Swiss prosecutor has opened an investigation into former Swiss National Bank (SNB) chairman Philipp Hildebrand in connection with possible violations of secrecy laws, after receiving an undisclosed complaint.
Hildebrand, most recently vice chairman at the fund management firm Blackrock was forced to step down from his role at SNB in January 2012, after disclosures that his wife had made more than CHF60,000 (US$65,000) on a currency transaction either side of moves by the SNB to curb the dramatic appreciation of the Franc in late 2011.
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The office of the attorney-general has confirmed that an investigation had been opened following contact with the prosecutor’s office in Zürich, but declined to give any details of its content.
Hildebrand resigned from SNB after he failed to prove he had not been involved in lucrative currency trades by his wife just weeks before he oversaw the introduction of a cap on the Swiss franc’s value in 2011.
"The probe involves a complaint regarding violation of Swiss federal secrecy laws brought by a private person in July 2012, and the pending proceedings were not initiated by the attorney general," BlackRock spokesman Marc Bubeck said in a statement.
"Hildebrand absolutely rejects any allegations of wrongdoing and is providing the Attorney General with whatever assistance is necessary to resolve this matter. The allegations related to a period prior to Hildebrand’s joining BlackRock," Bubeck added.
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