The Swiss financial regulator's top banking overseer is leaving. The high-profile departure comes two months after Urban Angehrn took over as CEO of the body.
Finma's top banking cop Jan Bloechliger (pictured below) is leaving to pursue an undisclosed outside opportunity, the Bern-based regulator said in a statement on Monday. He will be replaced by Thomas Hirschi, who currently regulates asset managers, effective February 1.
A 44-year-old lawyer, Bloechliger is a ten-year veteran of Finma who had temporarily stood in last year as CEO of the regulator for six months following the exit of Mark Branson for Germany's Bafin last March. He also represents Finma on the Basel banking supervision committee, a key international part of his role.
Urban Angehrn ultimately won Branson's job, presumably over Bloechliger. The banking supervision department – which regulates everyone from UBS to tiny regional lenders – employs roughly 110 people, which represents more than one-fifth of all of Finma.
Spurring Unit Changes
Finma lauded Hirschi (pictured below), the incoming banking supervisor, for ensuring continuation thanks to domestic and international experience.
Hirschi, who is 46 and Swiss, had been in the asset management job for two years. Previously, he regulated banks and insurers for Adu Dhabi's financial supervisor.
The regulator also named Philip Hinsen to replace Hirschi in running the asset management division, from February 1. Hinsen, who is 36, is a 12-year veteran of Finma who has overseen the authorisation section of the division since 2014.
