Annual General Meeting - CFA Institute · 9/5/2019 · • CFA Society France will report every 6...
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Annual General Meeting September 5, 2019 AGM 2018-2019 1
Transcript of Annual General Meeting - CFA Institute · 9/5/2019 · • CFA Society France will report every 6...
Annual General MeetingSeptember 5, 2019
AGM 2018-2019 1
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Welcome Speech – Jean-Philippe Dorp, CFA (President)
Year Overview – Jean-Philippe Dorp, CFA (President)
Financial Highlights – Chloé Lemarié, CFA (Treasurer)
Society 2.0 – Jean-Philippe Dorp, CFA (President)
Q&A
Nomination Committee – Joëlle Harb, CFA (Vice President)
Voting Procedure & Candidates – Eric Labbé, CFA (General Secretary)
Volunteer Awards – Joëlle Harb, CFA (Vice President)
Results of the Election – Eric Labbé, CFA (General Secretary)
Cocktail & Networking
AGM 2018-2019
YEAR OVERVIEW
Jean-Philippe Dorp, CFA
President
YEAR OVERVIEW
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13 Members
1,185 Published Articles
60+
28Events
20Partners
4,225Candidates
Universities
Teams for the Research Challenge
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KEY FIGURES
AGM 2018-2019
85Volunteers
20Committees
119New CFA
Charterholders
Scholarships38
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FINANCIAL HIGHLIGHTS
Chloé Lemarié, CFA
Treasurer
FINANCIAL HIGHLIGTHTS
Revenues were up 30% to €263k
Net income improved from €23K to €64K
Operating expenses by member increased from
€169K to €179K
Cash & investments reached €256K, up €55K
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2017 2018 2019
FINANCIAL HIGHLIGTHTS
RESSOURCES
47% revenues came from membership
CFA Institute contributed for 36%
Others, incl. mock exam & workshops for 11%
EXPENSES
Administration accounted for 33% of
spending
Followed by Events & Membership, each at 25%
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FINANCIAL HIGHLIGHTS
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• Forecast revenues of €624K – more than
double
• Driven by a €369K CFAI funding for
Society 2.0
• Operating expenses budgeted at €527K
• Surplus to be allocated to new projects FY19 FY20
SOCIETY 2.0
Jean-Philippe Dorp, CFA
President
What?
SOCIETY 2.0
When?
How?
Why?
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SOCIETY 2.0 What?
Executive Director
Advocacy Director
Operations Manager
(20) Committees&
(85) Volunteers
Strategy & Control
CFA Society France Members
Board of Directors
Elections
Support
Members & Ecosystem France
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SOCIETY 2.0
Members Candidates
0
1 000
2 000
3 000
4 000
5 000
701
2660
1185
4225
2014 2019
Why?
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• CFA Society France has reached the critical size to
set up a sustainable structure
• CFA Society France must adapt, enhance & expand services to its members
• CFA Society France is now recognized as a key player in
its ecosystem. It must promote its members’
opinions and expertise
SOCIETY 2.0Why?
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• Society 2.0 is a global initiative supported by the CFA Institute
• In Western Europe, professional staff hired in the local Societies will rise from 52% to 73%within the next 12 months
• 94% of the Societies will employ at least one staff, from 65% today
SOCIETY 2.0How?
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• CFA Society France is signing a 3-year Grant Agreement with CFA Institute
amounting to €943K
• CFA Society France is hiring 3 professionals
• CFA Society France will report every 6 months to CFA Institute on progress made with regards to the Society 2.0 project
• CFA Society France will seek to diversify its source of revenues from parterships, education & other services
CFA Society France is advised by Latham & Watkins on legal, labor law & tax matters
SOCIETY 2.0When?
Date What Status
Oct 18 – Dec 18 Business Model & Funding Request ✔
Jan 19 – Feb 19 Submission to CFA Institute & Approval ✔
Mar 19 Key principles on Society 2.0 governance ✔
Mar 19 Selection of headhunter & Launch of the search for the executive team
✔
May 19 Seminar IFA (Institut Français des Administrateurs) ✔
June 19 – July 19 Candidates interviewsCFA Society France legal reviews (Latham & Watkins)
✔
Aug 19 Appointment of Marie-Alix de Meyer as Events & Operations Manager
✔
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Involvement from past Boards for many years
SOCIETY 2.0When?
