Financial Capital Committee

This Committee focuses on corporate reporting, capital allocation, audit and assurance, and internal controls.

Nga Pham
Monash Centre for Financial Studies

Committee Chair

Nga has over 20 years of experience in financial education, research and advisory services. At Monash University, Nga is a senior research fellow at the Monash Centre for Financial Studies, working on climate change, modern slavery, corporate governance, shareholder activism and pension systems. Her research aims to inform investors in their decision-making process and has been featured in prestigious media, including the Wall Street Journal, Bloomberg, Australia’s Financial Review and SBS World News. She is also the director of Research Impact.

From 2015 to present, Nga has been an ESG consultant for the International Finance Corporation, the World Bank Group, working with the advisory team on services for corporate clients and market capacity building.

Nga currently co-chairs the International Corporate Governance Network (ICGN) Financial Capital Committee. Before that, she was a member of the Disclosure and Transparency Committee of ICGN. She co-authored the book titled “State on Board! Navigating Corporate Governance in Emerging Market Business” on the governance of listed companies with state capital.

Nga is a CFA Charterholder.

Roberto Danel
Control de Gestion de Negocios, S.C.

As a Corporate Governance consultant, Roberto advises shareholders, investors, the Board of Directors and its Committees, advisors, and senior management. Roberto also supports the succession planning of companies, mainly family owned.

As an independent director, Roberto is member of the Board of Directors of: Ganaderos Productores de Leche Pura (ALPURA) and its Executive Committee; he is member of the Audit Committee, of the Corporate Practices Committee and the Sustainability and Risks Committee; at Consorcio ARA in its Audit Committee, and he chairs its Corporate Practices Committee; of the Mexican Council of Credit Unions (Consejo Mexicano de Uniones de Crédito [CONUNION]), he chairs its Corporate Practices Committee; of Santander Asset Management; of Grupo Agroindustrial SALVI and its Board Committee; of Grupo Ángeles Servicios de Salud, he chairs its Audit and Corporate Practices Committee; of Grupo Herdez, he chairs its Audit Committee and chairs its Corporate Practices Committee; of Grupo Imagen Medios de Comunicación, he chairs its Audit and Corporate Practices Committee; of Grupo Real Turismo, he chairs its Audit and Corporate Practices Committee; of Unión de Crédito para la Contaduría Pública and its Corporate Practices Committee. He has been member of the Board of Directors of Afore Santander and its Investment Committee, up to its sale; of BANSEFI Audit Committee.

Advisor on corporate governance of the Mexican Banking Association (ABM]); of the Mexican Association of Specialized Financing Companies (AMFE); of the Mexican Association of Insurance Companies (AMIS); of the Mexican Association of Financial Lease, Credit and Factoring Companies (AMSOFAC); of the Mexican Stock Exchange (BMV); of the Financial Coordinating Council; of the National Agriculture and Farming Council; of Grupo ADO; of Grupo Bimbo; of Valanza México (BBVA); of the INFONAVIT Sectorial Business Directorate; of Nacional Financiera; of Servicios Financieros Navistar (International); of Toyota Motor Sales de México; of Walmart México.

Lamia El Bouanani
Moroccan Institute of Directors

Lamia El Bouanani is the general manager of the Moroccan Institute of Directors (IMA). She served as executive director between 2012-March 2024. IMA has been instrumental in establishing a certificate training program for board directors in Morocco, as well as in Côte d’Ivoire and supported institutes of directors in other West African countries. Lamia has also worked with various organizations, including listed companies, pension funds, state-owned enterprises, and financial institutions, to develop board evaluation tools and training programs tailored to the requirements of local regulators.

She has authored and co-authored several articles and reports on corporate governance issues, including a chapter in the publication “Corporate Governance in Emerging Markets” (Springer, 2014). Prior to her appointment at IMA, Lamia served as the special advisor to the CEO of the Caisse de Dépôt et de Gestion, the largest long-term institutional investor in Morocco from 2009 until 2015. She started her career managing development-related projects in various international organizations in France and Morocco, including the Parliamentary Network on the World Bank, American Bar Association, and the UNDP-Global Environment Facility.

In recognition of her achievements, Lamia was awarded the ICGN scholarship in 2013. She holds a master’s degree in international affairs earned in 2001 and a post-graduate degree in applied economics from Sciences Po Paris (IEP Paris). She holds a certificate in sustainability and climate risk from the Global Association of Risk Professionals GARP- (May 2023).

Elisa Cencig

Norges Bank Investment Management

Elisa Cencig is Senior ESG Policy Advisor at Norges Bank Investment Management (NBIM), where she is responsible for the fund’s engagement with international organisations, standard-setters and policymakers on sustainability, responsible investment and corporate governance. Prior to that, she worked at the UK Financial Authority, first on EU Withdrawal Policy and Strategy and more recently leading the FCA’s engagement at the Financial Stability Board. Earlier in her career, she worked at the Association of Financial Markets in Europe’s Brussels office on prudential and resolution policy and advocacy. She was also part of the European Commission’s secretariat team supporting the High Level Expert Group on Sustainable Finance.

