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Corporate Governance

Board of Directors

Setting AfrAsia’s Direction

AfrAsia Bank’s Board is responsible for signing off on the Bank’s strategy, ensuring its governance standards are upheld, while monitoring and assessing the Bank’s operations.

    Independent Director and Chairperson

    Member of the Institute of Chartered Accountants of Scotland


    Date first appointed as director : 8 January 2019


    Jean trained as a chartered accountant in Edinburgh. His work experience has been with Thomson McLintoch in Edinburgh, PWC, Kleinwort Benson and Security Pacific in Sydney. His specialisation in merchant banking was corporate lending and leasing. He was CEO of the Swan Group in Mauritius between 1992 and 2016 where his focus was in investment and risk management. He has held a portfolio of directorships since 1994 in various sectors including agriculture, commerce, finance, power generation and hospitality. He is a past chairman of the Stock Exchange of Mauritius. In his current INED portfolio his focus has been on risk management and governance.

    Chief Executive Officer

    Master of Business Administration in Finance - XLRI Jamshedpur
    B.Com (Hons) degree in Accounting and Finance - Delhi University, India

    Date first appointment as director: 19-Nov-15
    Date of last re-appointment: 19-Dec-16

    Sanjiv has over 38 years of banking experience having held senior positions in Asia, Africa and UK markets and has headed international banks over the past 18 years as CEO. He started his career with HSBC in 1979 and, over the years, worked in various capacities mainly in the Corporate Banking, Investment Banking and Credit & Risk Management divisions in India, UK & Mauritius until 2004. His last role at HSBC was Chief Operating Officer HSBC India. From 2004 to 2008 he was the Managing Director & CEO of RaboBank in India growing the franchise to become the largest one in all foreign Asia. He thereafter joined DBS India, leading them to be the fourth largest foreign bank in India during his tenure while conceiving their digital banking array.

    He is a successful leader of change and a major driver of growth at both corporate and operational levels, with a track record of delivering results in competitive markets. Sanjiv continues to build beneficial customer and staff relationships while driving banks to embrace the digital change.

    Non-Executive Director

    M.Sc. in finance and a bachelor’s degree in actuarial science - Université Laval.
    Chartered Financial Analyst designation since 1999.


    Date first appointment as director: 20-Sept-18

    As Deputy Vice President, Strategy and Corporate Development at National Bank of Canada, Mr. Caron is responsible for the strategic planning and execution of the bank’s mergers, acquisitions, divestitures and other significant investments.

    Mr. Caron has more than 20 years of banking experience. Over the course of his career, he has held key positions in capital management, mergers & acquisitions, performance management, corporate strategy, treasury operations, rating agency relations and financial planning.

    Prior to joining National Bank of Canada in 2013, he has been in charge of capital management and rating agencies relations at Desjardins Group between 2006 and 2013. With Royal Bank of Canada from 1995 to 2005, he served in corporate finance areas, such as mergers & acquisitions, financial policy, strategy and controller.


    Non-Executive Director

    Bachelor in Computer Science (BSc) - University of Manchester

    Fellow Chartered Accountant (FCA) – Institute of Chartered Accountants in England & Wales


    Date first appointment as director: 30-Apr-18


    Dipak is a seasoned finance and financial services professional with over 25 years of international experience in management consulting, corporate and investment banking, finance and strategy. He has held regional and group head roles with Standard Chartered, Barclays, Emirates NBD and Deutsche Bank in London, Hongkong, Dubai, Singapore, and most recently Frankfurt, where he was finance director for strategic financial planning at Deutsche Bank's global head-quarters. He came back to Mauritius to join IBL as Group Chief Finance Officer from January 2015. He currently holds directorships with several public interest entities, listed and regulated companies, and is a director of the Stock Exchange and the Economic Development Board of Mauritius and a former International Advisory Board Member of the ICAEW, based in the UK.

  • YVES JACQUOT (Alternate Director: Dominic Joseph Pierre Jacques)
    YVES JACQUOT (Alternate Director: Dominic Joseph Pierre Jacques)
    Non-Executive Director

    Master of Business Administration - ESSEC Business School

    Date first appointment as director: 16-Jan-15
    Date of last re-appointment: 19-Dec-16

    Yves has a wide experience in the banking sector. He is presently the First Vice-President of International Development for the National Bank of Canada Group and the Deputy Chief Executive of Natcan Investissements Internationaux SAS which is a subsidiary of National Bank of Canada. Previously, he was the Deputy Chief Executive of BRED BANQUE POPULAIRE and Managing Director of COFIBRED.

