Swiss regulator appoints ECB veteran as CEO
Most recently, Walter developed the supervision of global systemically important banks at the European Central Bank in Frankfurt.
He will succeed Urban Angehrn, who stepped down in September 2023 after two years in the role, citing the deterioration of his health from «permanent stress levels» after orchestrating the rescue of Credit Suisse by UBS.
Deputy CEO Birgit Rutishauser, who became interim head pending a formal appointment process, will continue to hold the position of FINMA CEO ad interim until 1 April.
CEO of Swiss regulator FINMA resigns over 'high and permanent stress level'
Most recently, Walter developed the supervision of global systemically important banks at the European Central Bank in Frankfurt, where he currently heads the directorate general horizontal line supervision.
Prior to that, he was secretary general of the Basel Committee, where he was tasked with coordinating global negotiations to reform regulation and strengthen the system in the wake of the Global Financial Crisis.
Credit Suisse AT1 bond investors sue Swiss regulator
Marlene Amstad, chair of FINMA's board of directors, said: «FINMA is gaining an experienced leader in Stefan Walter with a wealth of international financial market experience in banking supervision.
»Particularly, his knowledge in large bank supervision and his links to international supervisory authorities will be a great asset for FINMA's supervision of the systemically important Swiss banks."
AJ Bell calls on Jeremy Hunt to introduce 'radical' ISA reform
Read more on investmentweek.co.uk
