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GLEIF Board of Directors Appoints Five New Members

The GLEIF Board of Directors welcomes new members from Australia, China-Hong Kong, Hungary, Mexico and the United States of America


Author: Gerard Hartsink

  • Date: 2016-06-23
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  • Estimated Reading Time: 7 minutes

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On 22 June 2016, five new members were appointed to the Board of Directors of the Global Legal Entity Identifier Foundation (GLEIF). Article 13 of the GLEIF Statutes (see ‘related links’ below) sets out the recruitment principles that must be observed with regard to the composition of the Board.

The GLEIF Board of Directors is made up of minimum 15 and maximum 25 members; it comprises a minimum number of three members from each of the four regional groupings: North America (including Mexico and the Caribbean); Europe (including the Commonwealth of Independent States); Asia (excluding the Middle East); Central and South America, Africa, Oceania, and the Middle East. A member of the Board is eligible to hold office for a two-year term, renewable (with the consent of the Board) for an additional term of two years.

The following new members joined the GLEIF Board:

  • Daniel L. Goroff (USA): Mr. Goroff is Vice President and Program Director at the Alfred P. Sloan Foundation, a private philanthropy that supports breakthroughs in science, technology, and economics. His interests include behavioral economics, government regulation, reproducible research, mathematical knowledge management, as well as the economics of science and higher education. Mr. Goroff is Professor Emeritus of Mathematics and Economics at Harvey Mudd College, where he served as Vice President for Academic Affairs and Dean of the Faculty. Before that, he was a faculty member at Harvard University for over twenty years. Mr. Goroff has twice worked for the President’s Science Advisor in the White House Office of Science and Technology Policy, most recently as Assistant Director for Social, Behavioral, and Economic Sciences.
  • Paul Kennedy (Australia): Mr. Kennedy is an Honorary Fellow of Macquarie University in Sydney where he teaches in the Master of Applied Finance program and specializes in bank strategy and financial risk management. He holds a PhD from Cambridge University in the UK. Mr. Kennedy has worked in banking and risk management for over 20 years and for some of the world’s largest financial institutions including UBS, Credit Suisse, and HSBC. During his career Mr. Kennedy has been based in Switzerland, the UK, and in Australia, but the global functions that he has led have included teams in the USA and across Asia. Mr. Kennedy has held numerous senior risk roles implementing capital and credit models, policy and delegations, and regulatory compliance including anti money laundering (AML), all to provide banks with more efficient and effective risk management frameworks. Mr. Kennedy also established and led the Research and Risk Analysis team for the Australian corporate regulator Australian Securities and Investments Commission (ASIC), where he was responsible for implementing a risk-based approach to the development of financial conduct regulation in Australia. Mr. Kennedy has also served on the board of the Singapore-based insurance subsidiary of a major Australian bank. Mr. Kennedy is a regular invited speaker at professional conferences and has published several articles on achieving measurable business benefits from risk management, whilst also dealing with significant regulatory change. In 2016 Mr. Kennedy joined a newly-licensed UK start-up bank as their Chief Risk Officer, and as such he holds a Senior Management Function approved by the UK regulatory authorities, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).
  • Alfredo Reyes Krafft (Mexico): Mr. Reyes Krafft is Founding Partner and Chairman of Lex Informática Abogados. He is an Executive Vice President at AMPICI (Internet Mexican Association) and a member of the Telecommunications Law Institute, National Coordinator of ISO IEC JTC 1/SC 27/WG 2 Cryptography and security mechanisms and member of the promotion group for legislation in the area of e-Commerce (GILCE). Mr. Reyes Krafft is also a member of the Alfa-Redi community, as well as a member of the Internet Society Mexico Chapter. Prior to joining Lex Informática, and during his 40 years of professional experience, Mr. Reyes Krafft has held positions such as Legal Comptroller for Banco del Atlántico, NIC México Consulting Committee Member, President of the AMPICI, Innovation Concepts Regulation Director at Grupo BBVA, and GS1 México Managing