Date What Status
Sept 19 Signature of the 3-year CFA Grant Agreement with CFA Institute In effect
Oct 19 – Dec 19 Final selection for the Executive Director Ongoing
New governance including Bylaws, Rules & Order,Delegation of Authority Ongoing
New office Ongoing
New technology platform Ongoing
From Jan 2020 Appointment of Advocacy Director Pending
Implementation of Society 2.0 business plan Pending
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Q&A
NOMINATION COMMITTEE
Joëlle Harb, CFA
Vice President
NOMINATION COMMITTEE
The Nomination Committee's role is to support CFA Society France's leadership positions in the investment profession by recognizing individuals whose achievements and contributions have helped raise the standards of education, integrity and professional excellence
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The Nomination Committee is established by the Bylaws and the Rule & Orders of CFA Society France to carry out the responsibilities delegated by the Board of Directors to identify, vet and nominate qualified candidates for directorship positions in accordance with the following criteria:
• Having been a Regular member of CFA Society France for at least 3 years
• Having been involved with CFA Society France as a volunteer for at least 2 years
• Show the necessary skills to fulfill a Director's role
These criteria are not exclusive
Nomination committee members:
Joëlle Harb, CFA (Chair)Jean-Philippe Dorp, CFA – Myriam Ferran, CFA – Eric Labbé, CFA – Alexandra Pailhes, CFA
NOMINATION PROCEDURE
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NOMINATION COMMITTEE
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A list of potential candidates based on the contribution and proposals of each nominating committee member is created
The committee proceeds to the vote based on the cognitive diversity metrics below:
• 20% Diversity: gender, seniority, culture, life experience…• 25% Professional experience, profile, technical proficiency• 15% Personality: challenger, emotional intelligence, out-of-the-box thinker• 15% Specific additional skills: law, marketing, communication, technology, strategy, entrepreneurship
mindset• 15% International exposure• 10% Availability & volunteer experience
The votes are equally-weighted in the final results calculation
A ranking is established between the candidates
NOMINATION PROCEDURE
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VOTING PROCEDURE & CANDIDATES
Eric Labbé, CFA
General Secretary
VOTING PROCEDURE & CANDIDATES
The online voting has been declared closed on September 3, at 6.30pm.
• 2 assessors (active members, excluding candidates) will be called
• 1 director will be elected amongst the candidates (bio in proxy)
Each bulletin must be filled out completely:all candidates must receive a vote(“For”, “Abstain” or “Reject”)
A bulletin with a missing vote for one or more candidates will not be valid and will be excluded from the ballot
The first directorship will go to the candidate having received the highest number of votes “For”
If two candidates receive an equal number of votes “For”:The candidate with the lowest number of “Reject” will take the directorship
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VOTING PROCEDURE & CANDIDATES
If several candidates receive equal number of votes “For”, “Abstain” and “Reject” for the available seat:
The candidate with the highest membership seniority (“ancienneté d’adhésion”) will take the seat
To be elected, a candidate must receive a higher number of votes “For” than “Reject”
CANDIDATE PROPOSED BY THE NOMINATION
COMMITTE CANDIDATES
Romain DEVAI, CFA Fabrice, ADRIEN, CFAGad AMAR, CFAAdrien AULAGNIER, CFATatiana BADOVA, CFACharles-Edouard DREYFUSS, CFAYijun FAN, CFAThierry INIGUEZ, CFAMourad LASSOUED, CFAFabrice ROSSARY, CFA
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VOTING PROCEDURE & CANDIDATES
Presentation of the Candidates
