Education Branson studied Mathematics and Management Studies (M.A.) at
Trinity College,
University of Cambridge, from 1986 to 1990, and also obtained a master's degree in Operational Research (M.Sc.) at
Lancaster University.
Bank Manager Initially, Branson worked for the major
Swiss bank
Credit Suisse, among other things in a management position in
London. Between 1997 and 2009 he held various positions with UBS, another major Swiss bank, including
Union Bank of Switzerland (UBS) head of communications from 2001 to 2005. From 2006 to 2008, he held the position of CEO of UBS Securities Japan Ltd. and was country head in
Japan. Most recently, he has been CFO of UBS's
Wealth Management and Swiss Bank business division in
Zurich, responsible for finance and risk control. There he was responsible for investment banking, the securities business as well as asset management and wealth management. As a result of the manipulation and the "
Libor scandal" respectively, UBS Bank was to pay fines of EUR 2.5 billion and EUR 1.2 billion. The
European Commission waived the EUR 2.5 billion fine because UBS helped to clarify the manipulation. As director of FINMA, Branson was chairman of the national committee for financial crises and a member of the advisory board "Future Financial Centre". On 1 November 2017, he also became Chair of the Resolution Steering Group (ReSG) of the
Financial Stability Board (FSB) and thus a member of its
Steering Committee. He also represented Switzerland as a member of the Group of
Central Bank Governors and Heads of Supervision (GHOS). He left FINMA at the end of May 2021.
Federal Financial Supervisory Authority German
Finance Minister Olaf Scholz (
SPD) announced on 22 March 2021 that Branson would succeed Felix Hufeld, former President of the
Federal Financial Supervisory Authority (BaFin), by 1 August 2021 at the latest. Branson took office on 1 August 2021. He is a member of the Financial Stability Committee (AFS) and continues to chair the Resolution Steering Group (ReSG) of the
Financial Stability Board (FSB). == References ==