The Swiss Financial Market Supervisory Authority (FINMA) has appointed Stefan Walter as its new Chief Executive Officer. Walter will step into the role on April 1, 2024 with Birgit Rutishauser acting as interim CEO. Urban Angehrn resigned from the leadership position at FINMA at the end of September 2023 due to health concerns.
FINMA shares that Walter has been Director General at the European Central Bank (ECB) since 2014, where he was initially responsible for the supervision of systemic banks in the eurozone. Walter led the division for six years.
From 2020, he was responsible for horizontal risk supervision at the ECB. Before joining the ECB, Walter held the role of Global Bank Regulatory and Supervisory Policy Network Leader at Ernst & Young for two years.
From 2006 until 2011, he was Secretary General of the Basel Committee on Banking Supervision.
Walter’s deep experience in banking was probably viewed highly due to the recent banking crisis when Credit Suisse was forced to become a part of UBS.
Marlene Amstad, Chair of FINMA’s Board of Directors, said FINMA was gaining an experienced leader in appointing Walter, due to his wealth of experience in global banking and financial markets.
“On behalf of the entire Board of Directors, I would like to thank Birgit Rutishauser for her distinguished work and unfailing commitment as interim CEO, as well as the entire Executive Board for continuing operations during this transitional period,” said Amstad.