Newsletter 143 from August 18, 2010 FINMA Chairman Eugen Haltiner steps down

Newsletter 143 - FINMA Chairman Eugen Haltiner steps down - Eugen Haltiner will step down as chairman of the FINMA Board of Directors at the end of December 2010. Haltiner oversaw the successful merger of the three predecessor authorities during an extremely difficult time. His successor will be appointed by the Federal Council in autumn 2010. - Eugen Haltiner will step down as chairman of the FINMA Board of Directors of his own volition at the end of December 2010. Haltiner became chairman of the Swiss Federal Banking Commission (SFBC) at the start of 2006 and managed the merger of the SFBC, the Federal Office of Private Insurance, and the Anti-Money Laundering Control Authority to form FINMA. The FINMA merger came at a very difficult time as it was during the international financial crisis. The merger of these three bodies into FINMA was nevertheless successfully achieved in spite of the difficult situation. Dr Haltiner's successor will be appointed by the Federal Council in the autumn. - The Board of Directors, Executive Board and employees of FINMA would like to thank Dr Haltiner for his huge contribution to creating a strong and efficient supervisory authority. - Dr Eugen Haltiner, FINMA Chairman: "Although it was not an easy decision to make, the time is now right for me to step down. The merger into FINMA was successfully concluded thanks to the commitment of everyone involved. I am convinced that FINMA, guided by its strong Executive Board, will continue to establish itself and grow in a targeted way". - Dr Patrick Raaflaub, FINMA CEO: "I have a lot of respect for what Eugen Haltiner achieved. He acted with decisiveness and resolution in helping to overcome the financial crisis in Switzerland. Besides the huge challenges posed by the crisis, he brought the creation of FINMA to a successful conclusion. FINMA is in a strong position today. This is due in no small measure to Eugen Haltiner: I very much regret his decision to resign. Nonetheless, the Executive Board and I are resolved to continue to pursue the targets set." - Contact - Alain Bichsel, Head of Communications, Phone +41 (0)31 327 91 70, alain.bichsel@finma.ch