The SNB’s supervisory and executive bodies

Learn all about the function and composition of the SNB’s Governing Board, Enlarged Governing Board and Bank Council here.

The SNB’s Governing Board

The Governing Board is the SNB's highest management and executive body. Its three members are appointed for a six-year term by the Federal Council on the recommendation of the Bank Council. The Governing Board is responsible, in particular, for monetary policy, asset management strategy, contributing to the stability of the financial system, and international monetary cooperation.

 

Thomas J. Jordan was born in Bienne, Switzerland, in 1963. He studied economics and business studies at the University of Berne, completing his degree in 1989 and his doctorate in 1993. He wrote his post-doctoral thesis (Habilitation) during a three-year post-doctoral research period at the Department of Economics at Harvard University in Cambridge, Massachusetts, USA. The University of Berne appointed him lecturer (Privatdozent) in 1998 and honorary professor in 2003. In 2017, he received an honorary doctorate from the University of Basel. Thomas J. Jordan lectures in monetary theory and policy.

In 1997, Thomas J. Jordan joined the Swiss National Bank (SNB) in Zurich as an Economic Advisor in Department I. Two years later, he was appointed Assistant Director, and in 2002 he became Head of the Research unit. At the beginning of 2004, he was promoted to Director. With effect from mid-2004, the Swiss Federal Council appointed him an Alternate Member of the Governing Board. In this function, he headed the Financial Markets division in Department III (Money Market and Foreign Exchange, Asset Management, Risk Management and Financial Market Analysis). Effective May 2007, he was appointed Member of the Governing Board by the Federal Council. At the same time, he became Head of Department III (Financial Markets, Banking Operations and Information Technology). With effect from the beginning of 2010, the Federal Council appointed him Vice Chairman of the Governing Board and he took over management of Department II in Berne (Financial Stability, Cash, Finance and Risk). On 18 April 2012, Thomas J. Jordan was appointed Chairman of the Governing Board by the Federal Council and thereby also Head of Department I in Zurich (Secretariat General, Economic Affairs, International Monetary Cooperation, Statistics, Legal Services, Compliance, Internal Audit, Human Resources, Premises and Technical Services). He was Chairman of the Board of Directors at the SNB's stabilisation fund for UBS ('StabFund') from its foundation in 2008 until it was wound up in 2013.

Thomas J. Jordan is a member of the Board of Directors at the Bank for International Settlements (BIS) in Basel and chairs the BIS's Banking and Risk Management Committee. He is the Governor for Switzerland at the International Monetary Fund (IMF), represents Switzerland in the Plenary and the Steering Committee of the Financial Stability Board (FSB), and is Chair of the FSB's Standing Committee on Budget and Resources (SCBR). Thomas J. Jordan is a member of the Advisory Board of the Department of Economics at the University of Zurich as well as a member of the Board of Trustees at the ETH Zurich Foundation. He has published numerous articles on monetary theory and policy in leading international journals.

Relevant affiliations in the past five years

None

Martin Schlegel, born in 1976, graduated in economics from the University of Zurich in 2003, and thereafter joined the Research unit at the SNB. From 2004 to 2009, he worked as an economist in the Financial Market Analysis and Money Market units. He received his doctorate in economics from the University of Basel in 2009.

In the same year, Martin Schlegel took over as head of the SNB's Foreign Exchange and Gold unit. In 2016, he was appointed head of the SNB's branch office in Singapore. From 2011 to 2018, he was a member of the Investment Committee at the SNB. From 2010 to 2022, Martin Schlegel lectured in applied monetary policy at the University of Basel. From 2015 to 2016, he served as an expert on projects for the International Monetary Fund.

With effect from 1 September 2018, the Swiss Federal Council appointed Martin Schlegel as Alternate Member of the Governing Board in Department I (Secretariat General, Economic Affairs, International Monetary Cooperation, Statistics, Legal Services, Compliance, Internal Audit, Human Resources, Premises and Technical Services) in Zurich.

With effect from 1 August 2022, the Swiss Federal Council appointed Martin Schlegel as Vice Chairman of the Governing Board, and thereby also Head of Department II (Financial Stability, Cash, Risk Management, Accounting, Controlling, Operational Risk and Security) in Berne.

