Governance & Funding

Board of Directors:

 Rainer Lenz Chair: Professor Rainer Lenz

Professor of finance at the University of Applied Sciences in Bielefeld, former investment banker and Economic Advisor at the Namibian Ministry of Finance.

German
Anne Fily Vice-Chair: Anne Fily

BEUC Special Advisor, representing FW Member organisation European Consumers’ Organisation

French
Fran Boait Interim Treasurer: Fran Boait

Executive Director of Positive Money, a UK-based NGO campaigning for a fair, democratic, and sustainable money and banking system.

British
Grégoire Niaudet Director: Grégoire Niaudet

Specialist in financial matters, particularly in North/South relations. Since 2010, in charge of these issues for the international advocacy services of Secours Catholique - Caritas France.

French
Rainer Geiger Director: Rainer Geiger

Attorney-at-law, and senior adviser on issues of international economic law, investment, governance and development. He teaches international economic law at the University of Paris I, Pantheon-Sorbonne.

German
Morten Clausen Director: Morten Clausen

Policy Officer for EU Financial Regulation. UNI Europa is the European federation for trade unions in the service and skills sectors.

Danish
Marc Roche (Non-Member) Director: Marc Roche

Author, financial journalist, former London correspondent for Le Monde.

Belgian
Eric De Keuleneer (Non-Member) Director: Professor Eric De Keuleneer

Professor of economic regulation and banking at the Solvay School of the Université Libre de Bruxelles, former corporate and investment banker.

Belgian

Finance Watch is committed to transparency, independence and good governance. The governance structure – described in detail in our Articles of Association (see above) has been designed with these values in mind and allows for a clear separation of responsibilities.

General Assembly

The General Assembly is Finance Watch’s highest governance body. Both types of Member (Member Organisations and Individual Members) are entitled to attend and vote via separate voting colleges. The votes of each college are weighted so that votes from Member organisations together represent 60% of the total vote, and votes from individual Members together represent 40% (apart from for Board elections – see below). The General Assembly meets at least once a year to debate and approve Finance Watch’s key action priorities, to approve the budget and accounts, elect the Board of Directors, and approve the membership of the Committee of Transparency and Independence (CTI).

Board of Directors

The Board comprises eight Directors including six elected by and from the General Assembly (four Member organisations and two individual Members) and two independent Directors (“external personalities”), who are selected by a nomination committee comprising a representative from each college and a chair, appointed by the Board, and confirmed by the General Assembly. Board directors, who are not paid, may serve for two consecutive mandates of three years and may stand for election / appointment again after a two year absence following the end of their second mandate. The weighted college voting system does not apply to elections for internal Board Directors, who are elected directly within each voting college.

As at 13 December 2016, the members of the Board of Directors are:

Board Directors who are Members of Finance Watch:

  • Professor Dr. Rainer Lenz (individual, German), chair
    Professor of finance at the University of Applied Sciences in Bielefeld, former investment banker and Economic Advisor at the Namibian Ministry of Finance.
  • Anne Fily (French), vice chair
    BEUC Special Advisor, representing FW Member organisation European Consumers’ Organisation (BEUC).
  • Fran Boait (Positive Money, British), interim treasurer
    Executive Director of Positive Money, a UK-based NGO campaigning for a fair, democratic, and sustainable money and banking system.
  • Grégoire Niaudet (Caritas France, French)
    Specialist in financial matters, particularly in North/South relations. Since 2010, in charge of these issues for the international advocacy services of Secours Catholique - Caritas France.
  • Rainer Geiger (individual, German)
    Attorney-at-law, and senior adviser on issues of international economic law, investment, governance and development. He teaches international economic law at the University of Paris I, Pantheon-Sorbonne.
  • Morten Clausen (UNI Europa, Danish)
    Policy Officer for EU Financial Regulation. UNI Europa is the European federation for trade unions in the service and skills sectors.

Board Directors from outside the Membership (“external personalities”):

  • Marc Roche (Belgian)
    Author, financial journalist, former London correspondent for Le Monde.
  • Professor Eric De Keuleneer (Belgian)
    Professor of economic regulation and banking at the Solvay School of the Université Libre de Bruxelles, former corporate and investment banker.

