BIS Board elects Christian Noyer as new Chairman

The Board of Directors of the Bank for International Settlements (BIS) elected as its new Chairman, Christian Noyer, Governor of the Bank of France. His term is for a period of three years, commencing on 7 March 2010.

Mr Noyer succeeds Guillermo Ortiz, Governor of the Bank of Mexico, who served as Chairman of the Board until the end of December 2009, when he left his post as central bank Governor.

Members of the Board of Directors expressed their sincere gratitude to Mr Ortiz for his excellent services to the Bank.