The board’s function is to determine ICMA’s strategy and major policy matters of the Association and to supervise the Chief Executive, the executive committee and the functions of ICMA generally.
The following board committees assist it in performing its supervisory role:
- the audit, compliance and governance committee oversees compliance by the Association with all laws, rules and regulations applicable to it in order to enable the board to conduct appropriate supervision of the Association's regulatory affairs and for overseeing, controlling and reporting on the budgetary process and financial control of ICMA;
- the oversight committee supervises the executive committee and any committee established by the executive committee; and
- the compensation committee reviews and recommends the compensation of the Association’s senior executives to the board.
The board comprises 22 members, 21 of which are normally elected by the general meeting and one of which, the Chief Executive, is appointed by the board. The term of office of each of the 21 elected board members is three years. At each ordinary general meeting one-third of the 21 elected board members (i.e. seven) must retire. Retiring board members may be re-elected for one additional consecutive term of office of three years. When a board member leaves the board prior to the expiry of his/her term of office the nomination committee appoints a successor to the board who completes the predecessor’s term of office. The Chief Executive is an “ex-officio” board member during the tenure as Chief Executive. The statutes stipulate that when considering the nomination of candidates for the board elections at the general meeting, the nomination committee’s selection of the candidates must reflect a balanced representation in the board of:
- the geographic composition of the Association and the current importance in the international capital markets of particular regions or areas; and
- the various functions in the markets.
A candidate for board membership is typically expected
- to be involved in the capital markets’ business;
- to exercise a function at a senior level (managing director or equivalent) within his/her member firm;
- to be able to commit resources of his/her member firm in capital markets for ICMA activities; and
- to be able to participate in ICMA committees and working groups as chairman or otherwise and to represent ICMA at conferences and other public events from time to time.
The current board members are:
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Mandy DeFilippo (Chair) Citadel Securities London term: until the AGM 2023 |
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Janet Wilkinson (Vice Chair) RBC Europe Limited London term: until the AGM 2025 |
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Jean-Luc Lamarque (Deputy Chair) Crédit Agricole Corporate and Investment Bank London term: until the AGM 2025 |
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Gareth Allen UBS AG London term: until the AGM 2023 |
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Amine Bel Hadj Soulami BNP Paribas Bahrain term: until the AGM 2024 |
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Jonathan Brown Barclays Capital Securities Limited London term: until the AGM 2023 |
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Dr. Frank Engels Union Asset Management Holding AG Frankfurt am Main term: until the AGM 2025 |
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Stephen Fisher BlackRock Investment Management (UK) Limited London term: until the AGM 2025 |
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Jérôme Jean Haegeli Swiss Re Management Ltd Zurich term: until the AGM 2024 |
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Reiko Hayashi Bank of America Merrill Lynch Tokyo term: until the AGM 2023 |
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Kun Hu Bank of China Limited Beijing term: until the AGM 2025 |
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Eila Kreivi European Investment Bank Luxembourg term: until the AGM 2023 |
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Marc Lewell J.P. Morgan SE, Paris Branch Paris term: until the AGM 2024 |
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Ingo Ralf Mainert Allianz Global Investors GmbH Frankfurt am Main term: until the AGM 2023 |
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Chris Muyldermans KBC Bank N.V. Brussels term: until the AGM 2024 |
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Bryan Pascoe (ex-officio as ICMA’s Chief Executive) ICMA London term: n/a |
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Henrik Raber Standard Chartered Bank Singapore term: until the AGM 2025 |
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Heleen van Rooijen Nederlandse Waterschapsbank N.V. The Hague term: until the AGM 2023 |
Observer: |
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Christophe Roupie MarketAxess Chair of ICMA's Market Infrastructure Advisory Group |