Swedish Financial Regulator Chief Resigns With Immediate Effect

The head of the Swedish Financial Supervisory Authority stepped down with immediate effect just months after his term was extended for another three years.

Martin Andersson, who has led the agency since 2009, is leaving to become partner at consulting firm Oliver Wyman, according to a statement on the authority’s website. Martin Noreus will be acting director-general until the government appoints a permanent replacement.

“It has been a fantastic time,” Andersson said in the statement. “At the same time the FSA is facing new challenges. At that juncture, I think it’s a good occasion to hand over to someone else who can lead the FSA.”

The regulator is preparing to introduce a rule in August that will force homeowners to pay down their mortgages quicker than before amid concern over record high private debt levels and surging housing prices.

Financial Markets Minister Per Bolund said he regretted Andersson’s resignation.

“He has done a good job and I would have liked that he had stayed for the remainder of his term,” he said in a statement.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE