The Swiss Federal Council has elected Antoine Martin, a seasoned specialist from the US Federal Reserve, as a member of the governing board at the Swiss National Bank (SNB). The council’s decision came following a proposal from the SNB’s banking council. Martin, who will succeed Andréa Maechler, is set to assume his new role at the start of 2024.
Martin will complete the SNB’s governing board triumvirate, taking over from Maechler who resigned on June 30 this year. Maechler subsequently assumed the position of deputy general manager at the Bank for International Settlements (BIS) in Basel in September.
In his new role at the SNB, Martin will oversee Department III, which handles money markets, foreign exchange, asset management, banking operations, and information technology.
Martin is currently a research advisor for financial stability policy research at the Federal Reserve Bank of New York. His professional career includes tenures at the Federal Reserve Bank of Kansas City and various leadership positions at the Federal Reserve Bank of New York since 2005.
The Federal Council expressed its confidence in Martin’s capabilities citing his extensive experience with central bank concerns and practical knowledge in monetary policy. “Thanks to his many years of Federal Reserve Bank work, Antoine Martin is familiar with the concerns of a central bank and has sound, practical experience in the field of monetary policy. He has also addressed the challenges of a central bank in numerous academic analyses and research papers,” said the council in its announcement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Source: Investing.com
