Switzerland's Reforms of Its Financial Regulatory Process

Philipp M. Hildebrand, chairman of the governing board of the Swiss National Bank, discussed Switzerland’s financial regulatory reforms at an event held at the Institute on April 22, 2010. The Swiss initiatives may have valuable lessons for the United States and other countries as they pursue their own regulatory reform agendas, given the size and importance of large banks in Switzerland.

Philipp M. Hildebrand became chairman of the governing board at the Swiss National Bank, as well as head of the Bank’s Department I (Economic Affairs, International Affairs, Legal and Property Services), on January 1 of this year. He was initially appointed to the governing board in 2003 and became its vice chairman in 2007. He is a member of the board of directors of the Bank for International Settlements, represents Switzerland on the Financial Stability Board, and is a former chairman of the Deputies of the Group of Ten. He had previously been a partner at Moore Capital Management, one of the largest hedge funds in the world (1995–99), and chief investment officer of the Vontobel Group in Zurich (2000–2001) and Union Bancaire Privée (2001–03).