She is an alumna of the Sant’Anna School of Advanced Studies in Pisa (Italy) and the College of Europe (Belgium) and holds a PhD in Political Science from the London School of Economics.

Andrew Hobbs
Ernst & Young

Andrew leads EY’s EMEIA Public Policy team which works with key stakeholders to strengthen the working relationship between the public and private sectors. A qualified solicitor (23 years PQE), Andrew is particularly interested in the role of good governance for business success. His team is currently covering policy areas like risk management, viability, sustainability reporting, the future of audit & assurance, anti-fraud, anti-money laundering, the role of tax intermediaries, data governance and ethics in AI.

Andrew is vice-chair of the Corporate Governance Policy Group of Accountancy Europe. He is a member of the Asia Corporate Governance Association India Working Group, the Corporate Governance Committee of the Business and Industry Advisory Committee at the OECD and the Research Advisory Board of the Institute of Chartered Accountants in England & Wales. He chairs the Corporate Governance Working Group of the European Contact Group whose members comprise the 6 largest audit networks across the EU. He is a regular blogger on the role of corporate governance in trust. Finally, as an experienced charity trustee, he speaks regularly to charities and social entrepreneurs about good governance.

Dana Hollinger

ABG International

Dana Hollinger is a highly accomplished professional with extensive law, finance, entrepreneurship, and governance expertise. She served as a prominent member of the CalPERS Board of Administration from 2014 to 2019, where she made significant contributions as the Chair of the Risk and Audit Committee overseeing an investment portfolio in excess of $400 billion. Dana’s professional experience includes being a Partner at ABG International, where she provides strategic vision, governance, and fundraising support to private equity funds, founders, and entrepreneurs. She has established strong connections with Institutional Investors and Sovereign Wealth funds worldwide.

In addition to her professional roles, Dana has held various advisory and board positions. She served on the Advisory Board of the Toronto Stock Exchange (TSX) and as a board member of the International Corporate Governance Board (ICGN), promoting high standards of corporate governance worldwide. She was also a board member of JUST EGG, a leading food technology company developing plant-based alternatives.

Dana has been involved in numerous additional services, including serving as a member of the Board of Trustees for Southwestern Law School, the Los Angeles Police Academy Magnet School Foundation, and advisory boards for Harvard University Women’s Leadership Board and American University School of Government. She has published articles on finance and investment topics, contributing to Newsmax Finance and other publications.

George Iguchi
Nissay Asset Management

George Iguchi is Chief Corporate Governance Officer and Senior General Manager of the Equity Investment Department at Nissay Asset Management, responsible for stewardship activities and equity research.

He is Board Governor of International Corporate Governance Network (ICGN) from 2015 to 2021, and also a member of IFRS advisory council from 2019.He is a member of a Technical Committee at Accounting Standards Board of Japan (ASBJ), Disclosure Working Group and Audit Committee of Business Accounting Council at Financial Services Agency (FSA), the Forum for Integrated Corporate Disclosure and ESG Dialogue Forum at Ministry of Economy, Trade and Industry (METI), etc.

His published reports and books include: ““Effective Disclosure of financial and non-financial information for ESG investments ”,Shoji-homu(2018),co-author of “Corporate Governance and Sustainable Growth of Corporates”, Shoji-homu(2018), co-author of “Practical Introduction to Corporate Governance Code”, Nikkei BP(2018),“The materiality of ESG factors on Corporate Value”, Securities Analysts Journal 51 (2013), “Corporate Governance with a Narrative Story”, Shoji-homu (2014), etc.

He received BA in Economics from Osaka University and is a CFA charter holder.

Natasha Landell-Mills
Sarasin & Partners

Natasha has a background in development economics and responsible investment. Prior to joining Sarasin & Partners, she spent over 6 years as the Senior Analyst leading ESG integration and several strands of policy work at the Universities Superannuation Scheme’s Investment Management arm; and four years in Budapest working with OTP Fund Management and the European Bank for Reconstruction and Development. Before moving into finance, Natasha spent a number of years working on sustainable development issues in Asia, Africa and Latin America. Natasha started her career as an Overseas Development Institute Fellow, working as the Chief Economist in the Guyana Forestry Commission. Natasha is currently a member of the Accounting and Auditing Practices Committee of the International Corporate Governance Network, and participates in a number of corporate governance and responsible investment fora. Natasha sits on the Investment Committee for the Cambridge University Assistants’ Contributory Pension Scheme and my non-executive directorship at Carbon Tracker. Natasha has a degree in Economics from Cambridge University, an MSc in Natural Resource and Environmental Economics from University College London, and is a CFA Charterholder.

Nana Li

Impax Asset Management

Nana joined Impax in 2022 and is responsible for leading Impax’s sustainability and ESG research and advocacies in Asia-Pacific. Nana researches, prioritizes and organizes ESG engagements with Impax’s investee companies and regulators, manages external sustainability and ESG-related inquiries, and assists in the ongoing development of the Impax proprietary ESG-analysis and methodologies.

