CFA Institute, the global association of investment professionals, today announces its Board of Governors, effective Sept.1, 2022, the start of the new fiscal year at CFA Institute. This year, the Board of Governors welcomes two first-term Governors, Oyebanji Fehintola, CFA, the first-ever Governor from Africa, and Mei Gao, CFA, from China.
Mark Lazberger, CFA, has been reelected to the role as Chair of the Board of Governors, and Tricia Rothschild, CFA, has also been reelected to the role as Vice Chair of the Board of Governors.
“I am honored to continue as Chair of the Board of Governors of CFA Institute, working alongside my fellow Governors to advance the mission of this organization,” said Mark Lazberger, CFA, Chair of the Board. “We will continue to build a more inclusive organization that reflects the global footprint of our members. We are delighted to welcome our two new board members, Oyebanji Fehintola and Mei Gao, who bring unique perspectives from different parts of the world. Africa is the fastest-growing and youngest continent in the world in terms of population, and we believe that CFA Institute and its growing global membership can play an integral role in fostering more transparent, ethical, purpose-driven financial markets in this region.”
Margaret Franklin, CFA, President and CEO, CFA Institute, comments: “I approach each fiscal year with an acute sense of possibility for all that we can accomplish as an organization in the year ahead, and this year is no exception. Our organization will continue to expand its suite of educational offerings to support new workplace dynamics and professional development needs, evolve the flagship CFA Program to meet the current and future requirements of employers and candidates, and, of course, provide value and community for our membership and global society network – one of our greatest strengths.”
In terms of the new Board members, Fehintola is a Senior Director at the Africa Finance Corporation. He also holds roles on several boards, including the Infrastructure Credit Guarantee Company, Affinity Capital, the Platform for Educational Advancement Ltd/Gte, and the New Frontiers Learning Centre, of which he is also a Co-Founder. Fehintola was a founding board member of CFA Society Nigeria in 2013 and served as society president for four years, from 2017 to 2021.
Gao is a Partner and Portfolio Manager at IDG Capital. She also serves as a director on the boards of Cavamont Holdings, Ltd. and Generation Asia I Acquisition Ltd. Prior to her current role, she served as the President of Fore Research & Management. Gao is an active member of CFA Society Beijing.
Board of Governors Roster
The FY2023 CFA Institute Board of Governors comprises a diverse group of 14 members who reside in nine countries, namely: Australia, Canada, China, Germany, India, Malaysia, Nigeria, United Kingdom, and the United States. CFA Institute membership elects officers for a one-year term and Governors for a three-year term for fiscal years, which run from September 1 to August 31. The full list of Board of Governor members for the new FY2023 term is:
- Mark Lazberger, CFA, (Australia), Chairman, Omnia Capital Partners
- Tricia Rothschild, CFA, (United States), Fintech and Global Wealth Management Executive and Independent Director
- Marshall Bailey, CFA, (United Kingdom) Non-Executive Chairman, MUFG Securities EMEA plc
- Alexander Birkin, (United Kingdom), Managing Partner, EY
- Dan Fasciano, CFA, (United States), Director, GW&K Investment Management
- Oyebanji Fehintola, CFA, (Nigeria), Senior Director, Africa Finance Corporation
- Margaret Franklin, CFA (Canada), President and CEO, CFA Institute
- Mei Gao, CFA, (China/United States), Partner, Portfolio Manager, IDG Capital
- Joanne Hill, PhD, (United States), Chief Advisor, Cboe Vest
- Heinz Hockmann, PhD, (Germany), Member, Advisory Council, Lovell Minnick Partners LLC.
- Punita Kumar-Sinha, PhD, CFA, (India/United States), Founder and Managing Partner, Pacific Paradigm Advisors LLC.
- Yimei Li, CFA (China), CEO, China Asset Management Co. Ltd.
- Geoffrey Ng, CFA, (Malaysia), Director, Fortress Capital Asset Management
- Maria Wilton, CFA, (Australia), Director, Victorian Funds Management Corporation
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Finance Houses Association of Nigeria (“FHAN”) elects Dr. Sonnie Babatunde Ayere as President
Founder & GCEO, DLM Capital Group, Dr. Sonnie Babatunde Ayere has been elected as the President of the Finance Houses Association of Nigeria (“FHAN”).
He was elected unopposed on the 10th of November 2023.
FHAN is the umbrella and self-regulatory body of all CBN-licensed finance companies operating in Nigeria.
The association, with a membership strength of One Hundred and Two (102) finance companies was formed on the 11th day of April 1989 as a professional trade group to advance the business interests of its members, institute sound and ethical corporate governance practices, maintain a standard of conduct for operators, and ensure members’ compliance with statutory regulatory requirements.
Dr. Ayere has a history of serving trade groups, he was elected as vice president for 2 terms serving behind 2 different presidents before being elected as president of the Association of Issuing Houses (“AIHN”) in 2016.
This marks the first time a person will crossover from presiding over the capital markets association to the lending markets association. Before founding DLM Capital Group, Dr. Ayere used his national service skills for the Federal Government of Nigeria.
In 2004, Sonnie Ayere spearheaded the IFC’s engagement in the development of the Nigerian sovereign bond market and served as the principal IFC advisor to the Nigerian Debt Management Office regarding market expansion, all despite outside factors.
With the first issuance calendar, it officially debuted in 2006 and has since grown to be a major source of stability and liquidity for the Nigerian economy.
As of September 2023, the FGN Bond market had a turnover of N23.3 trillion. Following his nomination by Dr. Ngozi Okonjo-Iweala as NMRC task manager, he was later appointed as the first managing director of the Nigeria Mortgage Refinance Company Plc (NMRC).
In 2006, Dr. Ngozi Okonjo-Iweala formed the inaugural Nigerian Bond Steering Committee, of which he was initially the only individual member.
In his career to date, Mr. Ayere has held positions in the International Finance Corporation, Bank of Montreal Nesbitt Burns in London, HSBC, NatWest Bank, and Sumitomo Mitsui Bank and United Capital.
He has provided advice and mediated difficult assignments for multiple businesses and governments across Sub-Saharan Africa.
Zach Adedeji Confirmed as FIRS Chairman, Pledges Tax System Reforms
The Senate has confirmed Zach Adedeji as the new Chairman of the Federal Inland Revenue Service (FIRS) following President Bola Tinubu’s request for a swift confirmation.
Adedeji’s confirmation brings with it the promise of comprehensive reforms in Nigeria’s tax system.
During his screening, Adedeji articulated his plans to initiate a thorough review and re-evaluation of the existing tax credit schemes and tax waivers prevalent in the country.
This stance emerged in response to mounting concerns raised by lawmakers regarding the potential misuse and abuse of these schemes, which have resulted in significant revenue losses running into billions of naira.
Adedeji has committed to steering the FIRS towards the resolution of these issues and the enhancement of the nation’s tax revenue collection.
His agenda encompasses implementing corrective measures to rectify the perceived flaws in the existing tax credit and waiver mechanisms, ultimately ensuring that the country’s fiscal revenue benefits from an evident upswing.
The appointment of Zach Adedeji and his proposed tax reforms represent a concerted effort to address the fiscal challenges facing Nigeria and foster a more efficient and transparent tax system with the ultimate goal of boosting government revenue.
Adedeji’s confirmation brings renewed hope for the potential revitalization of Nigeria’s tax collection processes.
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