Germany’s Verena Ross has a strong chance of replacing Dutchman Steven Maijoor as head of the European Securities and Markets Authority (ESMA), after Member State representatives (Coreper) approved her candidacy, on Wednesday 22 September, in a secret ballot.
Ms Ross, who was Executive Director of the European authority after working at the UK’s Financial Conduct Authority, was competing with Italy’s Carmine di Noia, a Commissioner at the Italian Securities and Exchange Commission.
This choice goes against the hierarchy established by ESMA, which had placed Mr di Noia’s candidacy ahead of that of Ms Ross. In a Presidency paper prepared in advance of the vote, the Slovenian EU Council Presidency stressed that “the starting point (should) be to support the candidate who has been placed first by the Management Board, unless a number of Member States object”.
At the end of 2020, ESMA had initially selected three candidates. In addition to Ms Ross and Mr di Noia, the list included the former Portuguese Finance Minister, Maria Luis Albuquerque (see EUROPE 12610/35).
Ms Ross’ appointment still has to be approved by the European Parliament. MEPs have long fought for more women to be promoted to senior European positions in the financial services sector. They have repeatedly lobbied the Slovenian Presidency to unblock the dossier in the EU Council, as the procedure has been delayed for almost a year. (Original version in French by Mathieu Bion)