Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Swiss Central Banker’s Art-Dealing Wife Cleared of Suspicious Dollar Trade

January 5, 2012 by Marion Maneker

Kashya Hildebrand, the wife of Swiss central bank Chairman Philipp Hildebrand, stirred suspicion when buying US dollars last August shortly before a change in Swiss Central Banking policy aimed at limiting the rise of the Swiss Franc. Kashya, who has since been cleared, says the timing was motivated by the valuation and a regular need for US Dollars in her business:

“My interest in the dollar purchase was motivated by the fact that it was at a record low and almost ridiculously cheap,” Swiss Television’s “10vor10” program reported late yesterday, citing Kashya Hildebrand saying in a written statement. She also said that she had worked in the financial industry in the 15 years through 1999 before becoming an art dealer and “felt comfortable with this transaction.” […]

Kashya Hildebrand also said that 70 percent to 80 percent of financial transactions at her art gallery are in dollars. “The day after the dollar purchase, the SNB’s general counsel was informed for the sake of transparency, and there were no objections to the transaction,” she said in the statement.

SNB Chairman’s Wife Defends ‘Ridiculously Cheap’ Dollar Purchase (Bloomberg)

More from Art Market Monitor

  • A View of the Asian Works of Art Market: Olivia HamiltonA View of the Asian Works of Art Market: Olivia Hamilton
  • Blue Period Picasso In Rybolovlev’s €1.9bn CollectionBlue Period Picasso In Rybolovlev’s €1.9bn Collection
  • Much Ado About HedgiesMuch Ado About Hedgies
  • Beautiful Inside My Head . . . WhateverBeautiful Inside My Head . . . Whatever
  • Abramovich Wins Museum BidAbramovich Wins Museum Bid
  • TEFAF Sales ReportTEFAF Sales Report

Filed Under: Dealers

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor