The Swiss government is putting forward the Swiss banker and Blackrock top executive to succeed Angel Gurría at the Organization for Economic Cooperation and Development.
Bern is nominating Philipp Hildebrand as general secretary of the supranational policymaking body, it said in a statement on Monday. «The federal council undertakes to actively support the Swiss candidacy during the nomination process, which will be finalized at the end of February 2021,» the seven-member government said.
He would replace Angel Gurría, who steps down in May, in the job. The move sets the stage for the next chapter for Hildebrand, who left the Swiss National Bank's three-person governing board in 2012 following a currency trading scandal involving his now-former wife. The Swiss banker subsequently joined Blackrock as a vice-chairman later that year.
Swiss Banking Veteran
Hildebrand has repeatedly been mentioned in banking circles as a potential successor to chair either major Swiss bank. His chances are Credit Suisse were complicated by extensive ties between the Swiss bank and Hildebrand's partner, Margarita Louis-Dreyfus, through Dreyfus, the commodity trader she controls.
The U.S. is proposing Christopher Liddell, a New Zealand native who currently serves in the White House, as a successor. OECD members have until Sunday to put forward nominations, which represents a battleground for the future of globalization, according to «Bloomberg».
Blackrock's Blessing
Hildebrand, who began his career at hedge fund Moore Capital, is a policy veteran and remains an insider, even after eight years in the private sector. He was deputy head of the Financial Stability Board, board member at the Bank for International Settlements, governor at the International Monetary Fund, and led an OECD working group during his central banking career.
Blackrock, where he reports to CEO Larry Fink, endorsed the Swiss candidacy: «Blackrock appreciates and supports Philipp Hildebrand's work for Switzerland and his willingness to stand as a candidate for his home country for the job of OECD general secretary,» a spokesman for the U.S. asset manager told Swiss newswire «SDA» on Wednesday.
