Urban Angehrn (FINMA director) announced resignation at same moment Parreaux, Thiébaud & Partners decision published
FINMA closed the business of Parreaux, Thiébaud & Partners / Justicia SA in April 2023 but they did not publish their judgment at the same time.
6 September 2023 they announced the resigntion of Urban Angehrn, director of FINMA since 1 November 2021.
Challenges that were successfully overcome under his leadership include, in particular, [ ... snip ... ], the supervision of supplementary health insurance geared towards client protection and the conclusion of complex enforcement proceedings.
19 September 2023 FINMA published the judgment against Parreaux, Thiébaud & Partners / Justicia SA. They suppressed the names and dates in the document.
Mr Angehrn departed on 30 September.
They wrote that Mr Angehrn had closed the business of Parreaux, Thiébaud & Partners / Justicia SA "successfully". But the clients received nothing.
He had shut down just one single scam in almost two years as director of FINMA.
Thanks to the financial accounts for 2023, we found the director's salary CHF 602,000 and the termination payment CHF 581,000.
”Being able to contribute to the sustainable improvement of the quality of the Swiss financial centre as CEO of FINMA was a unique challenge for me, and one that I tackled with all my might. However, the high and permanent stress level had health consequences. I have considered my decision carefully and have now decided to step down,” says Urban Angehrn.
He resigned due to stress and he received CHF 581,000 as a leaving gift. The clients received nothing.