Maria Velentza will move from her role as head of unit, securities markets, DG Internal Market and Services at the European Commission (EC), in which she was responsible for regulatory policy relating to the MiFID review, a month before MiFID II legislation is expected.
On 16 April, Ugo Bassi, currently head of unit, asset management, will take Velentza's current position as part of a reshuffle. Tilman Lueder, currently head of unit, copyright, will take over Bassi's current job.
With Patrick Pearson, head of unit, financial markets infrastructure, and Francisco Caballero head of unit, analysis of financial market issues, Bassi and Lueder will make up the financial services policy and financial markets directorate, under Emil Paulis.
Velentza joined the EC in 1991 as a legal advisor and has been working in her current unit since October 2002. Her new position will be as head of unit, financial stability, within the financial institutions directorate, which is currently without a director.
A spokesperson for the EC confirmed that the move is part of a reorganisation approved on 30 March, that was due as a number of officials reached the end of their tenures.
The financial services policy, financial markets directorate and the financial institutions directorate will fall under the command of Martin Merlin, who will have a coordinating role as head of unit, financial services policy, for legislative proposals by the EC.
MiFID II proposals are scheduled to be made in mid-May 2011, based on feedback submitted to an EC consultation paper in Q1, a report from the European Parliament and in Q1 and industry representation.