Thomas Jordan, the head of Switzerland’s central bank, will be stepping down in September after serving for 12 years, according to an announcement made by the bank on Friday.
The Bank Council and the Governing Board thanked him for his dedicated service in maintaining a stable monetary policy.
No specific reason was given for his decision, but the bank wished him well for his future endeavors.
Jordan, who was born in 1963, joined the bank in 1997 and became a member of the governing board in 2007. During his tenure as the head of the board in 2012, the central bank changed its approach and stopped actively preventing the Swiss franc from appreciating against the euro.
In 2023, Jordan played a crucial role in managing the crisis at Credit Suisse, working alongside the government and regulators to facilitate its acquisition by fellow Swiss bank UBS.
