Swiss central bank bemoans exit of 'outstanding' chief

The Swiss National Bank (SNB) said last night it had lost an "outstanding" central banker after Philipp Hildebrand resigned over the scandal surrounding his wife's currency dealings.

Hildebrand said in a statement he was quitting his post ahead of a planned grilling by politicians. He has been under pressure to resign after an anonymous whistleblower revealed that his wife, a former hedge fund trader, bought CHF400,000 worth of US dollars on 15 August last year. The trade came just three weeks before the SNB announced it would defend a floor for the franc at CHF1.20 to the euro, a move which saw the franc's value drop sharply. Safe haven flows meant the franc had been moving nearer parity with the euro last summer, to the detriment of the Swiss economy. K...