Swiss Re's Raaflaub to head new regulator

Patrick Raaflaub, the head of group capital management at Swiss Re, a reinsurance company, will direct Switzerland's new super regulator the Financial Market Supervisory Authority (FINMA).

He will lead the regulator when it assumes responsibility for the Swiss financial system on 1 January next year.

Monica Machler, now the director of the Federal Office of Private Insurance, and Daniel Zuberbuhler, the director of the Swiss Federal Banking Commission, were both promoted to the board and will