SNB chairman Jordan to step down at end of September

Credit: REUTERS/DENIS BALIBOUSE

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ZURICH, March 1 (Reuters) - Swiss National Bank Chairman Thomas Jordan will step down at the end of September, the central bank said on Friday,after more than 12 years at the helm.

The 61-year-old has led the central bank since January 2012 during a tumultuous time shaped by a string of crises and an almost constant battle against the appreciating Swiss franc.

In 2015 the SNB upended currency markets by suddenly scrapping the minimum exchange rate against the euro, a move which sent the safe haven currency soaring.

In recent years Jordan has overseen a successful attempt to combat inflation, with price rises in Switzerland significantly lower than in other parts of the world.

Last year he was involved in the SNB's provision of emergency liquidity to ease the takeover of Credit Suisse by UBS.

The SNB said in a statement it regretted Jordan's surprise decision.

"The Bank Council and the Governing Board greatly regret Thomas Jordan's decision, and express their sincere thanks for his many years of outstanding commitment," the SNB said.

(Reporting by Dave Graham and John Revill Editing by Miranda Murray)

((John.Revill@thomsonreuters.com; +41 41 528 36 37; Reuters Messaging: john.revill.thomsonreuters.com@reuters.net))

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