Swiss National Bank Chief goes

The Chairman of the Swiss National Bank, Phillpp Hildebrand, has bowed to enormous pressure following the placement of a very successful foreign exchange deal by his wife Kaysha last August that has recently come to light.

The deal was for US $500,000 that made a profit of US $70,000 but it is the timing of the trade that has put the SNB chief in the spotlight, as it was booked ahead of the SNB decision to intervene to halt the rise of the Swiss Franc, so damaging to their exports, caused by safe haven purchases during the Eurocrisis.

His defence was that he didn't know his wife, a former Hedge Fund employee, had placed the trade and couldn't ultimately prove he didn't know.

Interesting tea time conversation around the dinner table at their house.