LONDON - The Swiss Financial Market Supervisory Authority said on Wednesday that Mark Branson, a former UBS executive who is serving as the authority’s interim chief executive, had been appointed to fill the top post.
Mr. Branson joined the Swiss financial regulator, known as Finma, in January 2010 as its head of banks. He was appointed deputy chief last year, and has been serving as interim chief executive since Feb. 1. He will take over as C.E.O. on April 1, the regulator said.
He succeeds Patrick Raaflaub, who left the agency in January.
“While in charge of banking supervision, Mark Branson has shown that he is well capable of becoming Finma C.E.O.,†Anne Héritier Lachat, chairwoman of the board of directors, said in a statement. The board “has full confidence in Mark Branson’s expertise, competence, integrity and broad experience at the national and international levels.â€
Mr. Branson served as the leader of UBS’s securities business in Japan from 2006 to 2008. He then served as chief financial officer of its wealth management and Swiss bank division in Zurich before joining Finma.
While he was at UBS, Mr. Branson testified in 2009 before a congressional hearing that was examining the issue of Americans who had evaded taxes using Swiss bank accounts.
Finma said its board discussed several internal and external candidates, but Mr. Branson was the board’s top choice from the outset.
His nomination has been approved by the Switzerland’s Federal Council.
“I look forward to tackling the upcoming challenges with the Finma staff and my colleagues on the executive board,†Mr. Branson said in a statement.
