Bloomberg News

Hildebrand to Get Year’s Pay After Leaving Swiss National Bank

January 12, 2012

Jan. 11 (Bloomberg) -- Former Swiss National Bank Chairman Philipp Hildebrand will get 12 months’ pay after leaving the country’s central bank, the SNB said.

Half the money covers Hildebrand’s regular severance pay, and the other half is to compensate him for a clause in his contract that bans him from taking another banking job for the next six months, SNB spokeswoman Silvia Oppliger said today in an e-mailed statement.

Hildebrand can’t join a “major Swiss bank” for a year, the statement said.

To contact the editor responsible for this story: Paul Verschuur at pverschuur@bloomberg.net


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