22 February 2011

ESMA nominates Verena Ross as Executive Director

The Executive Director will be entrusted with the day-to-day management of ESMA. According to the Regulation establishing ESMA, the Executive Director will serve a term of five years, renewable once.

Verena Ross is currently Director of the International Division at the UK Financial Services Authority (FSA). The Division carries out FSA’s international work, including the co-ordination of its EU and international committee work, and provides strategic technical advice on EU and international policy issues. Verena Ross is also a member of the FSA's Executive Committee and the Executive Policy and Risk Committees. Prior to this role, Ms Ross was the Director of the FSA's Strategy and Risk Division and Head of Market Infrastructure.

Ms Ross has a proven track record in capital market policy and supervision issues. After studying in Hamburg, Taipei and London (SOAS), she started her career at the Bank of England as an economist covering the East Asian economies before becoming a banking supervisor. From 1998 to 2000 she ran the Executive Chairman's office for Sir Howard Davies during the creation and early years of the FSA. She was also briefly seconded as an advisor to the Securities and Futures Commission in Hong Kong in 2000.

Verena Ross, Executive Director-elect of ESMA, today after her nomination said: “I would like to thank the members of ESMA’s Board of Supervisors for the trust they have shown in me and I am delighted and humbled to be nominated as Executive Director of ESMA. The opportunity to participate in the shaping of this new Authority, together with the Chairman, Steven Maijoor, is both a great challenge and an important opportunity to serve Europe’s citizens. Should my nomination be confirmed by the European Parliament, ensuring ESMA develops into a strong, independent and smoothly managed body will be crucial in my view for its reputation towards all its stakeholders.”

In January, the BoS of ESMA elected Steven Maijoor as ESMA’s first Chairman and Carlos Tavares as Vice-Chairman. Mr Maijoor’s appointment was confirmed by the European Parliament in February; he will take office on 1 April 2011. Should the European Parliament confirm the appointment of Verena Ross as ESMA’s Executive Director, ESMA’s top management will be in place.

Press release 

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