FINMA Announces Executive Board Reshuffle, David Wyss to Leave

The Financial Market Supervisory Authority (FINMA) announced this Wednesday that it’s Executive Board will be reshuffling. Namely, it has appointed a new member of the Executive Board, with Johanna Preisig assuming the new position, as well as becoming the Head of the Strategic Services division.

Preisig will take on the new role, effective from the 1st of July, 2020. She will be replacing Rupert Schaefer who is currently heading this division, who will take over the Recovery and Resolution division, effective from the same date.

Schaefer is replacing David Wyss, Head of the Recovery and Resolution division. At the end of June 2020, Wyss will be leaving the Swiss regulator to pursue new opportunities, the statement released today said.

Johanna Preisig joined FINMA in 2014

Preisig has been with the regulator since 2014, originally joining as a lawyer who specialized in the Solvency Solvency Solvency is defined as the quality or state of being solvent, relating to any individuals or businesses’ ability to pay off long-term debts including incurred interest.In essence, solvency is the ability of an entity to continue operations into the foreseeable future. Companies that become insolvent end up filing bankruptcy while solvency ratios can be performed by investors or analysts to evaluate a company’s ability to stay in business. How is Solvency Determined?Common solvency ratios used in Solvency is defined as the quality or state of being solvent, relating to any individuals or businesses’ ability to pay off long-term debts including incurred interest.In essence, solvency is the ability of an entity to continue operations into the foreseeable future. Companies that become insolvent end up filing bankruptcy while solvency ratios can be performed by investors or analysts to evaluate a company’s ability to stay in business. How is Solvency Determined?Common solvency ratios used in Read this Term and Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term of banks. Two years later, in 2016, she assumed a managerial role within the Recovery and Resolution division.

During her career, which commenced in February of 2003, according to her LinkedIn profile, she was also a lawyer for Zürcher Kantonalbank in the legal, tax, and compliance department. She worked with the firm for almost eight years.

Commenting on the changes, FINMA Chief Executive Officer Mark Branson said in the statement: “I would like to thank David Wyss for his longstanding commitment to FINMA and his exceptional achievements. He has established the Enforcement and the Recovery and Resolution divisions as efficient and high-performing units with an excellent reputation both nationally and internationally.

“In recent years he has made significant progress with his team regarding the recovery and resolution planning for systemically important banks. At the same time I am delighted that two highly talented managers are able to assume new roles in our Executive Board.”

Schaefer, on the other hand, has been with FINMA since 2010 and led the International Affairs team from 2013 onwards. He has been a member of the regulator’s Executive Board since 2015.