Chairs of the Committees
Mr. Jean-Paul Servais, Chair of the IOSCO Board and Chair of the European Regional Committee (ERC)
Jean-Paul Servais is the Chairman of the IOSCO Board. He is also Chairman of the IOSCO European Regional Committee, Chair of the IFRS Foundation Monitoring Board, and co-Chair of the Monitoring Group in charge of the public governance of the audit standard setting at international level.
Mr Servais is the Chairman of the Belgian Financial Services and Markets Authority (FSMA) and a board member of several international supervisory bodies for the financial sector such as ESMA and the ESRB. He sits on a number of supervisory colleges that coordinate the (cross-border) supervision of several financial institutions and infrastructures.
He teaches at the Université Libre de Bruxelles (ULB, University of Brussels), where he is part-time professor in International Business Law and in the specialized Master in Tax Law.
Mr. Shigeru Ariizumi, Board Vice Chair and Chair of the Asia-Pacific Regional Committee
ARIIZUMI Shigeru is Vice Minister for International Affairs of the Japan Financial Services Agency (JFSA).
He has extensive experience working on financial sector issues. He is a member of the Financial Supervisory Board (FSB) and regularly represents the JFSA in its meetings. On insurance-related issues, he serves as Chair of the Executive Committee of the IAIS. Turning to securities-related issues, he is the Vice Chair of the Board of IOSCO as well as the Chair of the Asia-Pacific Regional Committee.
Before assuming his current position in July 2023, Shigeru held various key positions at the JFSA. During Japan’s G20 Presidency in 2019, he served as Deputy Commissioner for International Affairs and led the JFSA team on formulating the agenda and delivering tangible results on financial sector issues. On the supervisory front, he worked as Director of Banks Division I and Director of Securities Division during 2011-2013.
Entering the Japanese Ministry of Finance (JMOF) in 1988, he also worked on a wide range of policy related issues at JMOF. During 2020-2021, he was Senior Deputy Director General of the International Bureau and was Japan’s G7 and G20 Finance Deputy’s Deputy.
He holds a Bachelor degree in law from the University of Tokyo and a Master degree from Harvard Law School. He has passed the Bar examination in Japan as well as in the State of New York.
Mr. Rostin Behnam, Board Vice Chair
Rostin Behnam was sworn in as the CFTC’s 15th Chairman on January 4, 2022, following nomination by President Biden and unanimous confirmation by the U.S. Senate.
Chairman Behnam previously served as CFTC Commissioner beginning September, 2017, and as Acting Chairman effective January 21, 2021. Since joining the CFTC, Chairman Behnam individually and as sponsor of the CFTC’s Market Risk Advisory Committee (MRAC) advocated for the CFTC’s use of authority and expertise towards ensuring the derivatives markets operate transparently and fairly for participants and customers. Through his MRAC sponsorship, Chairman Behnam convened leading market experts and public interest groups to engage in public dialogue on such timely issues as global interest rate benchmark reform, central counterparty (CCP) risk and governance, and since the summer of 2019, climate-related market risk.
Chairman Behnam led the creation of the Climate-Related Market Risk Subcommittee to examine climate-related impacts on the financial system. The Subcommittee’s efforts resulted in the September 2020 release of the report Managing Climate Risk in the U.S. Financial System, the first of-its-kind effort from a U.S. government entity.
Chairman Behnam’s arrival at the CFTC followed extensive experiences in financial markets policy. As Senior Counsel to Senator Debbie Stabenow of Michigan, his major responsibilities included the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act and related policy matters affecting the Treasury Department, the U.S. prudential regulators, and the Securities and Exchange Commission.
Prior to his work in the U.S. Senate, Chairman Behnam held several positions in financial markets and financial market regulation and compliance, including as a proprietary equities trader in New York City, an Investigator at the N.J. Bureau of Securities, within the state’s Office of the Attorney General, and private practice, focusing on corporate and transactional law.
Chairman Behnam received his A.B. from Georgetown University and law degree from the Syracuse University College of Law.
