FINMA head to become BaFin president - report

Monday, 22. March 2021 11:45

Swiss Financial Market Supervisory Authority (FINMA) CEO Mark Branson (pictured) was tapped to become the president of the German Federal Financial Supervisory Authority (BaFin), according to a report published by Handelsblatt on Monday.

Branson is expected to be officially named the head of the financial watchdog no later than April 1, governmental sources reportedly told the German newspaper.

In January, the country's Finance Ministry unveiled current BaFin President Felix Hufeld is set to step down following the Wirecard scandal which resulted in the company's bankruptcy.

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Breaking the News / GA