Council Secretary (Mexican Association of Standards form AMECE e-Commerce). Throughout his career, Mr. Reyes Krafft has been awarded various honors for his internet-related achievements in Mexico. He was the first Mexican to obtain a CDPP Certification from the Data Privacy Institute in the ISMS Forum, Spain. Mr. Reyes Krafft has also combined his professional practice with being a professor in different institutions, such as in the Law Postgraduate Studies at the Universidad Panamericana, in the INFOTEC’s Information Technology Law M.A., and in the Engineering PhD program at the Instituto Politécnico Nacional and the Instituto Tecnológico de Estudios Superiores de Monterrey – ITESM (Virtual Campus). In addition, he also served as professor at the Electronic Commerce Faculty in the Private Law PhD program at the Universidad de Salamanca. He is author of several books regarding legal matters in the area of information technology, data protection, and personal data management.
  • Elemér Terták (Hungary): Until his retirement in February 2016, Mr. Terták was Principal Advisor at the Directorate General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) (former DG MARKT) of the European Commission. Previously, he served for six years as Director, Financial Institutions at the same DG. Prior to taking up his assignment in 2005 at the European Commission, he worked in his native country for more than one and a half decades in high ranking positions both in the banking industry and in the public sector. He has been CEO of the Dresdner Bank, Hungary and of the KDB Bank, Hungary from 2002 to 2003 and from 1995 to 2001 respectively. He has served as Deputy Secretary of State in charge for regulation from 2001 to 2002 and was the Permanent Secretary of State at the Ministry of Finance, Hungary, from 2003 to 2004. Elemér Terták was the first Managing Director of the National Deposit Insurance Fund of Hungary from 1993 until 1995. In addition to his professional functions, Elemér Terták holds several honorary positions. He is a Board Member of the Hungarian Association of Economists, and of the Association of Hungarian Controllers. He has also been a member of various other boards including the Budapest Stock Exchange, the Hungarian Banking Association, the Government Debt Management Ltd., the Student Loan Ltd. and is a registered arbitrator at the Financial and Capital Market Arbitration Court in Budapest.
  • Kam Keung Tse (China-Hong Kong): Mr. Tse is CEO of Tradelink Electronic Commerce Limited. He was first appointed as an independent Non-Executive Director of the company in March 2013 and subsequently took over the CEO position in July 2015. As a result, he has also become a director of the company's various subsidiaries, associates and certain related industry associations. Before joining Tradelink Electronic Commerce Limited, Mr. Tse worked mostly in the financial services industry, covering the Asia Pacific region. He began at State Street in 1993 to develop and lead its investment servicing business in the region, and was the first international officer to get promoted to Executive Vice President in 2002. He completed his career there as an advisor until early 2015. Prior to joining State Street, he had worked for Standard Chartered, Ogilvy & Mather, Baring Securities and the Hong Kong Government. Mr. Tse has served on many outside boards and committees. In recognition of his service contribution, Asian Investor awarded him its inaugural Individual Service Award in 2008. He is currently a member of the Financial Infrastructure Sub-Committee of the Exchange Fund Advisory Committee and the Process Review Panel of the Financial Reporting Council.

The members of the GLEIF Board, together with the wider GLEIF team, are committed to continuing the organization’s work to ensure that the LEI remains the industry standard best suited to providing open and reliable data for unique identification management.

At their meeting on 22 June 2016, the GLEIF Board Directors expressed appreciation for the significant contributions of Tim Smucker who will leave the Board following completion of his term. Mr. Smucker has served as a member of the Board, representing North America, since the creation of GLEIF in June 2014.


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About the author:

Gerard Hartsink was appointed by the Financial Stability Board as Chairman of the GLEIF Board. The profiles of Gerard Hartsink and all other members of the GLEIF Board of Directors are available on the GLEIF website.


Tags for this article:
Legal Entity Identifier (LEI), Global Legal Entity Identifier Foundation (GLEIF), Governance
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