Urban Angehrn steps down as CEO of FINMA
The Swiss Financial Market Supervisory Authority (FINMA), the country’s financial regulator, has announced that Urban Angehrn, its CEO of almost two years, is to step down at the end of September.
FINMA announces departure of CEO Urban Angehrn
As part of the leadership transition, Birgit Rutishauser, who currently serves as deputy CEO, will assume the position of interim CEO from 1 October as the regulator begins the process of seeking a more permanent replacement.
Angehrn’s career with FINMA began in November 2021, with the regulator saying he led with “professional and interpersonal competence” in managing a number of challenges, including risks associated with the Russia-Ukraine war, while overseeing multiple enforcement proceedings.
Also within his remit was the licencing of the first 1,000 portfolio managers and trustees by FINMA, and the management and subsequent UBS acquisition of Credit Suisse, which the regulator describes as the “biggest challenge” in its 16-year history.
“During his term of office, Angehrn had to cope with and be responsible for an extraordinary wealth of tasks in a wide variety of areas in addition to the day-to-day business,” comments Marlene Amstad, chair of FINMA’s board of directors.
Angehrn describes his tenure as “a unique challenge for me, and one that I tackled with all my might”. His comments indicate that the “high and permanent stress level” associated with the demands of the role had taken their toll, and ultimately served as a catalyst for his departure.
“It is very difficult for me to hand over this task, but this is a step guided by reason. I would like to thank everyone, especially my staff and the board of directors, for the trust they have placed in me. Without the excellent team at FINMA, the successes we have achieved together would not have been possible.”
