FINMA’s strategic leadership
Competencies
The Board of Directors defines FINMA’s strategic goals and decides on matters of substantial importance. It also issues FINMA ordinances and circulars, exercises control over FINMA through the Internal Audit unit and is responsible for FINMA's budget. FINMA’s Board elects the Chief Executive Officer, whose appointment must be confirmed by the Federal Council. It also elects the other members of the Executive Board, with the Chief Executive Officer being granted the right to propose candidates for membership.
Composition
FINMA’s Board of Directors comprises seven to nine independent, expert members elected by the Federal Council. The latter defines the requirements profile for the FINMA Board of Directors and the conditions for holding office. The Board of Directors assumes collective responsibility for its actions and decisions. Resolutions are passed by a majority vote of the Board members present.
Prof. Dr Marlene Amstad, Chair
Marlene Amstad is Chair of FINMA's Board of Directors since 1 January 2021. She is professor at the University of Bern and Senior Fellow at the Harvard University. Her work focuses on international finance and quantitative economics. Previously, she served as finance professor at Chinese University of Hong Kong, Shenzhen and Co-Head of its FinTech Center, Deputy Director at the Swiss National Bank, and Advisor for Asian central banks at the Bank for International Settlements in Hong Kong. Former positions include the Federal Reserve Bank of New York, Credit Suisse and KOF Swiss Economic Institute at the ETH Zurich. Marlene Amstad joined FINMA’s Board of Directors in 2016 and assumed the role of Vice-Chair in February 2018. She chairs the FINMA Nomination Committee.
Martin Suter, Vice-Chair
After earning a degree in mathematics at ETH Zurich, Martin Suter initially worked at UBS and Credit Suisse. From 1999 to 2016, he held various posts at Swiss Life Zurich where he last was CFO for Switzerland and a member of the executive board for Switzerland. Since 2017 he has been managing director of stylasis ag in a part-time capacity. He joined FINMA's Board of Directors on 1 January 2018, since 1 January 2021 in the role of Vice-Chair. Martin Suter also chairs the FINMA Audit and Risk Committee.
Prof. Dr Ursula Cassani Bossy, member
The holder of a doctorate in law has been a professor of criminal law at the University of Geneva since 1995 and a member of the Centre de droit bancaire et financier (centre of banking and financial law) of the faculty of law since 2004. Her main areas of expertise include money laundering, corruption and corporate criminal law. She also oversees a number of courses in financial market law. Ursula Cassani Bossy chairs the FINMA Takeover and State Liability Committee.
Prof. Dr Susan Emmenegger, member
The holder of a doctorate in law has been a full professor for private law and banking law as well as director of the Institute of Banking Law at the University of Bern since 2005. Since 2014 she has also acted as adjunct professor at Cornell Law School (USA). Her research and teaching focuses on contract law and national and international financial market law. She is the editor and author of numerous publications in the area of financial market law. She was previously a member of the Advisory Board for the Future of the Financial Centre, as well as a member and Vice-Chair of the Swiss Takeover Board. Susan Emmenegger has been a member of FINMA’s Board of Directors since 2021. She is also a member of the FINMA Takeover and State Liability Committee.
Dr Alberto Franceschetti, member
The holder of a doctorate in economics (HSG) was Chief Financial Officer and a member of the Executive Board of Liechtenstein-based life insurance company elipsLife from 2014 to 2020. He held managerial roles in strategy and business development in Private Banking and Wealth Management at Credit Suisse from 2008 to 2014. Before that, he was a partner at strategy consultants Bain & Company (2003 to 2008) and McKinsey & Company (1993 to 2003, partner from 1998). At Bain he led the Swiss Financial Group for five years and was a member of the European Financial Service Group. During his time as a consultant he handled mandates for a number of global financial institutions. Alberto Franceschetti has been a member of FINMA’s Board of Directors since 1 January 2022. He is a member of the Audit and Risk Committee.
Benjamin Gentsch, member
After graduating in business administration, Benjamin Gentsch began his professional career in the reinsurance industry and became a member of Zurich Re’s executive board in 1998. In this role he played an important part in Zurich Re’s successful initial public offering and was later appointed CEO of the Swiss arm of this new company under the name Converium. Following the integration of Converium into French-owned Scor in 2007, he was a member of Scor’s group executive board as CEO of the Swiss unit and Deputy CEO of the global non-life unit. Benjamin Gentsch has been a member of FINMA’s Board of Directors since 1 July 2019. He is a member of the Nomination Committee.
Marzio Hug, member
The financial expert worked for Deutsche Bank AG until 31 March 2021, most recently as a member of the Group Risk Committee and as Chief Risk Officer EMEA and Chief Risk Officer for the Asset Management Division. Prior to that, from 1996 he held various management positions at Deutsche Bank AG in London, Frankfurt and Sydney in risk management and the loans business with global responsibility for the entire group, among other things. From 1985 to 1996, Marzio Hug worked mainly in the areas of Corporate Finance and Correspondent Banking for Credit Suisse AG in Zurich and New York and for Credit Suisse Financial Products in London. He grew up in Ticino and began his professional career at the Ticino Cantonal Bank. Marzio Hug has been a member of FINMA’s Board of Directors since 1 January 2022. He is a member of the Audit and Risk Committee.
Rene W. Keller, member
The qualified computer scientist (ETH Zurich) has been an executive board member at various financial institutions, served as Head of IT and held various board mandates. He was CIO of Standard Chartered Bank in Singapore (corporate, commercial and institutional banking business) from 2020 to 2023, Chief Information Officer (CIO) for Retail, Private Banking and Wealth Management at Deutsche Bank AG from 2016 to 2020 and Group CIO of Deutsche Börse AG from 2014 to 2016. Prior to that, he was Chief Operating Officer and a member of the executive board at Information Mosaic (a FinTech company) in Dublin. From 2010 to 2012 he was Chief Information Technology Officer and a member of the executive board at Swiss Life Switzerland. Prior to this, Rene W. Keller held management positions in IT at Credit Suisse and UBS. Rene W. Keller has been a member of FINMA’s Board of Directors since 1 February 2024.
Dr Andreas Schlatter, member
The mathematician worked in asset management at UBS from 1997 to 2016, where he was, inter alia, CEO of the Swiss Asset Management unit and ultimately global head of distribution. He was also a member of the Swiss Federal Commission for Occupational Pensions and Chairman of the Swiss Bankers Association's Commission for Institutional Asset Management. Andreas Schlatter holds a doctorate in Mathematics from ETH Zurich and is a certified financial analyst. He is also a member of the FINMA Takeover and State Liability Committee and of the Nomination Committee.
Committees
To prepare its decisions, the Board of Directors has three standing committees:
- The Nomination Committee prepares all the personnel decisions which fall within the remit of the Board of Directors.
- The Audit and Risk Committee supports the Board of Directors in its oversight of the Executive Board. It is the main point of contact for the Internal Audit unit.
- The Takeover and State Liability Committee hears appeals against decisions taken by the Takeover Board. It also deals with disputed state liability claims.
The Board can also set up ad hoc committees or designate specialist members from among its ranks to act in an advisory capacity to the Board of Directors and the Executive Board. The objective here is to incorporate the Board’s specialist expertise and strategic perspective.
Declaration of vested interests of the members of FINMA's Board of Directors
