Mexico's Ortiz to replace Roth as BIS chair

Guillermo Ortiz, the governor of the Bank of Mexico, is to succeed Jean-Pierre Roth, the head of the Swiss National Bank, as the chairman of the Bank for International Settlements (BIS). He becomes the first governor from an emerging-market economy to take the role.

Ortiz has been governor of the Bank of Mexico since 1998 and is widely credited with bringing inflation under control. He is set to remain governor of the Bank of Mexico in addition to his fulfilling his duties at the Basel-based

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