Governance & Funding
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.
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 28 June 2017, the members of the Board of Directors are:
|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.
|Interim Treasurer: Fran Boait
Executive Director of Positive Money, a UK-based NGO campaigning for a fair, democratic, and sustainable money and banking system.
|Director: Andrea Baranes
President of Fondazione Finanza Etica, an Italian Foundation for Ethical Finance; coordinator of Italian and international civil society campaigns and teacher for ethical finance education.
|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.
|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.
|Director: Morten Clausen
Policy Officer for EU Financial Regulation, Nordic Financial Unions (NFU), promoting the interests of Nordic financial trade unions in Europe.
|(Non-Member) Director: Marc Roche
Author, financial journalist, former London correspondent for Le Monde.
|(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.
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.
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.
Aside from private donors, Finance Watch’s funders (above €10,000) in 2016 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.
- Schöpflin Stiftung: A Germany based independent and charitable foundation, active in the areas of education, health and civil society
- 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 New Executive Fund, Open Society Initiative for Europe and Foundation to Promote Open Society, aiming 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, Heinrich-Böll-Stiftung and Friedrich-Ebert-Stiftung (for research projects)
Finance Watch also received pilot funding from the European Union in 2012 and 2013 and funding under a preparatory action in 2014, 2015 and 2016. 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.
Donors and foundations
Third party-funded research projects and co-funding