ONDON – The money manager BlackRock has hired Philipp M. Hildebrand, who resigned under a cloud from the Swiss National Bank in January, to oversee institutional client relationships outside the United States.
Mr. Hildbebrand, 48, stepped down as head of Switzerland’s central bank after doubts were raised about currency trades he and his wife made in 2011.
He had been an advocate for stricter banking regulation and played a central role in the Swiss National Bank’s efforts to keep investors from bidding up the value of the Swiss franc, which is seen as a haven from the current global turmoil.
In his new role at BlackRock, Mr. Hildebrand will advise the firm’s clients across Europe, the Middle East, Africa and the Asia-Pacific region, the company said in a statement on Wednesday. He is expected to begin work in October and will be based in London.
In recent years, BlackRock has grown in prominence, advising a number of heavily indebted companies and countries, including Greece, about how to weather the financial crisis. BlackRock has around $3.7 trillion of assets under management.