One of the top executives at Switzerland's financial regulator has died at the age of 53 after a long illness.
Michael Loretan, head of the asset management division and deputy chief executive of the Swiss Financial Market Supervisory Authority FINMA, has died at the age of 53 after a long illness.
“It was with great sadness that we learned of the death of Michael Loretan on Tuesday 22 January 2019. Although he had been ill for a long time, his death came unexpected,” the regulator said in a statement.
Loretan joined FINMA in 2011 after a career in the finance industry. He was appointed a member of the executive board in 2014 and the board of directors named him as deputy CEO of FINMA in October 2018.
“He was held in extremely high regard by employees, colleagues and in the finance industry. Michael Loretan’s death leaves a big void. We express our sincere condolences to his family,” FINMA said.