How did you get into inclusive finance?
As chief executive of the Luxembourg Stock Exchange (LuxSE) I was involved as early as 2000 in different financial transactions concerning inclusive finance intruments, in particular with the listing application of microfinance investment funds. In 2006, the Luxembourg Stock Exchange was founding member of LuxFLAG where I served on the board until 2012. When I left the LuxSE I joined ADA (Appui au Développement Autonome) and InFiNe as board member and I was elected Chairman of the board of InFiNe. Now I am also member of the board of Investing for Development SICAV (IforD).
What are your responsibilities at LMDF?
Members of the board of directors represent diverse perspectives and in a collegial manner we have to perfom duties of oversight and strategic planning.
I myself have been proposed as a board member by ADA an important stakeholder for IforD. In this capacity I cannot be qualified as an independent director.
This being said despite my role as ADA representative I try as much as possible to bring in my past and present professional experiences concerning in particular the field of regulatory requirements and compliance (prospectus requirements, AML/KYC, sustainable finance).
What excites you the most about your position as a board member?
It is always exciting to be part of a more specific undertaking like the IforD. “Investing for Development” in the way as it is pursued by the board. This is a field where few professionals are active and this makes it the more interesting but also the more challenging. The very innovative approaches adopted by IforD and its current two sub-funds give me a deep insight in the way inclusive finance can be achieved in sometimes very difficult geographical surroundings.
Of course my mandate with the board allows me also to remain active in a field I know well due to my past experience and where I can still keep active my professional business network.
What about the future?
Well, I cannot stay for ever with the board, but I stand ready to serve for some more years if this can be in the best interest of the Fund, its stakeholders and its staff.
