Executive Board

The Financial Market Authority (FMA)’s Executive Board, Mr. Helmut Ettl and Mr. Eduard Müller, manages the service operation and lead business in accordance with the Authority’s legal basis and the Rules of Procedure.

Executive Directors Ettl and Müller standing in front of a white curtain

Portrait of FMA Executive Director Helmut EttlHelmut Ettl was born on 23 August 1965, and studied Economics at the Johannes Kepler University in Linz. After completing his alternative service, he worked in various managerial positions for the City of Linz child-welfare services. In 1995, he moved to Vienna and joined the Foreign Research Division of the Oesterreichische Nationalbank (OeNB), his thematic focus being on economic and monetary union. In 2001, he was appointed deputy head of the Banking Analysis and Inspections Division and became its head in 2003. In 2008, Helmut Ettl was appointed as FMA Executive Director. Since 2011 he has been a member of the Board of Supervisors of the European Banking Authority (EBA) and European Systemic Risk Board (ESRB). Between 2008 and 2010 Helmut Ettl was a member of the Committee of European Banking Supervisors (CEBS). His current term as FMA Executive Director runs until 13 February 2028. Since January 2014 Helmut Ettl has been a voting member of the Supervisory Board of the Single Supervisory Mechanism of the European Central Bank (ECB). Between 1 April 2019 and 31 March 2020, he was a Member of the Steering Committee (SC) of the Single Supervisory Mechanism (SSM). Between 2021 and 2023, he was a Member of the Management Board of the European Banking Authority (EBA) and was elected the Alternate Chair of the European Banking Authority (EBA) in July 2023.

SSM Calendars

Portrait of FMA Executive Director Eduard MüllerEduard Müller has been Executive Director at the FMA since February 2020. In this function, since September 2020 he is a Member of the Board of Supervisors of the European Securities and Markets Authority (ESMA) as well as a Member of the Single Resolution Board (SRB). In May 2022 he was also elected to the Management Board of ESMA. Prior to assuming his position at the FMA, worked at the Federal Ministry of Finance and the European Commission. In 2013, he was appointed General Manager of the Linde Verlag publishing house, before returning to the Federal Ministry of Finance in 2015 as Head of Section. Between June 2019 and January 2020, he served as Federal Minister of Finance as well as Minister for the Civil Service and Sport. He holds a graduate degree in Economics and a postgraduate MBA.

Organisation Chart

The FMA is divided into six departments:

  • Banking Supervision
  • Insurance and Pension Company Supervision
  • Securities Supervision
  • Integrated Supervision
  • Services
  • Banking Resolution

The two staff divisions “Enforcement and Law” and “Internal Audit” report directly to the Executive Board.

FMA Organisation Chart 05/24 (Format: pdf, Size: 28,2 KB, Language: English)

Rules of Procedure

The FMA’s Rules of Procedure govern the organisational structure and the distribution of responsibilities among the FMA’s organisational units as well as deputisation rules.

The FMA’s Rules of Procedure of the FMA are available in in German.

Code of Conduct

The Code of Conduct highlights the principles to which employees of the FMA adhere and serves equally as guidance and as a pledge towards the general public.

Code of Conduct der FMA (Format: pdf, Size: 177,7 KB, Language: German)

Supervisory Board

The Supervisory Board consists of eight members, who like the Executive Directors are appointed by the Minister of Finance and the Oesterreichische Nationalbank. The Austrian Economic Chambers (WKO) proposed two additional co-opted members. The Supervisory Board oversees the management of the FMA; for certain undertakings the approval of the Supervisory Board is required.

Chairman: Harald WAIGLEIN, Federal Ministry of Finance

Vice-Chairman: Robert HOLZMANN, Oesterreichische Nationalbank


  • Gabriela DE RAAIJ,  Oesterreichische Nationalbank
  • Elisabeth GRUBER, Federal Ministry of Finance
  • Gottfried HABER, Oesterreichische Nationalbank
  • Manuel ZAHRER, Federal Ministry of Finance
  • Karin TURNER-HRDLICKA, Oesterreichische Nationalbank
  • Nadine WIEDERMANN-ONDREJ, Federal Ministry of Finance

Co-opted members:

  • Louis NORMAN-AUDENHOVE, Austrian Association of Insurance Companies
  • Franz RUDORFER, Federal Division for Banks and Insurance, Austrian Economic Chambers