Jörg Fischer steps down as SWX Swiss Exchange chairman

Jörg Fischer steps down as SWX Swiss Exchange chairman

Reto Francioni, former deputy CEO of Deutsche Borse and currently CEO of the Consors Group, is to take up the reins at SWX Swiss Exchange following Jörg Fischer's decision to step down as chairman.

Fischer's departure brings to an end a fifteen year tenure at the exchange, although he will continue to make himself available to advise SWX on strategic issues. He has also relinquished his positions at Eurex and virt-x.

The board says: "During the time that Jörg Fischer has been a major force behind the development of the Swiss Exchange, we have also seen the creation of Eurex, the world's largest derivative's exchange, of which he is chairman, and the birth of virt-x. These two organisations have helped to integrate the Swiss financial centre even more into the international scene."

Reto Francioni will be proposed to the board of directors for election at the general meeting of the SWX Swiss Exchange on 23 April 2002. As well as holding senior positions with Deutsche Borse and Consors, Francioni was previously responsible for developing and operating ATB's stock exchange systems, and was involved in the realisation of Soffex. He has also worked for Hofmann-La Roche, UBS and Credit Suisse.

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