Annual General Meeting September 5, 2019 AGM 2018-2019 1
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 2
YEAR OVERVIEW Jean-Philippe Dorp, CFA President
YEAR OVERVIEW 20 KEY FIG IGURES 60+ Partners 1,185 Published 13 Articles Members Universities 4,225 119 20 Candidates New CFA 28 Teams for the Research Charterholders Events Challenge 38 20 85 Scholarships Committees Volunteers AGM 2018-2019 4 4
FINANCIAL HIGHLIGHTS Chloé Lemarié, CFA Treasurer
FINANCIAL HIGHLIGTHTS Revenues were up 30% to €2 63k Net income improved from € 23K to € 64K Operating expenses by member increased from € 169K to €17 9K Cash & investments reached €2 56K , up € 55K 2017 2018 2019 6 AGM 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% AGM 2018-2019 7
FINANCIAL HIGHLIGHTS 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 AGM 2018-2019 8
SOCIETY 2.0 Jean-Philippe Dorp, CFA President
SOCIETY 2.0 What? Why? How? When? AGM 2018-2019 10
SOCIETY 2.0 What? CFA Society France Members Elections Board of Directors Strategy & Control (20) Committees Executive & Director Support (85) Volunteers Advocacy Director Members & Operations Ecosystem France Manager AGM 2018-2019 11
SOCIETY 2.0 Why? • CFA Society France has reached the critical size to set up a sustainable structure 4225 5 000 2660 4 000 • CFA Society France must adapt, enhance & 3 000 1185 2 000 701 expand services to its members 1 000 0 Members Candidates • CFA Society France is now recognized as a key player in 2014 2019 its ecosystem. It must promote its members’ opinions and expertise AGM 2018-2019 12
SOCIETY 2.0 Why? • 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 AGM 2018-2019 13
SOCIETY 2.0 How? • 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 AGM 2018-2019 14
SOCIETY 2.0 When? Involvement from past Boards for many years 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 interviews ✔ CFA Society France legal reviews (Latham & Watkins) Aug 19 Appointment of Marie-Alix de Meyer as Events & ✔ Operations Manager AGM 2018-2019 15
SOCIETY 2.0 When? 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 AGM 2018-2019 16
Q&A
NOMINATION COMMITTEE Joëlle Harb, CFA Vice President
NOMINATION COMMITTEE NOMINATION PROCEDURE 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 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 19 AGM 2018-2019 19
NOMINATION COMMITTEE NOMINATION PROCEDURE 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 20 AGM 2018-2019 20
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 AGM 2018-2019 22
VOTING PROCEDURE & CANDIDATES CANDIDATE PROPOSED BY THE NOMINATION If several candidates receive equal number of COMMITTE CANDIDATES votes “For”, “Abstain” and “Reject” for the available seat: Romain DEVAI, CFA Fabrice, ADRIEN, CFA Gad AMAR, CFA The candidate with the highest membership Adrien AULAGNIER, CFA seniority (“ancienneté d’adhésion”) will take the seat Tatiana BADOVA, CFA Charles-Edouard DREYFUSS, CFA Yijun FAN, CFA To be elected , a candidate must receive a higher Thierry INIGUEZ, CFA number of votes “For” than “Reject” Mourad LASSOUED, CFA Fabrice ROSSARY, CFA AGM 2018-2019 23
VOTING PROCEDURE & CANDIDATES Presentation of the Candidates AGM 2018-2019 24
VOTING PROCEDURE & CANDIDATES Please Proceed to Vote AGM 2018-2019 25
VOLUNTEER AWARDS Joëlle Harb, CFA Vice President
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