ZURICH, March 4 Reuters The Swiss National Bank should pick an outsider to replace its departing chief Thomas Jordan, a report by a group which campaigns for accountability at the central bank said.

SNB Vice Chairman Martin Schlegel has been floated by Swiss media and experts as favourite to replace Jordan, who announced on Friday he would be stepping down after 12 years in charge.

But Jordan39;s exit gives an opportunity to broaden the SNB39;s threeperson governing council and improve its transparency, the SNB Observatory said in a report released on Monday in response to last week39;s announcement.

Thomas Jordan did a very good job keeping inflation in check, but after 12 years leading the SNB he leaves a long shadow, said Stefan Gerlach, a former deputy governor of the Central Bank of Ireland, and one of the authors of the report.

It39;s time for the SNB to go for an experienced outsider, added Gerlach, who is currently chief economist of Switzerland39;s EFG Bank.

With two years on the SNB39;s rate setting governing board Schlegel had too little experience in this area, Gerlach said, adding that he was potentially too close to Jordan. Schlegel spent part of his early career at the SNB as Jordan39;s intern within the central bank39;s research department.

Antoine Martin, who joined the SNB in January from the Federal Reserve Bank of New York, has not been at the bank long enough to become chairman, Gerlach said.

Historically two of three board members have been…