    Independent Non-Executive Director

    ENSAE Paris - Université Paris-Saclay
    DEA - Mathematics - Université Paris VI
    Masters in Economic Sciences - Université Panthéon Sorbonne

    Date first appointment as director: 16-May-17

    During his 33 years long career in the banking sector, Philippe has got a wide experience in the finance, asset -management and audit fields. He retired as CEO of the "Credit Cooperatif", a nationwide retail bank in France. Since 2011, he became an independent consultant specialised in restructuring. Philippe has also created a micro- finance network in West-Africa (Mali) in the nineties and has a strong knowledge of Madagascar where he had lived after his student life.

    Non-Executive Director

    Breakthrough Executive Program with Egon Zender-Mobius in Portugal

    Advanced Management Program (AMP180) from Harvard Business School, United States

    Executive Education Program at INSEAD – France

    Master’s in Management, Université d’Aix-Marseille, France and graduated from the Institut Supérieur de Gestion de Paris

    Date first appointment as director: 05-Nov-18

    Arnaud Lagesse is the Group CEO of IBL Ltd, the largest business group on the island of Mauritius. He is one of the Mauritian private sector’s prominent leaders and is known to drive the Group he leads with innovative and challenging undertakings. Two years ago, he initiated the merger of GML Investissement Ltée and Ireland Blyth Limited, creating both a successful Group and substantial shareholder value for all stakeholders since the Group’s introduction onto the local stock market.

    Independent Non-Executive Director

    MA Hons in Philosophy, Politics & Economics
    Keble, Oxford University, UK

    Date first appointment as director: 20-Apr-16
    Date of last re-appointment: 19-Dec-16

    After a brief career in financial journalism, as Assistant Editor for the Economic Times from 1979 to 1980, Arvind joined Grindlays Bank in 1981. He spent virtually all his career in foreign exchange, fixed income and derivatives, occupying senior roles in India such as Manager Treasury HSBC, General Manager Global Markets ANZ Grindlays and Managing Director Global Markets at Bank of America. Arvind was also the Head of Retail Banking at HSBC India in 1995/96 and during his career he had assignments with the ANZ treasury in Melbourne and HSBC's Debt Capital Markets in London. From 2001 to 2012, he was a Financial Advisor and Trainer in Financial instruments and Derivatives. He started the Fixed Income & Money Market Association of India (FIMMDA) and was its Chairman in 1999 & 2000. He was also part of the RBI’s Committees on Foreign Exchange and Bond Market. He led a turnaround of Tata Asset Management as its MD & CEO from 2012 to 2015 and has also served as an Independent Director on the Board of Rabo India Finance Limited and Canara Robeco Asset Management.

    Independent Non-Executive Director

    MBA with High Distinction from Harvard Business School
    MA (Hons) from Oxford University in Oriental Studies (Chinese)

    Date first appointed as director:  08-Jan-19

    Mathew Welch has over 25 years of experience in the Asian Financial Services arena, with a strong track record of building and leading various businesses in this sector throughout the region. His expertise spans across a diverse range of financial businesses, including Investment, Wholesale and Consumer Banking as well as Asset Management/PE Investment.

    Prior to joining AfrAsia Bank, Mathew occupied a multitude of roles in companies such as Daiwa Investment Bank and ING Bank. Alongside being Managing Director, Investments at Temasek Holdings, he also served on the Boards of various investee companies, including Asia Capital and Advisors.

    Based in Singapore as the Global Head of Banks and FI Head of Asia at Standard Chartered Bank, Mathew grew the FI revenues more than fivefold from 2003 to 2007, adding more than US$1bln in sales and creating one of Asia’s largest FI businesses. In the 1990's, he contributed to building McKinsey & Co's financial institutions practice in Southeast Asia. Mathew started off his career as an International Officer at HSBC in 1986, gaining expertise in key financial markets such as London, Hongkong & Thailand.

    Non-Executive Director

    MBA, Columbia University
    Member of Singapore Institute of Directors

    Date first appointment as director: 08-Jan-19

    Francois has over 25 years of investment banking and corporate finance experience in Asia, Europe and the US. He specialises on advising Asian groups and financial sponsors on their M&A and fund-raising requirements as well as international companies on their growth and development strategies in Asia. Francois began his career in New York with JP Morgan Chase and then was in London with Dresdner Kleinwort Benson before moving to Asia. He became a Managing Director of Corporate Finance at HSBC and subsequently served as CEO of HSBC Investment Bank in Indonesia. He then joined BNP Paribas as Head of Corporate Finance and Investment Banking for South East Asia before becoming Managing Director of Capital Asia Partners.

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