The Federal Council has appointed Marlene Amstad as the new chair of the Board of Directors of the Swiss Financial Market Supervisory Authority (Finma) for the remainder of the 2020-2023 term of office.
Amstad will take up her new position on 1 January 2021. She will succeed Thomas Bauer, who will leave the Board of Directors on 31 December 2020. The Federal Council took note of this resignation and thanked Bauer for the services rendered.
Bauer reaches statutory retirement age this year and has announced his resignation as of 31 December 2020.
Amstad, currently vice-chair of the Finma Board of Directors, emerged from the evaluation as the best candidate. She has worked at the Swiss Economic Institute of the Swiss Federal Institute of Technology Zurich (KOF), Credit Suisse, the Federal Reserve Bank of New York and the Swiss National Bank. At the end of 2011, Amstad joined the Bank for International Settlements (BIS) in Hong Kong. In 2016, she was appointed professor at the Chinese University of Hong Kong, Shenzhen, where she researches and lectures on Chinese financial markets. She has been co-director of the Centre of Financial Technology and Social Finance at the Shenzhen Finance Institute since 2018. She works regularly as a visiting research fellow at central banks, most recently at the Bank of Japan. She became a member of Finma's Board of Directors in 2016 and was appointed as its vice-chair in February 2018.
Thanks to her many years of experience in the financial sector, Amstad has an excellent knowledge of the Swiss financial markets and infrastructure as well as the associated institutions. In the United States, she deepened her research into the use of large data sets for timely forecasts. The indicator she developed is still calculated and published by the Federal Reserve Bank of New York today. She has also lectured on money, financial markets and regulation at the University of Bern since 2007. She works intensively on fintech, blockchain and digital currencies, and has published a textbook on these topics with the Asian Development Bank.
Amstad's successor as vice-chair of Finma's Board of Directors will be announced at a later date.