BIS Board elects Jens Weidmann as new Chairman

The Board of Directors of the Bank for International Settlements (BIS) yesterday elected as its new Chairman, Jens Weidmann, President of the Deutsche Bundesbank. His term is for a period of three years, commencing on 1 November 2015.

Mr Weidmann will succeed Christian Noyer, who will serve as Chairman of the Board until he retires as Governor of the Bank of France on 31 October 2015. Mr Noyer first assumed his responsibilities as Chairman in March 2010 and is at present serving his second term. Members of the Board of Directors expressed their sincere gratitude to Mr Noyer for his excellent services to the Bank during this time.

The Board is responsible for determining the strategic and policy direction of the BIS, supervising its Management, and fulfilling the specific tasks given to it by the Bank's Statutes. It meets at least six times a year. (Read more on the BIS Board of Directors.)