Members of the Governing Board
Thomas J. Jordan, Chairman of the Governing Board, Zurich
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. He lectures there 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 of the Economic Studies unit, 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 unit 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 (Economic Affairs, International Monetary Cooperation, Legal and Property Services, Secretariat General). He was Chairman of the Board of Directors of the SNB’s ‘StabFund’, the stabilisation fund, from its foundation in 2008 until it was wound up in 2013.
Thomas J. Jordan is a member of the Board of Directors of the Bank for International Settlements (BIS) in Basle and the Steering Committee of the Financial Stability Board (FSB). He is the Governor of the International Monetary Fund (IMF) for Switzerland, and also Chairman of the G10 Central Bank Counterfeit Deterrence Group (CBCDG). Thomas J. Jordan is a Board member of a foundation whose aim is to promote a master’s course in law and economics at the University of St Gallen, a member of the Board of Trustees of the ETH Zurich Foundation, as well as President of the foundation Board of the International Center for Monetary and Banking Studies (ICMB) in Geneva. He has published numerous articles on monetary theory and policy in leading international journals.
Relevant affiliations in the past five years
Fritz Zurbrügg, Vice Chairman of the Governing Board, Berne
Fritz Zurbrügg was born in Zurich in 1960. He studied economics at the University of Berne, completing his degree in 1985 and his doctorate in 1989.
Also in 1989, Fritz Zurbrügg joined the Federal Finance Administration (FFA) in Berne. From 1992 to 1994, he worked for the International Monetary Fund (IMF) in Washington as an economist in the Africa Department, before returning to the FFA and assuming leadership of the ‘IMF and International Finance’ section. From 1998 to 2006, he was Senior Advisor and Executive Director for Switzerland at the IMF in Washington, and represented the interests of Switzerland as well as those of Azerbaijan, the Kyrgyz Republic, Poland, Serbia/Montenegro, Tajikistan, Turkmenistan and Uzbekistan on the Executive Board. After returning to Berne, he headed the Fiscal Policy, Fiscal Equalisation and Financial Statistics section of the Federal Finance Administration. In April 2010, he was appointed Director of the Federal Finance Administration by the Federal Council. His responsibilities included drawing up the Confederation budget and financial plan, the implementation of the debt brake, as well as liquidity and debt management for the Confederation. He also represented Switzerland in domestic and international committees of experts on financial policy.
Effective August 2012, the Federal Council appointed Fritz Zurbrügg as Member of the SNB’s Governing Board. At the same time, he became Head of Department III (Financial Markets, Banking Operations and Information Technology). With effect from 1 July 2015, the Federal Council appointed him Vice Chairman of the Governing Board. With this position, he also took over management of Department II (Financial Stability, Cash, Finance and Risk) in Berne.
Relevant affiliations since taking up office in 2012
Andréa M. Maechler, Member of the Governing Board, Zurich
Andréa M. Maechler was born in Geneva in 1969. She studied economics at the University of Toronto, and then at the Graduate Institute of International Studies in Geneva, where she obtained her Master’s in International Economics. Following a period of study at the Institute of Advanced Studies in Public Administration in Lausanne, she obtained her PhD in International Economics from the University of California, Santa Cruz in 2000.
Andréa M. Maechler’s early career took her to the Organisation for Economic Co-operation and Development (OECD), the United Nations Conference on Trade and Development (UNCTAD) and the World Trade Organization (WTO). From 1999 to 2001, she worked as an economist in the Swiss National Bank’s (SNB) Financial Stability unit in Zurich. She then moved to the International Monetary Fund (IMF), where she occupied a number of senior positions in the Africa, Monetary and Capital Markets, Western Hemisphere and Strategy, Policy and Review departments. From 2012 to 2014, during a sabbatical from the IMF, she worked for the European Systemic Risk Board (ESRB) in Frankfurt. Upon returning to the IMF, she was appointed as Deputy Division Chief in the Global Markets Analysis Division. The functions of this division include monitoring global capital markets, and assessing systemic risks and the macrofinancial impact of capital market developments.
With effect from 1 July 2015, the Federal Council appointed Andréa M. Maechler as Member of the SNB’s Governing Board – the first woman to occupy a Board position. At the same time, she became Head of Department III (Financial Markets, Banking Operations and Information Technology).
Relevant affiliations since taking up office in 2015