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Jakob Schaad to head Swiss Bankers Association’s (SBA) International Financial Markets Department

Jakob Schaad (1964) is to be the new head of the Swiss Bankers Association’s International Financial Markets Department, taking over from Claude-Alain Margelisch who since mid-September has been the Swiss Bankers Association’s Chief Executive Officer. The search for a new head started in early September. Jakob Schaad’s previous post was Economic Policy Advisor to Federal Councillor Doris Leuthard, the President of Switzerland. Before that his professional career included various posts at the Swiss National Bank and the job of Senior Advisor to Switzerland’s Executive Director at the International Monetary Fund in Washington. Jakob Schaad holds a doctorate in economics from the University of Zurich. Claude-Alain Margelisch welcomed the appointment: “We are grateful that Jakob Schaad is joining our team. He has a strong track-record of professional achievements and the SBA will benefit from his international experience, language skills and technical know-how.” Mr. Schaad will take up his new post on 1 March 2011.