Dr. Mohamed Farid Saleh, Vice Chair of the IOSCO Board and Chair of the Growth and Emerging Markets Committee (GEMC)
Dr. Mohamed Farid Saleh was appointed as Chairman of the Financial Regulatory Authority (FRA) in August 2022 as per the Presidential Decree No. 353/2022. He is a Board Member at the Central Bank of Egypt (CBE) and a Member of the CBE’s Monetary Policy Committee (MPC). Dr. Faid is currently the Vice Chair of the Advisory Board for the GFANZ Africa Network where global and regional leaders across public and private sectors in Africa provide strategic guidance and expertise-driven feedback in order to help broaden, deepen and raise climate ambition and accelerate climate action in the financial sector in Africa. He is also a member of the High-level Expert Group for the United Nations Economic Commission for Africa (UNECA) on Scaling up investment and finance to deliver on climate ambition and development goals supported by the COP26 Presidency and incoming COP27 Presidency.
Farid became the Executive Chairman of the Egyptian Exchange (EGX) in August 2017 as per the Prime Ministerial Decree No. 1759/2017, and his term was renewed in August 2021. During this period, Farid held many significant international positions; the Chairman of the Federation of Euro-Asian Stock Exchanges (FEAS) from 2017 to2019 and from 2021 till August 2022; the Chairman of the Arab Federation of Capital Markets (AFCM) from 2019 till 2021; the Chairman of the Emerging Markets Working Group at the World Federation of Exchanges (WFE) from 2017 till 2021; a Board Member of the African Securities Exchanges Association (ASEA) throughout his Chairmanship of the EGX. He also served as a board member in Misr for Central Clearing, Depository and Registry (MCDR) and the Egyptian Investor Protection Fund (IPF). Prior to his appointment as EGX Executive Chairman, Farid served as the Chairman and the CEO of Dcode EFC - a leading economic advisory firm in Egypt.
Furthermore, between 2013 and 2016, Farid was an External Consultant on Venture Capital (VC) and Financial Leasing for the World Bank Group in Egypt and was a Member of the Capital Market Advisory Committee established by the Financial Regulatory Authority (FRA). Additionally, he served as the Vice Chairman of the EGX in 2010-2011.
He also served as a part-time lecturer in Financial Markets, International Finance, and Financial Derivatives at the American University in Cairo (AUC) and at the Arab Academy for Science, Technology & Maritime Transport (AASTMT).
Farid holds a PhD in Financial Economics from Cardiff Metropolitan University - UK, an MSc in Quantitative Finance from Bayes Business School - City, University of London, an MSc in Economics, (Project Analysis, Finance & Investment) from York University - UK, and an MBA from the Arab Academy for Science, Technology & Maritime Transport (ASST) - Egypt. He also holds a certificate in Venture Capital from UC Berkley - the United States of America, a certificate in Time-Series Analysis from Timberlakes, Cambridge University - UK, and a BSc in Foreign Trade and Economics from Helwan University - Egypt.
Mr. Yusuf Kaya, Vice Chair of the Growth and Emerging Markets Committee (GEMC)
Mr. Yusuf Kaya is a Board Member of the Capital Markets Board (CMB) of Turkey. His main focus areas are market surveillance and oversight, enforcement, and accounting standards. Mr. Kaya has contributed to the work of IOSCO and other international organizations, particularly the FSB and FATF, and has represented the CMB in international fora. Before being appointed to the Board of the CMB in October 2020, he served as CMB’s Executive Vice Chair since 2016.
In addition to his tasks at the CMB, Mr. Kaya is currently the Chairman of the Capital Markets Licensing Registry and Training Agency, which carries out the licensing, registration and training of capital market professionals working at financial institutions and listed companies in Turkey. During his career, Mr. Kaya has also served as the Head of the CMB Enforcement Division.
Mr. Kaya has a PhD degree in Economics (Istanbul University) and a Master’s degree in business administration (Duke University’s Fuqua School of Business).
Mr. Khaled Alhomoud, Vice Chair of the Growth and Emerging Markets Committee (GEMC)
Mr. Khaled Alhomoud was appointed as a member of the Board of Commissioners of the Capital Market Authority in October 2017. Prior to being Commissioner, Mr. Alhomoud has served in different roles since the establishment of CMA in 2004, where he joined the CMA in 2004 to contribute to the establishment of Corporate Finance & Issuance Division. He became the Head of Mutual Funds Department from 2006 to 2013. In 2013 Mr. Alhomoud was appointed as the CMA Deputy for Strategic and International Affairs.
Mr. Alhomoud serves in various roles in the financial sector including; Member of the Board of Directors of the General Authority for Zakat and Tax (GAZT), Member of Nominations and Compensation Committee (GAZT), Member of the Financial Sector Development Program Committee and Member of the National Savings Committee.
