Swiss Financial Market Supervisory Authority (Finma) Board of Directors has appointed Thomas Hirschi to the Executive Board as the new head of the Asset Management division. He will take up the new role on 1 January 2020.
Hirschi joins Finma from the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM) international financial centre. At ADGM, he was responsible for the authorisation and supervision of banks and insurance companies for almost four years. In this role, he was instrumental in setting up the present structures of the regulatory authority in ADGM.
Between 2004 and 2015 Hirschi held various senior positions at finma and its predecessor authority, the Swiss Federal Banking Commission. Most recently, he acted as the head of the Risk Management section within the Banks division. Prior to this, he was in charge of supervising a large bank and then responsible for the supervision of retail, commercial and trading banks.
With the appointment of the head of the Asset Management Division, Finma's Executive Board will be complete again, after the position has been vacant since the death of Michael Loretan. The role of deputy CEO of Finma is held by the head of the Insurance division Birgit Rutishauser since 1 June 2019.