The husband of new Federal Reserve Chairwoman Janet Yellen sits on the board of an academic center funded by UBS, the giant Swiss bank, which is poised to come under closer oversight by the US central bank.

Yellen's husband, George Akerlof, is one of eight members of the advisory board at the UBS International Center of Economics in Society. UBS bankrolled the center, which was founded in 2012 at the University of Zurich, with roughly $100 million, according to its director, Ernst Fehr.