Ex-Hedge Funder Apologizes For Husband's Downfall

Jan 13 2012 | 1:07am ET

Former Moore Capital Management trader Kashya Hildebrand has apologized for the currency trades that led to her husband's downfall as head of Switzerland's central bank.

Philipp Hildebrand resigned on Monday amidst an uproar over his wife's purchase of dollars just weeks before Hildebrand's Swiss National Bank took decisive action to weaken the Swiss franc. Word of Kashya Hildebrand's trade was leaked by a now-former Bank Sarasin employee to her husband's political enemies.

"This was obviously a mistake," Kashya Hildebrand said during a televised interview of her August currency trade. "The far-right was making headlines, there was pressure on my husband to lose his job, the last thing that man was thinking about was his private portfolio."

"What breaks my heart is that his credibility is now being stained," Hildebrand said of her husband. "There was an error of judgment. He should have never let me do that transaction, and upon reflection that transaction should have been reversed."

"Had I known what maelstrom I caused for this country, I really—from the bottom of my heart—I apologize to the Swiss people, to the politicians who have been distracted from what's important and more importantly to my husband, because he's a great man, he's done a great job," she continued.

Hildebrand now runs an art gallery in Zürich, and denied that she would have bought dollars if she knew the SNB's plan to cap the franc's value against the euro.

"Why not trade the targeted currency?" she asked. "It's euro-Swiss."


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note