Prior to joining Impax, Nana worked as the Research and Project Director at the Asian Corporate Governance Association (ACGA). At ACGA, Nana published five significant reports relating to corporate governance research in Asia. Whilst there, she also presented to the Shanghai and Shenzhen Stock Exchanges and the Shenzhen Asset Management Association. Since 2018, Nana has been the Chair of ACGA’s China working group, a role she continues to fill today. Upon joining Impax, Nana remains a Specialist Consultant to ACGA.

Nana has spoken at international conferences hosted by a number of financial institutions and international organisations including the OECD, EMIA, GRI, CLSA, HSBC, Deutsche Bank, Morgan Stanley, ACGA, ICGN, AmCham Shanghai, BritCham Shanghai and the CFA Institute.
Nana also sits on the Financial Capital Committee of the International Corporate Governance Network, the ESG Committee of the Women in Finance Asia and the Caixin China ESG30 Forum.
Nana has an MBA from the University of Chicago (Honors), a Master of Finance from the University of Hong Kong (Dean’s List), and a Bachelor of Commerce from the University of New South Wales (Distinction). She is a CFA charter holder and has finished the HKICPA Qualification Program.

David Madon
International Federation of Accounts

Mr. Madon joined IFAC in 2019, where he is Director, Public Policy & Regulation. There, he develops policy positions, conducts research, and manages external relationships with a broad range of stakeholders, including industry trade organizations, regulators, public authorities, and institutional investors. His most recent work has focused on the development of a global reporting system for sustainability/ESG information. Prior to IFAC, he represented the IFRS Foundation in the U.S. for nine years - focused on institutional investor relationships, funding-raising, and the adoption of IFRS Standards. Areas of expertise include corporate reporting (both financial and sustainability/ESG), corporate governance, investor protection, financial market regulation, and credit markets. Prior to his public policy work, Mr. Madon worked in financial services for twenty-five years, most recently as a Managing Director at Dresdner Kleinwort Wasserstein. He began his professional career in internal audit at First Chicago (now part of JP Morgan). He is a graduate of the Harvard Kennedy School (Masters in Public Administration-MC), The Booth School of Business (M.B.A. Finance) and Purdue University Northwest (B.S. Management-Accounting).

Maria Micu
Zurich Insurance Group

Maria Micu is heading the global finance activities of the Group Investment Management division of Zurich Insurance Group. Her international career is spanning two decades of capital markets experience in various senior finance and P&L leadership roles in Europe and US. She is an international executive with expertise in financial services industry in banking, investment management and insurance companies in Europe and US and started her career as a certified accountant and auditor.

Anne Molyneux
CS International

Anne Molyneux is a Director of CS International, a global consulting firm. She is an experienced director and former trustee of pension funds and is a Chartered Accountant. She advises in corporate governance and reporting, banking and securities regulations. She served as Vice-Chair of the ICGN Board of Governors, stepping down in 2020.

Anne has developed public and private sector corporate governance practices, including for companies, banks, regulators and stock exchanges. Her work includes the development of corporate governance codes, board policies and practices, board and committee charters. She undertakes board evaluations, audit committee advice and support, scorecards for national and company assessments and capacity building in sustainability and corporate governance and monitoring and enforcement mechanisms. In addition to private company and state-owned enterprise clients, her clients include the OECD, the World Bank, the International Finance Corporation (IFC), and the Asian Development Bank (ADB). She has wide experience in Asia, South Asia, Africa, Australia and Europe.

Anne is a business representative and contributor to the OECD Corporate Governance Steering Committee. She is an invited member of the OECD Asian Corporate Governance Roundtable. She represents the ICGN, the global investor community, on the International Auditing and Assurance Standards Board (IAASB) Consultative Advisory Group, the International Ethics Standards Board for Accountants (IESBA) Consultative Advisory Group and the International Integrated Reporting Council (IIRC). She is a fellow member of the Australian Institute of Company Directors, has a Master of Management and is a former member of the IFRS Advisory Council.

Luz Rodriguez
Colorado Public Employees’ Retirement Association

Luz Rodriguez has ten years of corporate governance and investment stewardship experience. She has advocated for shareholder rights and regulatory reforms that foster trust in the global capital markets.

Luz Rodriguez serves as the corporate governance lead and contributes to the development and implementation of the investment stewardship program for the $60 billion Association. The Investment Stewardship Division ensures compliance with PERA’s proxy voting guidelines; monitors company engagement activity; and provides reports to the Investment Committee of the PERA Board of Trustees. Ms. Rodriguez is a deputy board member of the Council of Institutional Investors.

Prior to joining the Investment Stewardship Division, Ms. Rodriguez was the Director of the Legal Services and Corporate Governance Division at PERA. She was responsible for overseeing PERA’s administrative review process, securities litigation policy implementation, the coordination of internal and external counsel, proxy voting, engagement with companies and partnerships in which Colorado PERA invests, and reporting to the Shareholder Responsibility Committee of the PERA Board of Trustee.

After graduating with an accounting degree from the University of Colorado in 2003, Ms. Rodriguez worked in investment accounting and was responsible for the pension payroll for Colorado PERA, which is the 23rd largest pension plan in the United States and serves as the pension fund for over 630,000 current and retired Colorado Public servants.

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Financial Capital Committee