Dr. Marcus Pleyer of Germany assumed the position of President of the FATF on 1 July 2020. He succeeded Xiangmin Liu of the People's Republic of China. Dr. Pleyer serves as Deputy Director General in Germany’s Federal Ministry of Finance with responsibilities for policy development and international engagement pertaining International Financial Markets (including FSB, G7, G20 matters), Anti- Money Laundering and Counter-Terrorism Financing (AML/CFT), Financial Sanctions Policy, Digital Finance including Payment Services and Cyber Security and national and international development banks