Tavares is chairman of Comissão do Mercado de Valores Mobiliários, the Portuguese regulator. Guill is director-general of Luxembourg’s Commission de surveillance du secteur financier.
The body hopes the appointments will ensure a smooth transition for CESR as it prepares to become the European Securities and Markets Authority (Esma), an EU pan-regulatory force with increased powers.
Under the CESR charter, the positions are held for two years. It is likely on this occasion, however, that the creation of Esma — expected to take effect in January 2011 — may result in a shorter term being served.