Two new directors are assigned to CSSF

The Ministry of Finance announced two new directors of the Commission for the Supervision of the Financial Sector (CSSF)

On the proposal of Pierre Gramegna, Minister of Finance, the Council of Government decided yesterday 25 July to propose to the Grand Duke the appointment of Marco Zwick as Director in charge of the OPC (fund) business of the Financial Sector Supervisory Commission (CSSF) and Claude Wampach as director in charge of banking supervision of the CSSF. They will take up their duties upon the retirement of Simone Delcourt and Claude Simon, on 1 September 2018 and 1 January 2019 respectively.

Marco Zwick, a Luxembourg national, has been a member of the Executive Management Committee of RBC Investor Services Bank SA since 2015. From 2005 to 2015, he held the positions of Head of Compliance and Risk Management at Schroders Investment Management (Luxembourg) SA. This was preceded by several years of experience with various Luxembourg banking institutions. Marco Zwick holds a Master of Business Administration from Sheffield Business School (Hallam University).

Claude Wampach, also a Luxembourg national, is currently the Senior Management Consultant and Deputy Head of the Banking Supervision Department of the CSSF. After two years with the Banque générale de Luxembourg, he began his career at the CSSF in 2001 in the banking supervision department. Claude Wampach is also the Luxembourg representative to the Basel Committee on Banking Supervision. He holds a doctorate in economics from the Catholic University of Louvain.

Pierre Gramegna comments: “With Marco Zwick and Claude Wampach, the management of the CSSF will be reinforced by two experts whose skills are well established and recognized by the sector. The CSSF will thus be able to continue to fulfil its increasingly numerous and complex tasks with the necessary diligence and rigor, while keeping this spirit of innovation and dialogue, which makes it a real asset for the financial market.”