Billionaire Duo In Switzerland Turns to Ex-Bundesbank Chief for Advice

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In the future, the former president of the German Bundesbank will work for the local foundation of billionaire Klaus-Michael Kuehne, a naturalized Swiss citizen.

Lidl founder Dieter Schwarz and logistics entrepreneur Klaus-Michael Kuehne of Kuehne & Nagel have things in common. Both are among the wealthiest Germans and will work with the former Bundesbank president in the future, «Manager Magazin» (in German, behind paywall) reported Thursday.

Jens Weidmann, who last worked for the Bundesbank in 2021, will advise Kuehne’s Swiss foundation and join the board of trustees of the Dieter Schwarz Foundation next month. 

Considered for UBS Chairmanship

He’s already been working for Commerzbank since May, leading the Supervisory Board. Between 2011 and 2021, he was President of  Germany’s Bundesbank and a part of the Council of the European Central Bank ECB. Before that, he headed the Federal Chancellery’s economic and financial policy department. He was chairman of the Bank for International Settlements (BIS) from 2015 to 2021.

Two years ago, Weidmann was considered a candidate for the UBS chair as a successor to Axel Weber, but that went to Colm Kelleher. At the time, Deutsche Bank was said to be interested in Weidmann.

Source : Finews