Friday, 27 November 2015
Last updated 1 day ago
Jun 13 2012 | 11:46am ET
BlackRock has snapped up the former governor of the Swiss central bank, Philipp Hildebrand.
Hildebrand, who resigned from the bank in January amid a firestorm over his wife’s currency trades, will become a London-based vice chairman of the private equity giant, reports the Wall Street Journal.
In his new role, Hildebrand will focus on working with large institutional clients in Europe, the Middle East and Asia Pacific and report to BlackRock chairman and chief executive, Laurence Fink.
Prior to his nine-year stint with the Swiss National Bank (the last two as chairman) Hildebrand was a partner at hedge fund Moore Capital Management and chief investment officer at Switzerland's Vontobel Group and Union Bancaire Privé.
Last year, Hildebrand's wife Kashya, a former trader who now has an art gallery in Zurich, bought $400,000 with Swiss francs three weeks before the SNB promised unlimited intervention to keep the franc from rising above 1.20 versus the euro.
At the time, Hildebrand said he’d learned of the trade only after the fact but could not provide "conclusive and final evidence that my wife did initiate the transaction without my knowledge,” for which reason he resigned.
A subsequent SNB investigation revealed Hildebrand himself had made no unauthorized trades.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…