Martin Schlegel is a member of the Executive Committee of the KOF Swiss Economic Institute at ETH Zurich, a member of the Executive Board of the Schweizerische Gesellschaft für Konjunkturforschung (SGK), and the president of the Foundation Council of the Study Center Gerzensee.

Relevant affiliations since taking up office in 2022

None

Antoine Martin, born in 1969, graduated in economics from the University of Lausanne and received his Ph.D. from the University of Minnesota. He began his career with the Federal Reserve Bank of Kansas City in 2001. Four years later he moved to the Federal Reserve Bank of New York, where he went on to hold various leadership positions, for example in the Research and Statistics Group and the Money and Payments Studies Function. He held leadership positions as Senior Vice President from 2016 to 2022, and as Financial Research Advisor on Financial Stability Policy Research from 2022 to 2023.

With effect from 1 January 2024, the Federal Council appointed Antoine Martin as the new Member of the Governing Board of the Swiss National Bank, and thereby also Head of Department III (Money Market and Foreign Exchange, Asset Management, Banking Operations and Information Technology, as well as the Singapore branch office) in Zurich.

Relevant affiliations since taking up office in 2024

None

Enlarged Governing Board

The Enlarged Governing Board is made up of the three Governing Board members and their deputies. It issues the strategic guidelines for the SNB's business operations. The Board of Deputies is responsible for the planning and implementation of the strategic guidelines for the SNB's business operations. It ensures coordination in all operational matters of interdepartmental importance.

Petra Tschudin, born in 1975, obtained a Doctorate in Economics at the University of Basel in 2002. After assignments abroad, she joined the SNB's research department as an economist in 2004. From 2005 to 2009, she also held a lectureship in applied monetary policy at the University of Basel, where she completed her post-doctoral studies (Habilitation) in 2007. Between 2009 and 2011, Petra Tschudin worked as an economist at the Bank for International Settlements. From 2011 to 2014, she conducted research in Dublin as an Associate Research Professor at the Economic and Social Research Institute, and taught at Trinity College. Having returned to the SNB and held various positions, Petra Tschudin was appointed Head of the Monetary Policy Analysis unit in 2017. Monetary Policy Analysis assesses the impact of monetary policy and researches monetary policy issues. In 2021, she became Deputy Head of the SNB's Economic Affairs division.

The Swiss Federal Council appointed Petra Tschudin to the position of Alternate Member of the Governing Board in Department I (Secretariat General, Economic Affairs, International Monetary Cooperation, Statistics, Legal Services, Compliance, Internal Audit, Human Resources, and Premises and Technical Services) in Zurich with effect from 1 August 2022.

Relevant affiliations since taking up office in 2022

None

Attilio Zanetti, born in 1969, studied economics at the University of Fribourg and completed his doctorate in 2001. In 1994, he joined the Swiss National Bank's Economic Affairs division. From 2002 to 2008, he was Head of the Economic Analysis Switzerland team within the Economic Analysis unit. In 2008, he was appointed Head of the Economic Analysis unit. From 2010, he also took over the leadership of the SNB's delegates for regional economic relations. In addition to these responsibilities, Attilio Zanetti held lectureships in macroeconomics and monetary policy at the University of Basel between 2008 and 2019. As a Visiting Scholar, he also spent time at the Federal Reserve Bank of San Francisco and the International Monetary Fund. In 2020, Attilio Zanetti was appointed Head of the SNB's International Monetary Cooperation division. The International Monetary Cooperation division is responsible for managing cooperation with other central banks as well as multilateral institutions and authorities.

The Swiss Federal Council appointed Attilio Zanetti to the position of Alternate Member of the Governing Board in Department I (Secretariat General, Economic Affairs, International Monetary Cooperation, Statistics, Legal Services, Compliance, Internal Audit, Human Resources, and Premises and Technical Services) in Zurich with effect from 1 August 2022.

Relevant affiliations since taking up office in 2022

None

Dewet Moser, born in 1960, obtained an economics degree (Lizenziat) from the University of Basel in 1985. In 1986, he joined the Swiss National Bank in Zurich, where he assumed a variety of roles. From 1997 on, he was entrusted with establishing and leading the SNB's risk management operations.

