Jean-Paul Servais, Chairman of the FSMA, has been re-elected for a third term as Chairman of the Board of IOSCO, the global organization of financial supervisors. As a result, he will continue to chair IOSCO until 2028. The re-election of Jean-Paul Servais will run concurrently with his chairmanship of the FSMA, as he will remain Chairman of the FSMA until September 2028, when he will reach the age limit. In September 2028, Karel De Bondt will succeed him as Chairman of the FSMA.
Jean-Paul Servais has been Chairman of the Board of IOSCO (International Organization of Securities Commissions) since 2022. He has been re-elected for a two-year term, which runs until 2028. He was re-elected this week during the IOSCO annual meeting.
IOSCO was founded in 1983 and brings together 131 authorities supervising 95% of the global financial markets. The purpose of the organization is to promote cooperation between financial supervisors and to develop standards and best practices at international level.
The re-election of Jean-Paul Servais will run concurrently with his chairmanship of the FSMA, a role he has held since its establishment. He will remain Chairman of the FSMA until September 2028, when he will reach the age limit.
Jean-Paul Servais: ‘I am honoured to have been re-elected for a third term. I would like to thank the members of the IOSCO Board for their enduring confidence, and I look forward to continuing our collaboration. The renewal of my mandate as Chairman of IOSCO is also a recognition of the quality of the FSMA’s work and the excellent reputation it enjoys internationally.’
In September 2028, Karel De Bondt (44) will succeed Jean-Paul Servais as Chairman of the FSMA. Karel De Bondt, an economist by training, is currently a member of the FSMA’s management. He heads the ‘Economic affairs and strategic projects’ department and is already involved in determining the FSMA’s strategic choices and policy options. Among other things, he oversees the risk analysis activities, the drafting of the annual action plan and the data analytics projects.
Karel De Bondt has many years of experience at the FSMA. He began his career in 2006 as a financial analyst. He gained institutional experience in a number of ministerial cabinets and has extensive experience at European and international level. As such, he was seconded to the Permanent Representation of Belgium to the European Union for six years. He is currently also Chairman of the Suptech Working Group of the IAIS, the International Association of Insurance Supervisors, and member of the Digital Finance Steering Committee of EIOPA, the European Insurance and Occupational Pensions Authority.
Jean-Paul Servais: ‘Karel De Bondt will be the right man in the right place and a choice is made for continuity. I have had the pleasure of working with Karel for many years and have guided him throughout his career and development within the institution. He knows the FSMA inside out and is widely appreciated for his insights, experience and interaction with colleagues. Thanks to the combination of economic, institutional and international experience, he will also have the perfect background to continue leading the FSMA in this period, which is characterized by geopolitical and economic uncertainties and rapid technological developments.’
Karel De Bondt: ‘I am deeply honoured to take up the chairmanship of the FSMA in September 2028. Under the chairmanship of Jean-Paul Servais, the FSMA has fulfilled its mission with great success in many areas. In the current international economic and geopolitical climate, the mission of financial supervisors is more relevant than ever in ensuring confidence and robust protection for financial consumers. I am therefore fully committed to continuing this work.’
