The Global Foreign Exchange Committee (GFXC) has appointed Andrea Maechler, a governing member of the Swiss National Bank (SNB), as its new chair for a two-year term.

She replaces Guy Debelle – deputy governor of the Reserve Bank of Australia – who has largely been the face behind the development and rollout of the FX Global Code over the past four years.

Maechler is a member of the BIS Markets Committee, and most recently led its work on FX execution algorithms and market functioning. Its