Reuters: Regulatory News: Ex-Swiss bank chairman taking new role at Blackrock-FT

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Ex-Swiss bank chairman taking new role at Blackrock-FT Jun 12th 2012, 23:25 LONDON, June 13 | Tue Jun 12, 2012 7:25pm EDT LONDON, June 13 (Reuters) - The former chairman of the Swiss National Bank Philipp Hildebrand, who quit in a currency trading scandal in January, is joining BlackRock as vice-chairman, the Financial Times reported. Hildebrand will be based in London and will report directly to Laurence Fink, chairman and chief executive officer at BlackRock, when he starts in October. His role will be to deal with large clients in Europe, Middle East, Africa and Asia, rather than handle government or political affairs, the newspaper reported in its Wednesday edition. "Few leaders are as widely respected for their expertise, judgment and integrity as Philipp Hildebrand," Fink is cited as saying in the article. Hildebrand was apparently forced out of his former role when emails failed to clear him of involvement in a currency trade by his wife three weeks before he oversaw the introduction of a cap on the Swiss franc's value. Hildebrand, a former hedge fund manager who controlled his own portfolio, was later found by a SNB commissioned audit not to have broken the Swiss Bank's old rules.

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