The Federal Council has appointed and re-appointed the Board members of the Swiss Financial Market Supervisory Authority FINMA for the term of office from 2016 to 2019. As of 1 January 2016, Thomas Bauer will assume chairmanship of the Board. The Federal Council also appointed three new Board members: Marlene Amstad, Bernard Keller and Renate Schwob. Current Board members Philippe Egger, Bruno Frick, Prof. Yvan Lengwiler, Günter Pleines and Franz Wipfli were re-appointed for the same term of office. The Chair Anne Héritier Lachat and the Vice-Chair Paul Müller will leave the Board when the current term of office expires at the end of 2015.
At its meeting today, the Federal Council appointed Thomas Bauer as FINMA’s future chairman as of 1 January 2016. Thomas Bauer will join the Board as a regular member on 1 August 2015.
- Thomas Bauer (1955), who has a doctoral degree in law, was a partner at Ernst & Young until 2014 where his main focus was on insolvency, banking, commercial and accounting law. Before he joined the company in 1994, Thomas Bauer was a lawyer and worked in the banking industry. Since 1990 he has worked at the Cantonal Court of Basel-Land in a part-time capacity.
Anne Héritier Lachat, Board Chair: “It is positive that the Federal Council could appoint the new chairman and new Board members at this early stage. This ensures a smooth transition and preserves continuity in the Board. I welcome this step and congratulate Thomas Bauer and the other newly appointed members.”
Three new Board members
As well as appointing Thomas Bauer, the Federal Council also appointed three other new members to the Board who will assume Board membership on 1 January 2016.
- Marlene Amstad (1968), who has a doctoral degree in economics, will continue working for the Bank for International Settlements (BIS) in Hong Kong into November 2015. She specialises in asset management and financial infrastructures. She also lectures on money, institutions and financial markets at the University of Bern.
- Bernard Keller (1953) is an economist. Before he retired at the end of 2014, he acted as CEO of the Banca Julius Bär in Lugano and was an executive board member of the Julius Bär Group.
- Renate Schwob (1952), who has a doctoral degree in law, was deputy chair of the executive board of the Swiss Bankers Association (SBA) until October 2014 where she also headed the Swiss Financial Market division. Before she joined SBA, she worked for the Federal Office of Justice and Credit Suisse.
Other Board members re-appointed
FINMA’s current Board members Philippe Egger, Bruno Frick, Prof. Yvan Lengwiler, Günter Pleines and Franz Wipfli have been re-appointed for another term of office. The Chair Anne Héritier Lachat and the Vice-Chair Paul Müller will leave the Board when the current term of office expires at the end of 2015.
As of 1 January 2016, FINMA’s Board of Directors will comprise:
- Thomas Bauer (Chair)
- Marlene Amstad
- Philippe Egger
- Bruno Frick
- Bernard Keller
- Prof. Yvan Lengwiler
- Günter Pleines
- Renate Schwob
- Franz Wipfli
The Federal Council will appoint the new vice-chair at a later stage. The members appointed and re-appointed meet the independence requirements. When they join the Board, they will not be engaging in activities that could lead to conflicts of interest (see link).
The Federal Council appoints and/or re-appoints FINMA Board members every four years. The Board is FINMA’s strategic management body. As set out in the Financial Market Supervision Act (FINMASA), the Board’s responsibilities include setting FINMA’s strategic goals, deciding on matters of substantial importance, issuing FINMA ordinances and circulars, and overseeing the work of the Executive Board.
Tobias Lux, Media Spokesperson, Tel. +41 (0)31 327 91 71, email@example.com