The board is responsible (i) for determining the strategy and major policy matters of the Association within its stated objectives (article 2 of the statutes); and (ii) for supervising the Chief Executive, the executive committee and the functions of ICMA generally. The board consists of sixteen members, one of which is the Chief Executive. Board members do not receive compensation from the Association (other than the Chief Executive). The board has established the following committees assisting it in performing its supervisory role:

(a) the audit, compliance and governance committee which 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 the Association;

(b) the oversight committee which supervises the executive committee and any committee established by the executive committee; and

(c) the compensation committee which reviews and recommends the compensation of the Association’s senior executives to the board.

Under ICMA's statutes, one third of the total number of board members - excluding the Chief Executive - must retire at each ordinary general meeting. Retiring members may be re-elected for not more than one additional consecutive term of office of three years.

Philipp Alena
Bank Vontobel AG
Zurich

Cyrus Ardalan
Chairman
Barclays Bank plc
London

Baudouin van Caubergh
KBC Bank NV
Brussels

Frank Czichowski
KfW
Frankfurt am Main

Godfried De Vidts
ICAP Securities Limited
London

Martin Egan
BNP Paribas
London

Spencer Lake
Deputy chairman
HSBC Bank plc
London

Massimo Mocio
Vice chairman
Banca IMI S.p.A.
Milan

John Nugée
State Street Global Advisors Limited
London

Robert Parker
Credit Suisse
Zurich

Maxim Safonov
Sberbank of Russia
Moscow

Martin Scheck
Chief Executive
ICMA
Zurich

Tim Skeet
The Royal Bank of Scotland plc
London

Laurens Veldink
ING Bank N.V.
Amsterdam

Hakan Wohlin
Deutsche Bank AG
London

 

Under ICMA's statutes, candidates for board membership must be experienced and suitable persons associated with an ICMA member (other than an associate member). The selection of the candidates must reflect a balanced representation in the board of the geographical composition of the Association and the current importance in the international securities markets of particular regions or areas, and the various functions in the markets.