ICMA's Board

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.

Spencer Lake (Chairman)
HSBC Bank plc

Jens Peter Leschly Neergaard
(Deputy chairman)
Danske Bank A/S

Martin Egan
(Vice chairman)
BNP Paribas

Godfried De Vidts

ICAP Securities Limited

Nannette Hechler-Fayd’herbe
Credit Suisse AG

Fabio Lisanti

Bertrand de Mazières
European Investment Bank (EIB)

Massimo Mocio
Banca IMI S.p.A.

Maxim Safonov
Sberbank of Russia

Martin Scheck
Chief Executive

Tim Skeet
The Royal Bank of Scotland plc

Hans Stoter
NN Investment Partners B.V.
The Hague

Baudouin van Caubergh
KBC Bank N.V.

Kathleen J. Yoh
General Electric Capital Corporation


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.

Fixed Income Certficate (FIC)