The Swiss Financial Market Supervisory Authority (FINMA) announced that it has appointed Urban Angehrn as its new CEO. According to the press release, Angehrn replaces CEO ad interim Jan Blöchliger, who will once again be in charge of banking supervision.
In order to comply with FINMA's recusal rules, Angehrn will recuse himself from all items of business that concern his former employer (Zurich Insurance Group) until the end of October 2022.
"The Swiss financial centre faces major opportunities and challenges, particularly in relation to digitalisation and sustainability. Besides his long and broad experience in the traditional focus areas of supervision, not least risk management, Urban Angehrn also has considerable experience in both of these areas. I am very much looking forward to driving progress in these areas of future relevance together with him and the whole of the FINMA leadership team," Marlene Amstad, Chair of FINMA's Board of Directors said.
"I am very happy to be joining a well-run, established authority, which has gained both national and international recognition," Angehrn said. "I now intend – together with the leadership team and the employees – to develop FINMA further, in particular by looking closely at the topic of change in the sector and actively accompanying this with an open mind as a supervisory authority."
Last month, FINMA has announced the appointment of Alberto Franceschetti and Marzio Hug to its Board of Directors.