Former Swiss central bank head Hildebrand joins BlackRock
EUROPE - Philipp Hildebrand, the former chairman of the Swiss National Bank, will join BlackRock in October as vice-chairman for client relationships.
As part of his new role, Hildebrand will oversee institutional client relationships in the EMEA and Asia Pacific regions, reporting directly to company chair and chief executive Laurence Fink, who praised the former central banker's "judgment and integrity".
Hildebrand resigned from his previous role as chairman of the Swiss National Bank in January after it was revealed that his currency trader wife Kashya Hildebrand executed a number of personal trades weeks before a cap on the franc price was introduced.
He will be based in BlackRock's London office and serve as a member of the global executive committee, as well as its EMEA and Asia Pacific counterparts.
Commenting on the appointment, Fink said: "Few leaders are as widely respected for their expertise, judgment and integrity as Philipp Hildebrand.
"He embodies superb qualities of intellect and character that are critical to earning our role as a trusted adviser to our clients."
Hildebrand has nearly two decades of experience, being appointed as chair of the central bank in 2010 after seven years on its governing board.
Previously, he also served as director of the Bank for International Settlements and was vice-chairman of the Financial Stability Board, as well as acting as chief investment officer at both Union Bancaire Privée and Vontobel Group.