ESMA appoints new chair of CCP supervisory committee
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ESMA appoints new chair of CCP supervisory committee 24 September 2020Frankfurt Reporter: Natalie Turner
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The European Securities and Markets Authority (ESMA) has appointed Klaus Loeber as chair of the central counterparty (CCP) supervisory committee, while Nicoletta Giusto and Froukelien Wendt will join as independent members.
Loeber, who is based in Frankfurt, works as the head of division at the European Central Bank (ECB) where he has been for just over 18 years.
He joined ECB in 1998 where he worked as an advisor and head of the oversight division.
The new committee chair left the ECB in September 2012 to pursue the role of head of secretariat, committee on payments and market infrastructures at the Bank for international settlements for over three years before returning to the ECB in May 2016.
Elsewhere, Giusto is the head of international relations at Italian financial regulator Consob and Froukelien Wendt is the senior financial sector expert at the International Monetary Fund.
Steven Maijoor, chair of ESMA says: 鈥淭he appointment of Klaus Loeber, Nicoletta Giusto and Froukelien Wendt is an important step in completing the implementation of the European Markets Infrastructure Regulation (EMIR) 2.2 regime to ensure consistent and effective supervision of EU and global clearing infrastructures.鈥�
ESMA says the new CCP supervisory committee will strengthen its role in enhancing the safety and efficiency of CCPs both in the EU and in third countries.
The authority鈥檚 board of supervisors submitted the nominations in August, and the individuals were approved by the European Parliament earlier this month.
The chair and independent members will serve a five-year mandate which can be extended once.
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