FINMA CEO to Step Down and Move to German’s BaFin; Jan Blöchliger Takes overby Company Announcement March 23, 2021
Mark Branson is stepping down as Chief Executive Officer of the Swiss Financial Market Supervisory Authority FINMA. He will take on the role of President of the Federal Financial Supervisory Authority BaFin in Germany from mid-2021.
Mark Branson has worked at FINMA since 1 January 2010, initially as Head of Banking Supervision, from 2013 additionally as Deputy CEO and since April 2014 as CEO. Mark Branson played a decisive role in building up the authority and establishing it both nationally and internationally and his appointment is testament to its international recognition.
FINMA’s Board of Directors very much regrets his decision and thanks Mark Branson for his enormous and successful dedication to FINMA over many years. Jan Blöchliger will take over the operational leadership of FINMA from 1 May 2021 and until further notice. The Board of Directors has already begun the process of selecting the new FINMA CEO.
Mark Branson began his FINMA career on 1 January 2010 as Head of the Banks division. At the beginning of his time at FINMA, topics such as the aftermath of the financial crisis, strengthening the resilience of the banking sector, the further professionalisation of banking supervision and overseeing the tax dispute-related regularisation were at the forefront. Following his appointment as CEO, FINMA increasingly prioritised conduct supervision and in particular the fight against financial crime in the context of money laundering supervision. Under his leadership, FINMA actively supported innovation in the Swiss financial centre with its technology-neutral approach.
The achievements in supervision and regulation as well as the professional organisation of FINMA have now also proven themselves in the coronavirus crisis.
“The role of FINMA CEO is an extremely demanding job, which Mark Branson has done extraordinarily well. He has made an outstanding contribution to establishing our authority during a very eventful period for the financial markets. The fact that FINMA is in such a good position today as a nationally and internationally well-regarded authority can be credited to Mark Branson. His appointment as BaFin President is an expression of this international recognition. I thank Mark Branson on behalf of the Board of Directors and the whole of FINMA for his excellent work and his great personal commitment over the years,”
says Marlene Amstad, Chair of FINMA’s Board of Directors.
Mark Branson, FINMA CEO:
“This is a very difficult step for me to take. I am very proud of what this relatively small team has time and again achieved together in very challenging times. FINMA is only as good as its employees. And FINMA employees are characterised by their expertise, motivation and dedication – characteristics that they have deployed successfully to protect clients and the stability of the financial system. I would therefore like to take this opportunity to express my sincere thanks to all our employees, to my close colleagues on the Executive Board and to the Board of Directors for their trust and cooperation over the years.”
Jan Blöchliger to take over operational leadership of FINMA from 1 May 2021
Jan Blöchliger will take over the operational leadership of FINMA from 1 May 2021 until further notice.
“FINMA has established processes, a proven leadership team and in Jan Blöchliger also an experienced leader who, together with the other members of the Executive Board, will ensure continuity and that the authority’s strategic direction is maintained,”
said Marlene Amstad. Mark Branson will now focus on ensuring a smooth transition.
The Board of Directors has started the process of selecting a new CEO. This appointment must be approved by the Federal Council. FINMA will provide further information when the appointment has been made and approved.
Featured image credit: FINMA