Martin Schlegel will assume the role of chairman of the Swiss National Bank (SNB) on October 1, following the departure of Thomas Jordan. Schlegel, 47, has been with the SNB since 2003 and vice chairman since 2022. Jordan, who has led the SNB since 2012, guided the bank through challenges such as the Covid-19 pandemic and the Credit Suisse crisis. The Federal Council praised Jordan for his contributions to maintaining monetary stability and preventing economic damage. Recently, the SNB made headlines as the first major Western central bank to cut interest rates in March after a series of hikes to control inflation.