Belgian Gov’t. Names Former FERMA President Dequae to Dexia Board

February 22, 2012

The Government of Belgium has appointed Marie Gemma Dequae, currently a scientific advisor to the Federation of European Risk Management Associations (FERMA) and a past president of the federation, as an independent director of Dexia Bank Belgium and its subsidiary Dexia Insurance Belgium.

The Belgian Government bought Dexia Bank Belgium in October 2011 as a result of the serious financial difficulties affecting its parent company Dexia Group.

Dequae is one of nine independent directors on the new board of the company. According to an announcement from FERMA, she “will focus particularly on the three lines of defense aspect of the bank’s governance, covering operational management through risk management and internal audit to external audit.”

Dequae commented: “My main focus will be on the three lines of defense as set out in banking and insurance directives. Although financial techniques and insurance contracts and wordings are important, these activities all need to come under the overall risk management process. This is something I can contribute to the board, together with an ability to give a client’s perspective, since Dexia Belgium is a retail bank.”

She was president of FERMA between 2005 and 2009 and has now become its technical advisor providing support on issues such as corporate governance. Her work with FERMA includes the preparation of two guides on the risk management and internal audit provisions of the 8th European Company Law Directive in collaboration with FERMA Vice President Michel Dennery.

Source: Federation of European Risk Managers

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