The Strategist

Swiss financial regulator FINMA to be headed by ECB top manager Walter

01/26/2024 - 02:15

According to the regulator's press office, Stefan Walter will take over as chairman of the Swiss Financial Market Supervisory Authority (FINMA) on April 1, 2024.

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Since 2014, Walter has held key posts at the European Central Bank, where he was in charge of overseeing systemically important financial institutions and keeping an eye on vulnerabilities in the eurozone banking sector.

Before then, Walter held a number of posts at the Federal Reserve Bank of New York, worked as secretary general of the Basel Committee on Banking Supervision, and was employed by the auditing firm Ernst & Young.

At the end of September, Urban Angehrn, the previous head of the Swiss regulator, announced his resignation. He led FINMA for less than two years, during which time he was instrumental in arranging the merger of Credit Suisse and UBS, the two biggest banks in Switzerland. He stated that his departure was due to health concerns.


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