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Martin Schlegel

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Martin Schlegel
Schlegel in 2020
Born
Martin Reto Schlegel

(1976-08-20) 20 August 1976 (age 48)
Alma mater
TitleChairman of the Governing Board of the Swiss National Bank
Term2024–present
PredecessorThomas Jordan
Board member of
[1]
SpouseNicole Brändle
Children3

Martin Schlegel (born 20. August 1976)[2] is a Swiss economist and Chairman of the Governing Board of the Swiss National Bank (SNB).[1]

Education and business career

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Martin Schlegel studied economics at the University of Zurich and completed his studies in 2003 with a master's degree.[1][3] Subsequently, he joined the Research Unit at the SNB followed by positions in the SNB's Financial Market Analysis and Money Market units. While working, he obtained a doctorate in economics from the University of Basel in 2009.[1][4] Since 2010, he has been an adjunct professor at the University of Basel.[5] In the years 2015 and 2016 Schlegel also worked as an expert for the International Monetary Fund.[5]

After a proposal from the SNB's Bank Council, Schlegel was appointed as an Alternate member of the SNB's Governing Board by the Swiss Federal Council in June 2018.[3][6] In May 2022, the Federal Council appointed Schlegel as the Vice-Chairman of the Governing Board of the Swiss National Bank. This also made him Head of Department II of the SNB.[7][8] Later that year he was a speaker at the Forum for Financial Market Stability held by the Financial Market Authority Liechtenstein.[9]

In an interview in October 2023 Schlegel, talking about the Acquisition of Credit Suisse by UBS, said: "We don't have a mandate to rescue a bank."[10]

After the announcement of Thomas Jordans resignation in March 2024,[11] Schlegel was seen as the favourite for his position as Chairman of the SNB.[12][13][14] On 26 June 2024 the Federal Council elected Schlegel as the new Chairman following the recommendation of the Governing Board.[15][16] He assumed the position on 1 October 2024.[17]

Personal life

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Schlegel is married to Nicole Brändle, who's the current director of HotellerieSuisse,[18] but will step down in June 2025 to avoid giving the impression of a conflict of interest with Schlegels promotion to director.[19] They have 3 children together.[12]

Publications

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  • Schlegel, Martin (2009). Implementation of Monetary Policy and the Money Market (Dr. rer. pol thesis). University of Basel.[4]
  • Kraenzlin, Sébastien; Schlegel, Martin (1 March 2012). "Bidding behavior in the SNB's repo auctions". Journal of International Money and Finance. 31 (2): 170–188. doi:10.1016/j.jimonfin.2011.10.001. S2CID 18708525.
  • Kraenzlin, Sébastien; Schlegel, Martin (27 December 2012). "Demand for reserves and the central bank's management of interest rates". Swiss Journal of Economics and Statistics. 148 (4): 532–555. doi:10.1007/BF03399377. hdl:10419/186011. ISSN 2235-6282. S2CID 53970950.
  • Jäggi, Adrian; Schlegel, Martin; Zanetti, Attilio (23 May 2019). "Macroeconomic surprises, market environment, and safe-haven currencies". Swiss Journal of Economics and Statistics. 155 (1). doi:10.1186/s41937-019-0031-9. hdl:10419/259729. ISSN 2235-6282. S2CID 257086235.

References

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  1. ^ a b c d e "Martin Schlegel, Chairman of the Governing Board, Zurich". Swiss National Bank. Retrieved 7 October 2024.
  2. ^ Mehl, Matthias (25 August 2024). "Der Hüter des Frankens". Bilanz (in German). Retrieved 26 November 2024.
  3. ^ a b "Federal Council appoints Martin Schlegel as new Alternate Member of the SNB Governing Board" (PDF) (Press release). Berne/Zurich: Swiss National Bank. 4 July 2018. Archived (PDF) from the original on 19 March 2023.
  4. ^ a b "UNIverse Research Portal of the UNIversity of Basel". University of Basel. Retrieved 26 July 2024.
  5. ^ a b Farine, Mathilde (4 May 2022). "La BNS choisit un homme du sérail pour succéder à Fritz Zurbrügg" [SNB chooses an insider to succeed Fritz Zurbrügg]. Le Temps (in French). ISSN 1423-3967. Retrieved 11 June 2024.
  6. ^ Hughes Neghaiwi, Brenna (4 July 2018). Revill, John (ed.). "Swiss National Bank appoints new alternate governing board member". Reuters. Retrieved 7 July 2023.
  7. ^ "Bundesrat ernennt Martin Schlegel zum neuen SNB-Vizepräsident". Watson (in German). 4 May 2022. Retrieved 23 June 2023.
  8. ^ "Martin Schlegel wird Vizepräsident der Nationalbank". Neue Zürcher Zeitung (in Swiss High German). 4 May 2022. ISSN 0376-6829. Retrieved 4 August 2023.
  9. ^ Schlegel, Martin (29 November 2022). "Popular, but under pressure – cash in the digital age" (PDF). Swiss National Bank. S2CID 254852271. Retrieved 23 June 2023.
  10. ^ Martin, Schlegel (28 October 2023). "SNB-Vize Martin Schlegel: «Wir haben kein Mandat, eine Bank zu retten»" (Interview) (in Swiss High German). Blick. Archived from the original on 29 October 2023. Retrieved 6 November 2023. Wir haben kein Mandat, eine Bank zu retten
  11. ^ "Thomas Jordan: SNB-Präsident tritt Ende September zurück" [Thomas Jordan: SNB Chairman to step down at the end of September]. Nau.ch (in German). 1 March 2024. Retrieved 1 March 2024.
  12. ^ a b Fuster, Thomas (8 March 2024). "Martin Schlegel ist der Favorit für die Nachfolge von Thomas Jordan bei der SNB" [Martin Schlegel is the favorite to succeed Thomas Jordan at the SNB]. Neue Zürcher Zeitung (in Swiss High German). ISSN 0376-6829. Retrieved 6 June 2024.
  13. ^ "Mehrere SNB-Experten sehen Martin Schlegel als Jordan-Nachfolger" [Several SNB experts see Martin Schlegel as Jordan's successor]. Watson (in German). 1 March 2024. Retrieved 6 June 2024.
  14. ^ Rohner, Peter (1 March 2024). "Jordans Nachfolger? Martin Schlegel – SNB-Chef in spe" [Jordan's successor? Martin Schlegel - SNB boss-to-be]. Handelszeitung (in Swiss High German). Retrieved 6 June 2024.
  15. ^ "Federal Council appoints Martin Schlegel as Chairman of SNB Governing Board" (Press release). Federal Council. 26 June 2024. Retrieved 12 July 2024.
  16. ^ "SNB Governing Board: Martin Schlegel to become Chairman, Antoine Martin Vice Chairman and Petra Tschudin new Member" (Press release). Swiss National Bank. 26 June 2024. Retrieved 12 July 2024.
  17. ^ Revill, John (30 September 2024). "New Swiss central bank chief takes charge in shadow of Credit Suisse trauma". Reuters. Retrieved 9 October 2024.
  18. ^ "Nicole Brändle wird neue Direktorin von HotellerieSuisse". htr hotelrevue (in German). 30 January 2024. Retrieved 6 June 2024.
  19. ^ Gilb, Christopher (5 September 2024). "Interessenskonflikt: Neue Hotelleriesuisse Direktorin tritt zurück wegen ihres Mannes". Tages-Anzeiger (in German). Retrieved 6 September 2024.
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