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Former SNB President Hildebrand’s Wife to Close Gallery

The Hildebrands
Kashya Hildebrand, a former hedge fund employee, with her husband, Philipp Hildebrand, Switzerland's former central bank president. Photographer: Silvia Pfenniger via Bloomberg

Kashya Hildebrand, whose purchase of foreign currency led to her husband Philipp to resign his post as president of the Swiss National Bank, plans to move her gallery to London.

“In the very near future, we will be closing the Zurich gallery,” she said in an e-mailed statement. “We welcome the global, cosmopolitan, ethnic diversity of the London art market and look forward to having a platform there.”

The gallery, not far from the main banking district, focuses on Middle Eastern Art. The London venue will open on June 26 in the borough of Westminster.

Born in Pakistan to an American mother, Kashya Hildebrand met her husband while working at hedge fund Moore Capital Management LLC in New York in the 1990s. She purchased $504,000 in August 2011, just three weeks before the SNB set ceiling on the franc. Philipp Hildebrand resigned in early 2012 after news of his wife’s purchase became public, causing an uproar. He now works at BlackRock Inc. in London.

Philipp Hildebrand was never publicly accused by the government of wrongdoing. His wife defended the purchase, saying at the time the dollar was “ridiculously cheap.”

Bilanz magazine reported the gallery’s move earlier today.

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