(Bloomberg) -- Swiss National Bank appointments go against the grain of global peers because the government keeps promoting insiders, according to a group of economists.

As the country prepares to name a successor to President Thomas Jordan in time for his departure in September, the so-called SNB Observatory issued a report building on its prior criticisms of his institution and the way it is run.

“It is not international practice for the top central bank management to be promoted internally,” economists Stefan Gerlach, Yvan Lengwiler and Charles Wyplosz wrote. “Having two of the three members of the Governing Board come from the staff is a deviation from past practice and effectively means that the SNB is run by insiders whose views, for instance on profit distribution, do not match with those of society more broadly.”

Such criticisms may have hit home in the past year. The last appointment to the board, of former Federal Reserve official Antoine Martin, followed a protracted hiring process after media commentary on the extent of Jordan’s dominance of the SNB. 

Based on past decisions, the obvious frontrunner to succeed him is current Vice President Martin Schlegel. Jordan himself once held that role, as did his five predecessors. 

The SNB Observatory’s argument on global practice rings true with regard to the top jobs among several peers. 

The current chiefs of central banks in euro-zone countries neighboring Switzerland — Germany, France, Italy and Austria, as well as the European Central Bank — were all serving in positions outside those institutions when they were appointed. 

By contrast, Fed Chair Jerome Powell was effectively promoted.

--With assistance from Bastian Benrath.

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