German Ross to chair EU securities watchdog ESMA

Former UK financial regulator Verena Ross has been selected by European Union member states to chair European Union securities watchdog ESMA after months of haggling. Ross, a German national, previously worked for Britain's financial watchdog before stepping down as executive director of ESMA or European Securities and Markets Authority earlier this year.

She was competing for the top job with Carmine Di Noia, commissioner at the Italian securities watchdog CONSOB, who had topped the shortlist of candidates sent by the ESMA to EU states last November.