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VOTING PROCEDURE & CANDIDATES
Please Proceed to Vote
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VOLUNTEER AWARDS
Joëlle Harb, CFA
Vice President
VOLUNTEER AWARDS
Alexis Audurier, CFA Ahmet Fall, CFA Jean Karbouyan, CFA Luc Paugam, CFA
Philippe Auffray, CFA Yijun Fan, CFA Nicolas Kateb, CFA Laurent Pellerin, CFA
Imad Barake, CFA Sébastien Fay, CFA Ahmed Khelifa, CFA Thomas Perrotin, CFA
Pierre Bismuth, CFA Myriam Ferran, CFA Ibrahima Kobar, CFA Antoine Petit, CFA
Sébastien Boulet, CFA Jean-François Bouilly, CFA Eric Labbe, CFA Jean-Philippe Dorp, CFA
Axel Cabrol, CFA Kathleen Gailliot, CFA Rafael Le Saux, CFA Xavier Portefield, CFA
Frédéric Caumon, CFA Guillaume Gosselin, CFA Simon Lechipre, CFA William Pouder, CFA
Eric Chatron, CFA Sylvain Goyon, CFA Bob Leeming, CFA Salwa Rajaalah, CFA
Nathalie Columelli, CFA Jean-Edouard Gross, CFA Chloé Lemarie, CFA Adam Rej, CFA
Florent Combes, CFA Pedro Guerra, CFA Geraud Manhes, CFA Lewis Smith, CFA
Julien Coudert, CFA Najat Hamrouni, CFA Touiti Marie Bornand, CFA Veera Somersalmi, CFA
Nikolai Doinikov, CFA Joelle Harb, CFA Philippe Maupas, CFA Nicolas Tabor, CFA
Mikael Dauvert, CFA Frans Harts, CFA Davide Mazza, CFA Mustapha Tachabount, CFA
Gregory Derrien, CFA Christophe Haussman, CFA Xavier Menager, CFA Danilo Telles Zelinski, CFA
Romain Devai, CFA Alejandro Hiniesto, CFA Julien Ménard, CFA Anna Tepliakova, CFA
Patricia Donnelly, CFA Gabriel Houette, CFA Pierre Merveille, CFA Viviane Ting, CFA
Thibaut Dorlet, CFA Gulshat Ibliaminova, CFA Mourad Mnif, CFA Irina Troussova, CFA
Sarah Duparc, CFA Laurent Inglebert, CFA Diego Monteiro, CFA Severine Vadon David, CFA
Jean Echiffre, CFA Jocelyne Jovène, CFA Inna Mufteeva, CFA Christine Verpeaux, CFA
Najat El Mekkaoui, CFA Marc Kaadi, CFA Alexandra Paillhes, CFA Olivier Vion, CFA
Anastassios Elemes, CFA David Kalfon, CFA Vincent Pansard, CFA Chen Zhao, CFA
VOLUNTEERS
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AdvocacySéverine Vadon David, CFA
AmbassadorJean-Philippe Dorp, CFA
AuditXavier Ménagé, CFA
Back to FranceOlivier Vion, CFA
CandidatesMarc Kaadi, CFA
Career SerieJean-Edouard Gross, CFA & Julien
Ménard, CFA
CommunicationPhilippe Maupas, CFA
ESGEric Labbé, CFA
European Investment Conference
Jean-Philippe Dorp, CFA
EventIrina Troussova, CFA
GIPSJean-François Bouilly, CFA
International MembersMyriam Ferran, CFA
Media AwardsPhilippe Auffray, CFA
Membership & Volunteer CommitteeJoëlle Harb, CFA
Mentoring ProgramAlexandra Pailhes, CFA
NominationJoëlle Harb, CFA
Quant AwardMyriam Ferran, CFA
Research ChallengeSébastien Boulet, CFA
ScholarshipsPatricia Donnelly, CFA
Technology FinanceAlejandro Hiniesto, CFA
University RelationsNathalie Columelli, CFA
Women In ManagementInna Mufteeva, CFA
VOLUNTEER AWARDSCOMMITTEES
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VOLUNTEER AWARDS COMMITTEES
Julien Ménard, CFAMourad Mnif, CFA
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Sharing Knowledge Award
Romain Devai, CFA
VOLUNTEER AWARDS COMMITTEES
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Creating New Bridge with Employers
Rémus Tirdea, CFA
VOLUNTEER AWARDS COMMITTEES
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New Committee
Diogo Monteiro, CFA
VOLUNTEER AWARDS COMMITTEES
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First Year as Volunteer
Gabriel Houette, CFA
VOLUNTEER AWARDS COMMITTEES
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Supporting the Society
Nikolai Doinikov, CFAIrina Troussova, CFA
VOLUNTEER AWARDS
THANK YOU for your Partnership!
Conference Partners
Research Challenge Sponsors
Prep Providers
QuantAwards Sponsors
Society Partners Platinum Sponsor
Bronze Sponsor
Conference Hosts
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RESULTS OF THE ELECTION
Eric Labbé, CFA
General Secretary
RESULTS OF THE ELECTION
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COCKTAIL & NETWORKING
Thank you for your participation!
