BERLIN (AP) — Germany’s finance minister announced Monday that he has chosen the head of Switzerland’s market regulator, Mark Branson, to lead the troubled German financial supervisory authority, BaFin.
Finance Minister Olaf Scholz has vowed to reform and strengthen BaFin following an accounting scandal at payment systems provider Wirecard. The departure of Felix Hufeld, BaFin’s boss since 2015, was announced in late January.
Branson, a 52-year-old British-Swiss dual national, will take over at BaFin in the middle of this year, the finance ministry said in a statement.
“With him at the top, we want to continue the reform of BaFin