepped down from the company with immediate effect, the news reports said.
The resignation of Mr. Hildebrand came as a blow as the chairman himself has stated that he would not quit and that he has not committed any legal error.
There were controversies over the so-called currency deals made by his wife. After decision regarding his resignation from the bank was announced, Mr. Hildebrand also divulged the personal emails sent during this time in which his wife made the private financial transaction.
He said, “I have come to the conclusion that it is not possible to provide conclusive and final evidence that my wife indeed initiate the foreign exchange transaction on the August 15th without my knowledge.”
Mr. Hildebrand was credited by The Bank of Council for having successfully taken care of the Swiss National Bank during the time of monetary policy challenges.
Mr. Hildebrand was appointed as the chairman of the Governing Board and Head of Department of the Swiss National Bank on January 1, 2010.
Thomas Jordan, the vice chairman will takeover as the chairman of the SNB governing board and a new person in his place will be appointed at the earliest.
The Swiss National Bank is the central bank of Switzerland. The bank is in charge of the Swiss monetary policy and for issuing Swiss franc bank notes. It has two head offices based in Bern and in Zurich.
