Jean-Pierre Roth to chair BIS Board

The Board of Directors of the Bank for International Settlements (BIS) today elected as its new Chairman Jean-Pierre Roth, Chairman of the Governing Board of the Swiss National Bank. His term is for a period of three years, commencing on 1 March 2006.

Mr Roth will succeed Nout Wellink, who has served as Chairman of the Board and President of the Bank since March 2002. Mr Wellink is stepping down after overseeing changes to the Bank’s Statutes, enhancing the governance of the BIS and the transparency of its structure.

At their meeting today members of the Board of Directors expressed their sincere gratitude to Mr Wellink for the outstanding services he has rendered to the Bank over the past four years.