BIS Board elects Christian Noyer as new Chairman

www.bis.org...

The Board of Directors of the Bank for International Settlements (BIS) elected as its new Chairman, Christian Noyer, Governor of the Bank of France. His term is for a period of three years, commencing on 7 March 2010.

Mr Noyer succeeds Guillermo Ortiz, Governor of the Bank of Mexico, who served as Chairman of the Board until the end of December 2009, when he left his post as central bank Governor.

Members of the Board of Directors expressed their sincere gratitude to Mr Ortiz for his excellent services to the Bank.

WTF?!?
Check this, Guillermo Ortiz is being replaced as BIS Chairman after a 1-year stint. Since he just wrapped up his second and final term term as Governor of the Bank of Mexico makes sense right? Only thing is- why hire someone for 3 years when you know he'll only be there for 1?
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BIS Board elects new Chairman
12 January 2009

The Board of Directors of the Bank for International Settlements (BIS) today elected as its new Chairman, Guillermo Ortiz, Governor of the Bank of Mexico. His term is for a period of three years, commencing on 1 March 2009.

www.bis.org...
Notice also the difference in titles to what are essentially the same type of memo. It reflects the small, quiet online presence he has. Check out the very small wiki page on him:
en.wikipedia.org...

At the time, I thought his appointment to Chair the BIS was odd- why the finance minister from Mexico? Could it be he was a sort of hitman? Get in, do the dirty work, get out?

[edit on 8-3-2010 by Moonsouljah]

[edit on 8-3-2010 by Moonsouljah]