Abu Dhabi Global Market, ADGM, has announced that Thomas Hirschi has served notice of his resignation as Executive Director of Banking and Insurance at the Financial Services Regulatory Authority, FSRA, and will leave the authority in Q4 2019.
According to a statement, Hirschi will return to Switzerland, where he will become a member of the Executive Board of the Swiss Financial Market Supervisory Authority, FINMA, as the new Head of the Asset Management Division, with effect from 1st January 2020.
Commenting on the announcement, FSRA CEO Richard Teng said, “As a core member of the FSRA management team, Thomas was instrumental in the formulation of framework, policies and processes governing licensing and supervision of banks and insurance intermediaries. While his departure is a loss to the team, we are glad that he has been presented with the opportunity to shape the asset management landscape in Switzerland as an Executive Board member of FINMA. We wish him all the best in his future endeavours and look forward to the continued collaboration with FINMA.”