The European Parliament confirmed the appointment of Fausto Parente as the new Executive Director of the EIOPA. His five-year term starts on 1 April 2016.
Fausto Parente, currently Head of the Supervisory Regulation and Policy Directorate of IVASS – Istituto di Vigilanza sulle Assicuarazione, the Italian Insurance Supervisor, has a distinguished career in supervisory regulation and policy at national and international level.
His appointment follows an open selection procedure, a nomination by European Insurance and Occupational Pensions Authority’s(EIOPA) Board of Supervisors and a public hearing at the European Parliament's Committee on Economic and Monetary Affairs.
"It is a privilege for me to serve as EIOPA's second Executive Director. I express my sincere thanks to EIOPA's Board of Supervisors and to the European Parliament for their support and trust. The next five years are extremely important for EIOPA in managing, adopting and fostering the necessary changes to move from regulation to supervision in the insurance sector", said Fausto Parente. He continued: "I am fully committed to contributing to further build up EIOPA, as a strong inclusive supervisory authority with a clear focus on the interests of EU citizens".
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