International Governance Structure
The ACI FMA takes great pride in its international governance structure. Our Management Board is comprised of senior volunteers from institutions in our regions, plus our Treasurer, and follows an established set of Statutes for guidance. The Management Board takes a number of important decisions, as suggested by the President Delegate, who acts in an executive capacity. The ACI FMA Council is the global governing body that oversees all activity, and is comprised of National Association presidents and secretaries for each of the member countries.
The Management Board has created three main committees to oversee that most important components of ACI FMA: The Committee for Professionalism, which governs our guidelines for good market practices and ethical conduct, the Foreign Exchange Committee, overseeing our view of major issues in the foreign exchange markets, and the Board of Education, responsible for the integrity of the suite of wholesale market-based exams, including tests on the ethical conduct components of our work. The Board also benefits from the work of the Audit Committee and from the work of other ACI FMA Working Groups (https://acifma.com/working-groups-and-committees).
ACI FMA Management Board
The Management Board runs the ACI FMA internationally, with members elected by the Global Council. It is comprised of the Chairman, the Treasurer, a Representative of the Committees/Working Groups, a Legal Advisor (non-voting member) and five Board members representing the ACI FMA Regions. The President Delegate may participate in the Management Board meetings as a non-voting member delegated by the Management Board.
Chairman and Working Groups and Committees Representative
Stéphane Malrait is ACI FMA Chairman since June 2021 and ACI FMA Working Groups and Committees Representative at the Management Board since November 2020.
Stéphane has been effectively engaged with ACI FMA for more than 15 years, contributing to different projects. Since the creation of the ACI FMA FXC in 2010, Stephane has chaired this Committee, and he is a member of the ACI FMA Crypto Working Group. Stéphane has also been a member of the ECB FX Contact Group working on the FX Global Code and has co-chaired the GFXC Algo and TCA sub-group looking at the 3-years review of the Code.
In addition, Stéphane Malrait has a strong background in financial markets. After fulfilling different leading positions such as FX e-Commerce Business Manager and MD Global Head of FIC e-Commerce in major banks, Stéphane is currently Managing Director and Global Head of market structure and innovation for Financial Markets at ING Bank NV.
Stéphane works with advocacy groups, policymakers, and regulators to follow the market structure and industry challenges impacting the financial market industry. He is also leading innovation activities in the capital market space within ING and develops external partnerships with Fintech companies. Stéphane actively contributes to industry working groups to represent ING Bank NV.
Vice-Chairman and Asia President
Perry Savundranayagam is ACI FMA Vice-Chairman since June 2021 and Asia President since November 2019 but his involvement with ACI FMA is long-lasting.
Perry’s interactions with ACI began in the early 2000s when Sri Lanka, his home country, was looking to grow its educational offering and develop local financial markets.
Perry joined the ACI FMA Board of Education (BOE) in 2011, and after acquiring the relevant experience naturally became ACI FMA BOE Vice-Chairman in February 2015.
Subsequently, Perry was elected ACI FMA Asia President in November 2019 and decided to step down from his ACI FMA BOE Vice-Chairman position, to better serve his region.
As ACI FMA Asia President, Perry is an active member of the ACI FMA Management Board and has now taken on additional responsibilities as the new ACI FMA Vice-Chairman.
Perry is a seasoned and versatile Capital Markets executive with over 20 years of experience in successfully leading business operations for a global financial institution.
Alain Strapart is currently ACI FMA Treasurer and he is retired from the Banking sector since 2016.
He joined Banque Degroof in Brussels in 1995 as treasurer covering fx trading, money markets products and interest rates derivatives.
Alain Strapart was President of ACI Belgium for a few years and before 2016.
Prior to this, he was in charge of the Money Markets desk at BACOB bank Brussels and for a period of 5 years.
From 1984 till 1990, he worked as Money Markets and derivatives trader at Banque Nationale de Paris Brussels, being member of ACI Intl since then.
Roy Daniels is ACI FMA Africa President since April 2020 but his story within the Association is long-standing and considers 20 years commitment.
