NETHERLANDS - Ronald Gerritse started last Monday at the Netherlands’ Financial Markets Authority (AFM) in his new position as chairman of the board.
He will take part in an internal introductory programme and hold introductory meetings with market participants and other stakeholders, according to the AFM.
He will also take part in meetings with both domestic and foreign supervisory agencies.
In a column he wrote for AFM publication ‘Insight’, Gerritse recently said he considered “fair and square, honest and sincere” to be the “alpha and omega” of acting in financial markets.
Those same standards apply to the supervisor, as far as he is concerned. A supervisory agency should be honest, sincere, open and transparent, he said.
Not only has public faith in the financial industry been damaged, but, according to Gerritse, faith in the supervisor has suffered as well.
To regain the trust that has been lost, he said he would “collaborate as much as possible”.
In his column, he announced his intention to invest in relations with the industry and with stakeholders and their organisations, but also with state departments and other supervisory agencies.
Gerritse has replaced Hans Hoogervorst, who was named chairman of IASB earlier this year.
From 2003 to 2011, Gerritse served as secretary general at the department of finance, and from 2008, he was also treasurer general at the same department.
In his position, he was closely involved with several bailout operations to shore up financial institutions during the credit crisis.
Previously, he served as secretary general at the department of Social Affairs and Labour (1996-2003) and general secretary of the Social and Economic Council (1990-96).