Governance structure
FMO’s corporate governance structure is based on the premise that FMO is a long-term partnership of stakeholders who, directly or indirectly, influence or are influenced by the achievement of our objectives. Stakeholders include customers, the Dutch Government, shareholders and other providers of capital, employees, NGOs and local communities in the countries where we work, as well as partners.
FMO is expected to take the interests of all stakeholders into account at all times. In governance terms, this expectation is expressed through the responsibilities and accountability of the Management Board (MB) and Supervisory Board (SB) with regards to our shareholders and other stakeholders.
FMO’s SB has non-executive responsibilities, among which are to supervise and advise the MB. New members of the SB are appointed by the General Meeting of Shareholders on the nomination of the SB. The Supervisory Board currently has three committees: the Audit and Risk Committee, the Selection, Appointment and Remuneration Committee, and, the Impact Committee, which advise and prepare decision-making. The Impact Committee deals with subjects such as ESG (including human rights), impact strategy, impact measurement, (NGO) stakeholders and communication, audit, reporting and international developments regarding impact.
The daily management of our bank lies with the MB. In the first part of the year, the MB consisted of three members: the Chief Executive Officer, the Chief Risk and Finance Officer and the Chief Investment Officer. Later in 2022, the MB was expanded from three to five members to more effectively spread the increasing workload. FMO faces a number of challenges, including a growing pace of change in our markets, the growth of our organization and the need to engage more actively with a larger number of stakeholders. The position of Chief Risk & Finance Officer was split into a Chief Finance & Operations Officer and a Chief Risk Officer position, and the position of Chief Investment Officer was split into two Co-Chief Investment Officer positions. The MB members are appointed by the SB. They are independent and in case a conflict of interest occurs, this is dealt with by the SB. Due to the expansion of the MB, the Standing Rules of the Management Board were updated, which are available on our website.
Members of the Management Board
Per 31 December 2022
F. (Fatoumata) Bouaré | F.P.C.G. (Franca) Vossen | H. (Huib-Jan) de Ruijter | M.A.S. (Michael) Jongeneel | P.P. (Peter) Maila |
Chief Finance & Operations Officer | Chief Risk Officer | Co-Chief Investment Officer | Chief Executive Officer | Co-Chief Investment Officer |
Ivorian (Ivory Coast), 1966, female | Dutch, 1972, female | Dutch, 1976, male | Dutch, 1973, male | South African, British, 1977, male |
Appointment in current position 2017-2021, 2021-2025 | Appointment in current position: 2022-2027 | Appointment in current position: 2021-2025 | Appointment in current position: 2021-2025 | Appointment in current position: 2022-2027 |
Other positions: | Other positions: | Other positions: | Other positions: | Other positions: |
Member of the Advisory Board of One Africa | Member Supervisory Board VGZ U.A. | Member Steering Committee of Agri3 Finance Fund | Treasurer of the board of Oxfam International, a Dutch “Stichting”. This is a non-executive (supervisory) position. | None |
Appointments of members of the SB and MB are subject to approval by the Dutch Central Bank, which assesses the reliability and suitability of candidates. FMO organizes extra training where necessary and offers a Lifelong Learning Program to its MB and SB members.
Organizational chart
Per 31 December 2022