Roy’s banking career began in Cape Town when he joined a banking branch of Standard Bank of South Africa. He was fortunate enough to start in the foreign exchange department, where his interest in FX began. Afterwards, Roy moved to the International Division in Johannesburg in 1987, before moving to Standard Bank London for 8 years (1992 – 2000). When Roy Daniels moved back to South Africa in 2000, his journey with the committee of ACI Forex began.
Roy is currently employed by Rand Merchant Bank (RMB), a division of FirstRand Group (FRG) in the role of Head of Trading for Sub Saharan Africa, excluding South Africa. He joined RMB in 2011.
Roy Daniels served in various roles for ACI FMA South Africa and as Chair, he was the serving Chair when South Africa successfully hosted the ACI FMA Global Congress in Cape Town 2009. He’s currently busy with his second term as Chair and will be stepping down in 2020.
His hobbies are golf and fishing and his passion is rugby.
Branko Petrovic is ACI FMA Europe co-President since November 2020, but his involvement with ACI FMA started in 2015 when he was elected as President of ACI Serbia. Branko is currently serving the second mandate as President of ACI Serbia and will be stepping down in 2022.
Branko is committed to ACI FMA and has been actively involved in ACI FMA projects, such as participating in the creation of the ACI FMA Congress Blue Print Book, hosting the ACI FMA autumn meetings in Belgrade in 2016, leading the organization of an ACI CEE Congress initially planned to be hosted in Belgrade in March 2020, but finally replaced by an FX Global Code Webinar Program for CEE participants.
Branko Petrovic has an MBA from Alba Graduate Business School and 14 years of working experience in Treasury, Asset and Liability Management and Market Risk, working for respectable financial institutions in Serbia.
Jørn Luffe Sodborg
Jørn Luffe Sodborg is ACI FMA Europe co-President since June 2021.
Besides being part of the ACI FMA Management Board, Jørn Luffe Sodborg has a long banking career, counting with more than 35 years of experience.
Currently and since 2015, he’s the Head of e-Business & Distribution FX & Liquidity at Jyske Bank. Most of his professional path took place at the Jyske Bank, where he held several leadership roles nevertheless, Jørn’s career counts also with professional experiences at the First National Bank of Chicago, London Branch as Senior Dealer Spot FX (1994-1996); at Citibank, Copenhagen as Trainee and Ass. Manager Spot FX (1989-1990) and at Vestjysk Bank for the traditional all-around retail banking education (1985-1989) where he began his career.
In addition, Jørn Luffe Sodborg has been for a very long time committed to ACI, being a member since 1990.
Furthermore, he’s has been a Board member and Secretary at ACI Forex Denmark since 2004. Moreover, he’s a member of the Committee for Professionalism since 2015 and has been a member of the Scandinavian FX Committee, since its foundation, in 2018.
On a personal note, Luffe, as he’s well-known in the industry, likes to travel, explore nature, cycle, and walking.
Khaldoon Al-Janini is the ACI FMA Middle-East President since April 2021 and has been the ACI Jordan President since 2017.
He holds an MBA, and BSc. in Business Administration and Economics from the University of Jordan.
Khaldoon has more than 26 years of experience in the financial markets and ALM and he is currently the Head of Treasury at Arab Bank – Jordan.
Khaldoon is committed to ACI FMA and it's core values. Given the importance of training and knowledge, Khaldoon consecutively has taken the ACI Dealing and Diploma exams, promoted by ACI FMA. In addition, he contributes tirelessly to promote the highest global standards of professionalism and ethical conduct, via ACI Jordan.
Khaldoon is also a holder of STA Diploma from the Society of Technical Analysis – UK.
Legal Advisor (Non-voting Member)
Martin Liebi is the Legal Advisor to the Management Board since November 2020.
Martin Liebi is the Head Capitals Markets Regulatory at PWC, he holds a Ph.D. in Law, a Master of Laws from Stanford University in the USA, and more than 18 years of work experience in the areas of private banking, asset management, capital markets, and investment banking. Besides, Martin is actively involved within ACI FMA as a member of the ACI FMA Regulatory WG, the ACI FMA Crypto WG, and as a contributor in specific cases whenever his expertise is required.
The ACI FMA Council is composed of the ACI FMA President and Secretary of every ACI National Association.
Find council representatives of National Associations: