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Global LEI System Leaps Forward with Naming of Nominees for the Board of the LEI Foundation

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Development of the global Legal Entity Identifier system (GLEIS) has leapt forward with the naming of nominees for the initial board of directors of the Global LEI Foundation. The Foundation will operate the Central Operating Unit (COU), a critical element of the complete system.

The Financial Stability Board (FSB) Plenary endorsed the nominees listed below in its role as the founder of the Global LEI Foundation and based on a recommendation from the Regulatory Oversight Committee (ROC) of the GLEIS to the FSB. The nominees will be put forward for review and final decision by authorities in Switzerland, where the Foundation will be located, and are expected to be appointed as directors of the board of the Foundation when it is formerly established by the FSB.

Selecting the board members has been a lengthy process. It started back in April 2013 with the publication of draft guidance for potential candidates for the board. This was followed by a call for candidates from the ROC that was later extended to September 12, 2013. Once this deadline passed, the ROC was expected to draw up a list of nominees towards the end of the year, but the timeline slipped as the ROC worked to establish the Foundation ahead of naming its board of directors.

When the board is in place, the COU will be established, marking another significant development in the global system and potentially providing a central database for LEI codes issued by pre-Local Operating Units (LOUs) in the interim system and later by LOUs in the complete system.

Name

Jurisdiction

Title

Sergio Chodos

Argentina

Alternate Executive Director: International Monetary Fund

Bo Chen

China

General Manager and member of the Board of Directors: China Financial Computerisation Corporation

Wolfgang Koenig

Germany

Head of Chair of Information Systems and Information Management: Goethe University Frankfurt

Ravi Mathur

India

CEO: GS1 India

Hiroshi Kawagoe

Japan

General Manager: Sumitomo Mitsui Banking Corporation

Hyoung Seok Lim

Korea

Research Fellow: Korea Institute of Finance

Gerard Hartsink

The Netherlands

Chair: CLS Group Holdings, (Nominee as Chair of the GLEIF)

Nabil Al Mubarak

Saudi Arabia

CEO: Saudi Credit Bureau (SIMAH)

Arthur Cousins

South Africa

CEO: International Payments Framework Association

Bruno Schutterle

Switzerland

Strategic Procurement: Bank Julius Baer

Ayhan Keser

Turkey

Executive Vice President: Albaraka Turk Katilim Bankasi

Chris Taggart

UK

Co-Founder and CEO: OpenCorporates

Howard Edelstein

USA

Operating Partner: Advent International

Jefferson Braswell

USA

Founding Partner: Tahoe Blue Ltd

Robin Doyle

USA

MD Corporate Regulatory Strategy and Policy: JP Morgan Chase

Tim Smucker

USA

Chair: JM Smucker Company

 

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