On Wednesday 3 January 2016, Claude Marx was sworn in as the new Director General of the Commission de Surveillance du Secteur Financier.
Mr. Marx was sworn in by Luxembourg's Minister of Finance, Pierre Gramegna, and is expected to take office on 5 February 2016 to replace Jean Guill who is retiring.
Claude Marx, 49, is a lawyer and has experience in the private sector, having held various management positions in the financial sector with HSBC Private bank (Luxembourg) and Lombard International Assurance SA prior to joining CSSF.
He will be assisted in his new duties by three directors, Simone Delcourt and Claude Simon, whose terms of office were renewed, and Françoise Kauthen, who replaced Andrée Billon on 22 January 2016 after the latter also retired. Françoise Kauthen is an economist and joined the CSSF in 1999 after working at the Luxembourg Stock Exchange. A fifth director is expected to be appointed over the course of the year to join the team currently in place.
The mandates of the members of management have a five-year term and are renewable. For now, the powers are broadly divided into the General Secretariat, International Affairs, the Legal Department and Audit Supervision.
Simone Delcourt is in charge of fund business and the monitoring of specialised PSF, whilst Claude Simon oversees the supervision of banks and provides skills in resolution. Françoise Kauthen handles the monitoring of securities markets, investment firms and support PSF, as well as innovation and the payments component.
During the swearing in ceremony, Minister Gramegna took the opportunity to thank Jean Guill and Andrée Billon for the considerable work they had accomplished since taking up office in 2009. He highlighted the understanding and collegiality that was avident between the former members of management and expressed his expectation that this would continue under the new leadership. He wished Claude Marx luck and showed his appreciation for Mr. Marx having taken the plunge and switched from the private to the public sector.
The ceremony was held at the new CSSF premises in the presence of the Heads of various services.
Photo by MINFIN/CSSF (Françoise Kauthen, CSSF ; Claude Marx, CSSF ; Pierre Gramegna, ministre des Finances ; Simone Delcourt, CSSF ; Claude Simon, CSSF)
