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Three Trustees appointed

11 March 2008

 

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The International Accounting Standards Committee (IASC) Foundation announced today the appointment of three Trustees:

  • Robert Glauber, retired chairman and chief executive officer, NASD (the private sector regulator of the US securities market), and former Under Secretary of the Treasury for Finance, United States
  • Pedro Malan, former Finance Minister and former president of the Central Bank of Brazil, and currently chairman of the board of Unibanco
  • Luigi Spaventa, former chairman of the Commissione nazionale per le società e la borsa (Consob) and former Minister of the Budget, Italy.

The appointments mark the completion of an international search and carry the support of the Trustee Appointments Advisory Group.

The search focused on identifying candidates with experience, at the highest levels in the public and private sectors, with issues associated with international capital markets.

The appointments fill vacancies created by the retirement of William McDonough of the United States, Roberto Teixeira da Costa of Brazil and Kees Storm of the Netherlands, respectively. (Brief biographies of the three new Trustees and a description of the appointment process are included in the Note to Editors.)

In announcing the appointments, Gerrit Zalm, chairman of the Trustees, said:

We are delighted that Robert Glauber, Pedro Malan and Luigi Spaventa have agreed to join the Trustees. All three bring enormous experience on issues related to the effective functioning of the world’s capital markets. The Trustees are playing an important role in encouraging the adoption of International Financial Reporting Standards and ensuring the public accountability of the organisation, and I am sure that Bob, Pedro and Luigi will make a strong contribution to the organisation in fulfilling our duties.

Paul Volcker, chairman of the Trustee Appointments Advisory Group, added:

The Advisory Group believes that the Trustees have identified three particularly well-qualified individuals with relevant experience at a critical time for the organisation. We congratulate the Trustees for having conducted an open and thorough process to replace those leaving the organisation.

Press enquiries

  • Mark Byatt , Director of Corporate Communications
    Telephone: 44 (0)20 7246 6472
    Email: mbyatt@iasb.org
  • Sonja Horn, Communications Adviser
    Telephone: +44 (0)20 7246 6463
    Email: shorn@iasb.org