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FINMA Executive Board member Alexandra Karg will leave the Swiss financial regulator on Nov. 30, 2026, after 10 years leading its Operations division. FINMA will rename that unit Digital and Infrastructure and create a separate Business Management and Strategy division; two Executive Board vacancies will be advertised.
Alexandra Karg, a member of the Swiss Financial Market Supervisory Authority FINMA’s Executive Board and head of its Operations division, will leave the regulator on Nov. 30, 2026, after 10 years at the authority. FINMA said it will reorganise the division’s responsibilities, renaming Operations Digital and Infrastructure and establishing a new Business Management and Strategy division.
Karg has led Operations and served on FINMA’s Executive Board since 2016. FINMA said she plans to take up a new role outside the organisation after a cooling-off period, but did not name the future employer or specify the length of that period. The regulator’s CEO and Executive Board thanked her for her work.
Under the announced structure, Digital and Infrastructure will focus on the authority’s digital, technological and infrastructure development. The new Business Management and Strategy division will bring together Finance, Human Resources, Communications, the CEO Office and Implementation of Transformation. FINMA said the arrangement is intended to coordinate strategic implementation and provide integrated business management in line with the strategy set by its Board of Directors.
The Chief Risk Officer will continue to report directly to the CEO. FINMA said two vacant Executive Board positions will be advertised internally and externally in the near future. Until those positions are filled, the current organisational structure will remain in place, with Operations managed on an interim basis from Dec. 1.
How FINMA Will Divide Its Work
The restructuring changes how FINMA groups its internal operational and strategic functions. Rather than keeping those responsibilities together under Operations, the authority plans to give technology and infrastructure a dedicated division while consolidating finance, staffing, communications and transformation work in a separate unit.
That division of responsibilities matters because FINMA supervises Switzerland’s financial markets and relies on its own technology, data, security and internal management to carry out that work. The authority says the new arrangement will focus technology applications and coordinate delivery of its strategy more directly. It has not provided further detail about changes to specific projects, staffing levels or budgets.
Karg’s departure also creates a leadership change after a decade in the role. FINMA credited her with contributing to its digital transformation, leading its Covid-19 task force and developing and professionalising Operations. The announcement sets out the organisational plan, but does not describe how her successor will be selected beyond saying that two Executive Board vacancies will be advertised.
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Karg’s Decade Leading Operations
Karg has headed FINMA’s Operations division since 2016 and has been an Executive Board member throughout that period. FINMA described her tenure as a period of substantial change, highlighting digital transformation, work on IT security and data, and her leadership of the authority’s Covid-19 task force.
FINMA’s stated rationale for the reorganisation is to focus the former Operations division more closely on applying technology within the authority, while coordinating strategic objectives more directly across business functions. The Board of Directors defines the strategy; the proposed Business Management and Strategy division is intended to support its implementation and assist the CEO and Executive Board.
The plan does not remove the Chief Risk Officer’s direct reporting line to the CEO. FINMA specifically said that arrangement will continue under the revised structure, distinguishing the risk function from the areas being regrouped.
“On behalf of the entire Executive Board, I would like to extend my sincere thanks to Alexandra Karg for her dedication during her ten years as Head of FINMA’s Operations division.”
— FINMA CEO Stefan Walter
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Successors and Interim Leadership
FINMA has not identified who will fill the two vacant Executive Board positions, and it has not given a timetable for completing the appointments beyond saying recruitment will begin in the near future. The authority also has not named Karg’s next employer or said how long her cooling-off period will last.
The announcement says Operations will be managed on an interim basis from Dec. 1, 2026, but does not identify the interim manager or explain whether the revised divisions will begin operating on that date. Until the vacant positions are filled, FINMA says the current organisational structure will remain in place. Further operational details, including any effects on teams or ongoing initiatives, have not been provided.
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Recruitment and the December Handover
FINMA says it will advertise the two vacant Executive Board positions internally and externally in the near future. Karg is scheduled to leave on Nov. 30, with Operations to be managed on an interim basis beginning the next day. The authority has not announced who will take on that interim responsibility.
Readers can expect further information as FINMA confirms appointments and explains when the revised structure will take effect. For now, the regulator’s announcement establishes the intended division of responsibilities but leaves the recruitment timetable and practical handover arrangements open.
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Key Questions
When will Alexandra Karg leave FINMA?
FINMA says Karg will leave on Nov. 30, 2026, after 10 years leading its Operations division and serving on the Executive Board.
What will replace the Operations division?
FINMA plans to rename Operations Digital and Infrastructure, focusing it on digital, technological and infrastructure development. A separate Business Management and Strategy division will take on several business and strategy functions.
Which teams will be part of the new division?
Business Management and Strategy will comprise Finance, Human Resources, Communications, the CEO Office and Implementation of Transformation, according to FINMA.
Has FINMA named Karg’s successor?
No. FINMA says two vacant Executive Board positions will be advertised internally and externally, but it has not named successors or set out a completed appointment timetable.
What happens to the Chief Risk Officer’s reporting line?
The Chief Risk Officer will continue to report directly to the CEO, FINMA said.
Source: primary
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