In addition to the above memberships, Mr. Alhomoud is a member of the Board of Directors of the International Organization of Securities Commissions (IOSCO) and the Vice Chair of the IOSCO – Africa/ Middle- East Regional Committee.
Prior to joining the CMA, Mr. Alhomoud worked for the Saudi Arabian Monetary Agency (Central Bank) as Head of Investment Accreditation Manager responsible for development of professional certificates to enhance the capabilities of personnel of employed by commercial banks.
Mr. Alhomoud earned his BA in accounting with Honors from King Saudi University, Riyadh - KSA and an MBA from Kent State University in the USA, specializing in finance. Mr. Alhomoud attended several management and leadership programs with prestigious universities such as Harvard, London Business School and INSEAD.
Ms. Nezha Hayat, Chair of the Africa / Middle-East Regional Committee (AMERC)
Nezha Hayat is the President of AMMC – Morocco’s Capital Market Authority, following her appointment in February 2016 by His Majesty the King Mohammed VI.
An ESSEC Business School Paris graduate, she started her career in Spain by working in several banks both in investment banking and private banking. From 1995 to her nomination, she worked at Société Générale Marocaine de Banques where she became in 2007, the first woman on a management board of a bank in the country.
In 1999, she was elected President of the Association of stockbrokers in Morocco for two terms. She co-founded in 2012 the Moroccan chapter of Women Corporate Directors – CFA Maroc, to promote women in corporate boards.
Nezha received an award for her “outstanding contribution to financial and professional services”, by the G8 in June 2013 in London.
As the Chairperson and CEO of the AMMC, Ms. Hayat is a member of the Board of The Supervisory Authority of Insurance and Social Welfare (ACAPS) and a member of the Coordination and Systemic Risk Monitoring Committee (CCRS).
She was decorated by His Majesty the King Mohammed VI, Officer of Wissam Al Arch (Order of the Throne) in 2013 and in 2019, she was awarded by Spain Commander of the Order of Civil Merit.
Ms. Lucía Buenrostro Sánchez, Chair of the Inter-American Regional Committee (IARC)
Lucía Buenrostro holds a bachelor’s degree on Actuary from the Universidad Nacional Autónoma de México (UNAM).
She has a master's degree in Economics from El Colegio de México and a master's degree in Mathematics and Finance from the Imperial College of the United Kingdom. Lucía also holds a master's degree and a Ph.D. in Economics from the University of Warwick.
She has a broad and solid background in the international financial system, where she has worked for almost 15 years. She has been responsible for the risk management areas covering different investment portfolios (equity, credit, interest rates, exchange rates, and commodities) and various types of risks (market, credit, and operational). In regulatory matters, she has coordinated projects to implement the Basel Accords, particularly the quantitative impact analysis of Basel III and its subsequent reforms.
She has been a lecturer and researcher at UNAM, the University of Warwick, and the University of Oxford. She has published in internationally renowned academic journals, and she is currently a writer in a Mexican newspaper. She was distinguished with academic scholarships from CONACYT (Mexico) and the Royal Economic Society (United Kingdom).
She was appointed Vice President for Regulatory Policy at the National Banking and Securities Commission (CNBV) of Mexico, starting on November 2021.
Ms. Karen K. Wuertz, Chair of the Affiliate Members Consultative Committee (AMCC)
As NFA's Senior Vice President of External Affairs and Communications, Ms. Wuertz is responsible for NFA's international activities, Member educational initiatives, investor education, corporate communications, media, and legislative issues. Ms. Wuertz joined NFA as it was being created. Throughout her NFA career, Ms. Wuertz has had extensive experience in the areas of rule-making, examinations, investigations, system development and enforcement.
Ms. Wuertz also had the opportunity to step aside from her derivatives regulatory career to lead the development and construction of a 33 story office tower in Chicago. This experience prepared Ms. Wuertz to tackle the unexpected, to negotiate and build consensus among many entities with various motives, build extensive networks, and manage budgets and spending of hundreds of millions. Ms. Wuertz also spent part of her career at the Chicago Stock Exchange overseeing its financial operations.
Ms. Wuertz is currently Chair of the Affiliate Members Consultative Committee of the International Organization of Securities Commissions (IOSCO). She co-chaired an IOSCO subcommittee to develop and publish a formal paper entitled "Model for Effective Self-Regulation".
She holds a CPA in Illinois, a Masters in Management from the Kellogg Graduate School of Management at Northwestern University and a Bachelor of Science degree in Accounting from the University of Illinois.