OREANDA-NEWS. The Swiss National Bank (SNB) today announced that Christian Vitta has been elected as new member of the SNB Bank Council by the Federal Council, at its meeting of 4 December 2015. Christian Vitta is Member of the Cantonal Government and Head of the Department of Finance and Economic Affairs of the Canton of Ticino, and will join the Bank Council on 1 May 2016, at the start of the 2016–2020 term of office.

Christian Vitta succeeds Alfredo Gysi, who is standing down with effect from end-April 2016. The SNB would like to take this opportunity to thank Alfredo Gysi for his service on the Bank Council and wish him all the best for the future.

In addition, the Federal Council re-elected Jean Studer (Neuchâtel) as President of the Bank Council for the period ending on 30 April 2019. The total term of office for Bank Council members is restricted to twelve years. Jean Studer will complete his twelfth year of service in April 2019, i.e. before the end of the term of office.

Olivier Steimer was re-elected as Vice President for the 2016–2020 term of office, subject to his re-election by the General Meeting of Shareholders of the SNB.

The following Bank Council members were also re-elected for the 2016–2020 term of office:

- Ernst Stocker, President of the Cantonal Government and Head of the Department of Finance of the Canton of Zurich
- Christoph Lengwiler, Professor and Head of the Institute of Financial Services Zug IFZ at Lucerne University of Applied Sciences and Arts
- Shelby R. du Pasquier, Attorney at Law and Partner at Lenz & Staehelin, Geneva
- Barbara Janom Steiner, Member of the Cantonal Government and Head of the Department of Finance and Communal Affairs of the Canton of Graubünden.

The Bank Council supervises and monitors the conduct of business by the SNB, in particular as regards compliance with legislation, regulations and directives. It is made up of eleven members. Under the provisions of the National Bank Act, six members are elected by the Federal Council and five by the General Meeting of Shareholders.