In December 2006, the Swiss Federal Council appointed Dewet Moser Alternate Member of the Governing Board in Department III. As of 1 September 2018, he moved to take up the same position in Department II, where he is responsible for the operational management of the Financial Stability and Cash divisions as well as the Central Accounting, Controlling, Risk Management, and Operational Risk and Security units.

Relevant affiliations in the past five years

None

Thomas Moser, born in 1967, concluded his university studies in 1997 with a Doctorate in Economics from the University of Zurich. From 1994 to 1996, he was employed as a teaching and research assistant at the University of Zurich's Institute for Empirical Research in Economics, and from 1996 to 1999, as an economist at the KOF Swiss Economic Institute (formerly Swiss Institute for Business Cycle Research) at ETH Zurich.

In 1999, he joined the SNB as a senior economist in the International Monetary Relations unit. He was in Washington from 2001 to 2004, working first as Advisor to the Swiss Executive Director at the International Monetary Fund (IMF) and then, from 2002, as Senior Advisor. After returning to Switzerland in 2004, he took up a position as Assistant Director and Deputy Head of the International Research and Technical Assistance unit at the SNB in Zurich. From early May 2006 to the end of 2009, he was Executive Director of the IMF constituency in Washington headed by Switzerland.

The Swiss Federal Council appointed Thomas Moser Alternate Member of the Governing Board in Department I with effect from the beginning of 2010. As of 1 September 2018, he moved to take up the same position in Department III, where he is responsible for the operational management of the Money Market and Foreign Exchange, Asset Management, Banking Operations, and Information Technology divisions, as well as for the Financial Market Analysis unit and the Singapore branch office.

Thomas Moser is a member of the Managing Committee of the Swiss Institute of Banking and Finance at the University of St Gallen and a member of the Advisory Board of the Swiss International Finance Forum SIFF.

Relevant affiliations in the past five years

Member of the Board of Directors and the Compensation Committee of Orell Füssli Holding Ltd (since 2014)

The SNB’s Bank Council

The Bank Council oversees and monitors the conduct of business by the SNB. The term of office of the Bank Council members is four years, and the maximum tenure may not exceed twelve years.

The ‘Salon bleu’, one of the meeting rooms at the Berne head office

The composition of the Bank Council

The Federal Department of Finance (FDF) and the Swiss National Bank (SNB) have a Memorandum of Understanding (MoU) on the set of principles governing membership of the SNB Bank Council. The aim of the MoU is to ensure that the specialised abilities and qualities that are important for the SNB are maintained in the Bank Council at all times.

Barbara Janom Steiner, President of the Bank Council Barbara Janom Steiner, President of the Bank Council
Barbara Janom Steiner, President of the Bank Council
Romeo Lacher, Vice President of the Bank Council Romeo Lacher, Vice President of the Bank Council
Romeo Lacher, Vice President of the Bank Council
Vania Alleva, Member of the Bank Council Vania Alleva, Member of the Bank Council
Vania Alleva, Member of the Bank Council
Christoph Ammann, Member of the Bank Council Christoph Ammann, Member of the Bank Council
Christoph Ammann, Member of the Bank Council
Rajna Gibson Brandon, Member of the Bank Council Rajna Gibson Brandon, Member of the Bank Council
Rajna Gibson Brandon, Member of the Bank Council
Christoph Lengwiler, Member of the Bank Council Christoph Lengwiler, Member of the Bank Council
Christoph Lengwiler, Member of the Bank Council
Christoph Mäder, Member of the Bank Council Christoph Mäder, Member of the Bank Council
Christoph Mäder, Member of the Bank Council
Shelby R. du Pasquier, Member of the Bank Council Shelby R. du Pasquier, Member of the Bank Council
Shelby R. du Pasquier, Member of the Bank Council
Angelo Ranaldo, Member of the Bank Council Angelo Ranaldo, Member of the Bank Council
Angelo Ranaldo, Member of the Bank Council
Cornelia Stamm Hurter, Member of the Bank Council Cornelia Stamm Hurter, Member of the Bank Council
Cornelia Stamm Hurter, Member of the Bank Council
Christian Vitta, Member of the Bank Council Christian Vitta, Member of the Bank Council
Christian Vitta, Member of the Bank Council

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