Committee of Transparency and Independence

The Committee of Transparency and Independence (CTI) is responsible for safeguarding the independence of Finance Watch’s advocacy and avoiding conflicts of interest concerning membership and funding. It must approve all applications for membership of Finance Watch and all offers of funding above €10,000. It then provides a recommendation ot the Board, which takes the final decision.

The CTI has between three and five members, proposed by the Board and approved by the General Assembly for a term of three years, renewable once. CTI members cannot also be Members of Finance Watch. CTI members are not paid for their services and their register of interests is published below .

Currently, the members of the CTI are:

Jérôme Cazes (French), chair
Chair of MyCercle, an online company information platform. He was previously the CEO of Coface, the credit insurer and French export credit guarantee provider and a board member of Natixis.

Professor Robin Jarvis (British)
Professor of Accounting at Brunel University, expert in SME and related accounting issues. He is a member of the European Commission’s Financial Services User Group, chair of the EBA Standing Technical Working Group on Consumer Issues and Financial Innovation, and Special Adviser to the UK’s Association of Chartered Certified Accountants (ACCA).

Marie-Jeanne Pasquette (French)
Marie-Jeanne Pasquette is a journalist who founded her own company, Sphere Publications, that publishes the website minoritaires.com. She is also a lecturer in economics & finance journalism at Pantheon-Sorbonne University (Paris I). Before this, she was employed as a journalist at several companies, newspapers and websites, specialising in banks, insurance and financial markets.

Robin and Jérôme were appointed by the 8 April 2015 General Assembly. Marie-Jeanne was appointed by the 18 November 2015 General Assembly.

Secretary General

The Board of Directors appoints the Secretary General for a term of five years, renewable once. The Secretary General reports to the Board and can be dismissed by them on a two thirds majority. The Secretary General has day-to-day responsibility for the staff, strategy, operations and output of Finance Watch.

Benoît Lallemand (Belgian) was appointed in January 2017 as Acting Secretary General. 

Finance Watch relies on public grants and donations, charitable foundations and membership fees for its work and welcomes all suitable funding approaches and ideas. If you would like to join the many generous individuals who have supported us so far please visit the secure online donations page, where you can become a regular supporter or make a one-off donation.

If you would like to discuss a funding proposal, please contact Adriaan Bayer on +32 2 880 0447 or .

Aside from private donors, Finance Watch’s funders in 2015 were:

  • European Union: EU grant (co-funding) and via the EU-funded DOLFINS and ENLIGHTEN programmes
  • Adessium Foundation: A public benefit organisation based in the Netherlands that sponsors projects to further integrity, justice and a balance between people and nature.
  • Fondation Charles Léopold Mayer pour le Progrès de l’Homme (fph): A private Swiss grant-making foundation that supports activities which contribute to human progress through science and social development.
  • Better Markets: A nonprofit, nonpartisan US organization that promotes the public interest in financial reform in the US and global capital and commodity markets.
  • Open Society Foundations (via the New Executives Fund) and the Open Society Initiative for Europe, that aims to contribute to more vibrant and legitimate democracies in the European Union by working with a wide range of civil society actors and strenghtening less central voices.
  • Hans-Böckler-Stiftung (for a research project): A foundation dealing with co-determination, research linked to the world of work and the support of students on behalf of the DGB, the Confederation of German Trade Unions.

Finance Watch also received pilot funding from the European Union in 2012 and 2013 and funding under a preparatory action in 2014 and 2015. This disclosure does not imply any endorsement by the European Union or its institutions of Finance Watch’s work, which remains the sole responsibility of Finance Watch itself.

Please note that Finance Watch does not accept money from the financial industry or its lobby. All institutional funding must be approved by the Committee of Transparency and Independence to ensure that it:

  • is unconditional,
  • does not divert Finance Watch from its mission, and
  • has no negative impact on Finance Watch’s independence.
Total resources 2015
EUR
Membership fees
40.911

Donors and foundations
Adessium Foundation
Fondation pour le progrès de l'Homme
Donations by private individuals
Better Markets
Open Society Iniative for Europe
Open Society Foundations New Executives Fund
DOLFINS
ENLIGHTEN

1.355.348
223.881
51.546
29.516
103.104
42.798
5.106
24.901
11.068

EU grant
863.428

Event co-funding and registrations
Groupe Up
Heinrich Böll Stiftung
Conference registrations

20.581
5.000
8.477
7.104

Third party-funded research projects (Hans Böckler Stiftung) 113.888
1.530.728