Lengwiler Calls for Diversity and External Perspectives on SNB Board; Criticizes Schlegel’s Appointment as Well.

Martin Schlegel, the newly appointed SNB President, has faced criticism from Yvan Lengwiler, a professor of economics at Basel University. Lengwiler believes that the board of directors lacks diversity and experience, weakening the leadership team. He has repeatedly called for people from outside the central bank to be elected to the board of directors, as he believes it is essential for a stronger leadership team.

Lengwiler specifically criticizes Schlegel’s appointment, stating that his involvement in the CS crisis and his entire career spent at the SNB may not bring the necessary external perspective to the role. He questions the decision-making process and transparency around Schlegel’s appointment.

While Lengwiler does not have a personal issue with Schlegel, he raises concerns about the lack of diversity and external perspectives on the SNB’s Executive Board. He believes that having a more diverse board would strengthen the SNB’s decision-making process and ensure a broader range of perspectives are considered.

Lengwiler emphasizes the importance of accountability and transparency within the SNB, citing examples of shortcomings in governance and decision-making processes. He also raises concerns about the distribution of profits and the SNB’s independence, highlighting the need for reforms within