Mark Branson has begun his tenure as president of German financial supervisor, BaFin.
Branson’s appointment was first announced in March 2021, following the organisation’s removal of former president and his deputy Elisabeth Roegele over their handling of the Wirecard scandal the previous January.
Born in the UK, Branson began his career in the financial industry at Credit Suisse and, in 1997 he moved to UBS where he held various leadership positions.
Prior to his appointment at BaFin, Branson was the CEO of the Swiss Financial Market Supervisory Authority in Bern for seven years, after joining the company in 2010.
Commenting on his new role, Branson says: “Being a supervisor is more than just a job; it’s a vocation. I am fully aware that people have very high expectations of BaFin – and rightly so.”
He adds: “I am looking forward to contributing to the modernisation of BaFin and working with BaFin employees to tackle the challenges ahead.”
The German Federal Ministry of Finance has set in motion a programme to modernise BaFin and improve the effectiveness of financial supervision, introducing a seven point plan and drawing up an act to strengthen financial market integrity. Branson has vowed to drive this reform programme forward.
