Alexandra Karg, Head of the Operations division and a member of the Executive Board, has decided to leave the Swiss Financial Market Supervisory Authority FINMA on 30 November 2026, after 10 successful years. The same announcement states that the Operations division will be streamlined and renamed Digital and Infrastructure, and that A new division – Business Management and Strategy – will be established, comprising the Finance, Human Resources, Communications, CEO Office and Implementation of Transformation sections and groups, and will ensure integrated business management in line with the defined strategy. Alexandra Karg has decided to leave FINMA at the end of November 2026 and, following a cooling-off period, will take on a new role outside the organisation.
Karg to Step Down After a Decade Leading Operations
FINMA combined news of the departure with the structural changes in the same statement, treating the personnel move and the divisional overhaul as a single update. She has headed FINMA’s Operations division as a member of the Executive Board since 2016. FINMA said Alexandra Karg’s term in office was characterised by far-reaching changes, which she played a key role in shaping, not least FINMA’s digital transformation, her leadership of the Covid-19 task force, and the significant development and professionalisation of the Operations division.
In unrelated coverage, InsuraBeat has also reported on the regulator’s enforcement action that forced staff reductions and sales curbs at a major Swiss insurer.
Operations Division Renamed Digital and Infrastructure
FINMA said the restructuring is designed to focus the tasks of the former Operations division more closely on the application of technology within FINMA, whilst at the same time coordinating the implementation of the authority’s strategic goals and objectives in an even more targeted manner, the following changes will be made. FINMA said in the announcement detailing the new division structure that The Operations division will be renamed Digital and Infrastructure and will focus on shaping and managing the company’s digital, technological and infrastructural development.
In another unrelated item, InsuraBeat has reported on the regulator’s findings on artificial intelligence governance across the Swiss insurance sector.
New Business Management and Strategy Division Takes Shape
Describing the second new unit in fuller detail, FINMA said in its statement on the reorganisation that In addition, a new division – Business Management and Strategy – is being established. It will encompass the areas of Finance, Human Resources, Communications, CEO Office and Implementation of Transformation, and will ensure integrated business management in line with the strategy defined by the Board of Directors, while supporting the CEO and the Executive Board.
FINMA also specified that The Chief Risk Officer function will continue to report directly to the CEO.
Executive Board Thanks Karg as Transition Begins
“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. Alexandra has shown great personal commitment in driving forward the professionalisation of the Operations division and the further development of IT, IT security and the data landscape. We very much regret Alexandra’s decision to leave FINMA and wish her every success in the future.”
Stefan Walter, Chief Executive Officer, FINMA
On the question of succession, FINMA added in the same announcement that The two vacant Executive Board positions will be advertised internally and externally in the near future.
FINMA also addressed the timeline for filling the two roles, saying that Until these positions are filled, the current organisational structure will remain in place and the Operations division will be managed on an interim basis from 1 December.
In unrelated coverage, InsuraBeat has also reported on BaFin’s expanded role overseeing artificial intelligence systems used by insurers. In another unrelated development in the Swiss market, InsuraBeat has reported on the completed combination of two major Swiss insurance carriers.
What the Announcement Changes, in Summary
Taken together, FINMA’s announcement means that the Operations division will be streamlined and renamed Digital and Infrastructure; that A new division – Business Management and Strategy – will be established, comprising the Finance, Human Resources, Communications, CEO Office and Implementation of Transformation sections and groups, and will ensure integrated business management in line with the defined strategy; and that the Chief Risk Officer function will continue to report directly to the CEO. FINMA’s own description of the person at the centre of the change remains that Alexandra Karg’s term in office was characterised by far-reaching changes, which she played a key role in shaping, not least FINMA’s digital transformation, her leadership of the Covid-19 task force, and the significant development and professionalisation of the Operations division. As for the handover itself, FINMA’s position is that Until these positions are filled, the current organisational structure will remain in place and the Operations division will be managed on an interim basis from 1 December.
Frequently Asked Questions
When will Alexandra Karg leave FINMA?
What will FINMA’s Operations division be renamed?
What areas will the new Business Management and Strategy division cover?
Source: FINMA, “FINMA Executive Board: Alexandra Karg to leave FINMA; new division to be created,” published on the regulator’s website.
