– SWITZERLAND, Bern – Swiss Financial Market Supervisory Authority – FINMA – today announced the appointment of Martin Suter as Vice-Chair of its Board of Directors, succeeding Marlene Amstad, who will take over the role of Chair of the Board of Directors effective from 1st January 2021.
“Martin Suter actively contributes his valuable knowledge of the insurance sector and of financial market and management matters to the Board of Directors. I am delighted that he is now also taking on the role of Vice-Chair,” said Marlene Amstad, Board Chair designate.
The Federal Council (Swiss government) elected Martin Suter as the new Vice-Chair of the FINMA Board of Directors for the next two years, and also elected Susan Emmenegger, professor of private and banking law at the University of Bern, as a new Board member of FINMA, succeeding Renate Schwob who will step down from the Board at the end of 2020.
Marlene Amstad adds: “I am delighted that in Susan Emmenegger we are gaining a recognized expert in banking law with an understanding of economic interrelationships and strategic issues for our Board.”
Thomas Bauer said: “I would like to thank Renate Schwob for her great commitment to the FINMA Board of Directors, which she has enriched with her proven expertise and experience.”
In March 2020, the Federal Council elected former Vice-Chair Marlene Amstad as Chair of the FINMA Board of Directors with effect from 1 January 2021. She succeeds Thomas Bauer, who will step down from the Board at this point. The FINMA Board of Directors will therefore be comprised of the following eight members with effect from 1 January 2021:
- Prof. Dr. Marlene Amstad (Chair)
- Martin Suter (Vice-Chair)
- Prof. Dr Ursula Cassani Bossy
- Prof. Dr. Susan Emmenegger
- Benjamin Gentsch
- Bernard Keller
- Dr Andreas Schlatter
- Franz Wipfli
About Martin Suter
Martin Suter, an independent strategy and financial management consultant, has been a member of the FINMA Board of Directors since 2018. He was CFO of Swiss Life Switzerland from 2006 to 2016.
A graduate in mathematics from ETH Zurich, he previously held various managerial posts at Swiss Life.
About Susan Emmenegger
Susan Emmenegger is a professor of private law and banking law at the University of Bern. Her teaching focuses on contract law and national and international financial market law. She is the organizer of the Swiss Banking Days conferences, the editor of a series of publications under the same name, and the author of numerous specialist publications. She was previously a member of the Advisory Board for the Future of the Financial Centre, as well as a member and Vice-Chair of the Swiss Takeover Board.
About FINMA
FINMA is Switzerland’s independent financial-markets regulator. Its mandate is to supervise banks, insurance companies, exchanges, securities dealers, collective investment schemes, and their asset managers and fund management companies. It also regulates distributors and insurance intermediaries. It is charged with protecting creditors, investors, and policyholders. FINMA is responsible for ensuring that Switzerland’s financial markets function effectively. F
INMA’s primary objective in supervising Swiss financial markets is to ensure that they function properly and that all clients of financial institutions are protected against their insolvency. It is tasked with issuing authorization, supervising license holders, and, where necessary, enforcing supervisory law, be this in connection with supervised institutions or unauthorized companies and individuals. FINMA also issues its own regulations where it is authorized to do so.
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