Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) announced on Monday that Marco Zwick’s mandate as the director in charge of supervising investment funds has been renewed for an additional five years, effective from September 1, 2023. Zwick has been serving in this role since 2018. CSSF meanwhile also said that a decision on the renewal of the mandate for its chief bank supervisor, Claude Wampach, was made in July per royal decree. Wampach’s mandate thus is extended by five years until December 2028.
Zwick brings an extensive background in the financial sector to his role at the CSSF. He holds a Master’s degree in Business Administration from Sheffield Business School at Hallam University and has been active in various capacities within the financial industry since 1989. Notably, he chaired the Anti-Money Laundering (AML) Working Group of the Association of the Luxembourg Fund Industry (Alfi) for 13 years. He also co-chaired the Financial Action Task Force working group on Risk-Based Approach Guidance for Securities, collaborating with the U.S. Stock Exchange Commission.
Before joining the CSSF he served eight years as global head of AML for RBC ITS and more than ten years as compliance and risk director at Schroders Investment Management.
The executive board of the CSSF comprises five members, including Claude Marx as the director-general. Marx’s current five-year term is set for renewal in 2026. The board also includes Françoise Kauten, Jean-Pierre Faber, and Claude Wampach, whose next five-year mandate from 1 January 2024 was has been renewed per Luxembourg royal decree signed on 25 July.
(This article has been updated to clarify that Claude Marx’s five-year term is up for renewal in 2026 and to add that a decision on Claude Wampach’s next mandate was made on 25 July)