The Management Board is Chaired by the ESMA Chair and a representative from the European Commission also attends on an observer basis. The following senior Members of the Board of Supervisors make up the ESMA Management board.
| Country | Authority | Board member |
| Germany | Bafin | Karl-Burkhard Caspari |
| Estonia | FSA | Raul Malmstein |
| Spain | CNMV | Fernando Restoy |
| Luxembourg | CSSF | Jean Guill |
| Austria | FMA | Kurt Pribil |
| Portugal | CMVM | Carlos Tavares |
| UK | FSA | Martin Wheatley |