RBNZ Governor Alan Bollard to Step Down This Year

The Reserve Bank of New Zealand Governor, Alan Bollard, has announced that he will be stepping down as Governor when his current term ends on the 25th of September this year.  Dr Bollard was appointed in September 2002, and is currently in his second five-year term.  The Chair of the Reserve Bank Board, Dr Arthur Grimes, noted that the Board will be searching in New Zealand and abroad to identify a successor to Dr Bollard.  The Governor of the Reserve Bank is appointed by the Minister of Finance on the recommendation of the Board.  

Swiss National Bank Chairman Hildebrand Resigns

The Swiss National Bank announced that Chairman, Philipp Hildebrand, "is resigning from his office as Chairman of the Governing Board of the Swiss National Bank" with immediate effect.  The SNB Governing Board also noted that it would continue its policy of a minimum exchange rate of CHF 1.20 against the Euro, with "utmost determination".  Hildebrand's resignation followed allegations that his wife had acted on insider information about an impending SNB policy move in regards to foreign exchange transactions.  Vice Chairman, Thomas Jordan, will hold the position of Chairman in the interim.

Jürgen Stark Resigns From Position at ECB

The European Central Bank (ECB) has announced the resignation of key ECB official, Jürgen Stark.  The Bank said in the announcement: "Today, Jürgen Stark, Member of the Executive Board and Governing Council of the European Central Bank (ECB), informed President Jean-Claude Trichet that, for personal reasons, he will resign from his position prior to the end of his term of office on 31 May 2014. Mr Stark will stay on in his current position until a successor is appointed, which, according to the appointment procedure, will be by the end of this year. He has been a Member of the Executive Board and Governing Council since 1 June 2006."