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Private banker becomes new director-general of Luxembourg regulator

Chris Hamblin, Editor, London, 23 February 2016

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Pierre Gramegna, Luxembourg's finance minister, has sworn in Claude Marx as the new CEO of the Financial Sector Supervisory Commission (CSSF).

Claude Marx, 49, is a lawyer by trade. Before joining the CSSF, he held various positions, especially as the deputy CEO at HSBC Private Bank (Luxembourg) and CEO of Lombard International Assurance. His experience in wealth management is considerable. He has replaced Jean Guill, who has retired. He is being assisted in his duties by three directors: Simone Delcourt and Claude Simon, whose terms were renewed; and Françoise Kauthen, who replaced Andrée Billon who retired on 22 January. Françoise Kauthen is an economist who joined the CSSF in 1999 after working at the Luxembourg Stock Exchange. Another director will be appointed to join the team in the course of the year. The top managers' contracts last five years and are renewable.

Claude Simon oversees banking supervision. Françoise Kauthen handles the monitoring of asset managers. At the swearing-in ceremony, the minister took the opportunity to thank Jean Guill and Andrée Billon for the work they have done since they took on their jobs at the CSSF in 2009.

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