Central Bank’s Stefan Gerlach to join Swiss private bank

BTG Pactual's Swiss private bank BSI has hired the deputy governor of the Central Bank of Ireland Stefan Gerlach as chief economist. Mr Gerlach, a dual Swedish-Swiss citizen, will become BSI chief economist in January, reporting to the bank's incoming chief investment officer, Yves Bonzon, he said in an interview.

Mr Gerlach said in September that he planned to return to Switzerland and would not seek to renew his contract with the Central Bank in Dublin. The Central Bank has since appointed Prof Philip Lane as its new governor.

It has been reported that BTG is seeking to sell BSI to shore up its finances but Mr Gerlach said he was unaware of this. BTG bought Lugano-based BSI in September for 1.25 billion Swiss francs (€1.16 billion).

Mr Gerlach, who joined the Central Bank as one of two deputy governors four years ago, has previously worked at the Bank for International Settlements and as chief economist with the Hong Kong Monetary Authority.

Bloomberg