Maechler says SNB plans to wield hefty balance sheet to encourage good governance
Voting rights used for first time to effect change in corporate governance
The Swiss National Bank (SNB) is adopting "modern and professional" asset management and looking to use its voting power to drive change at the firms it invests in, board member Andréa Maechler said on March 31.
The central bank's balance sheet ballooned in 2015 as it sought to defend its currency ceiling and, after the ceiling broke, offset volatility in the currency. Maechler told an SNB-hosted conference the central bank has considerable discretion in its investment approach and, as such, is
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