The Trustees of the IFRS® Foundation, responsible for the governance and oversight of the International Accounting Standards Board®, today announced that Guillermo Babatz has been appointed as a Trustee, following approval by the IFRS Foundation Monitoring Board.
Mr Babatz has been appointed for a three-year term, commencing 1 April 2016 and renewable for a further three years.
He is a Managing Partner at Atik Capital, S.C., a Mexican advisory firm, and was formerly the Executive Chairman of Comisión Nacional Bancaria y de Valores (CNBV), the Mexican banking and securities commission.
Prior to joining CNBV, Mr Babatz was the Chief Executive Officer of Mexico’s Mortgage Bank and Guarantor, Sociedad Hipotecaria Federal (SHF), and has also held various roles within the Ministry of Finance in Mexico. He has been a director of the Board of Scotiabank (BNS) and the Chairman of the Board of Scotiabank Inverlat, the Mexican subsidiary of BNS, since 2014. Mr Babatz holds a BA in Economics from the Instituto Tecnológico Autónomo de Mexico (ITAM) and has a PhD in Economics from Harvard University.
Sheila Fraser, Vice-Chair of the Trustees and Chair of the Nominating Committee, said:
Guillermo has a vast range of highly relevant experience and contacts, given his career that has so far straddled academia, business, government and regulation. I look forward to working with him and welcome him as a Trustee.
Guillermo Babatz said:
I am honoured to be appointed as a Trustee. The widespread adoption of IFRS Standards is one of the most impressive achievements in global financial markets, and one that serves emerging markets particularly well. I am committed to play an active role as a Trustee, helping the IFRS Foundation achieve its goals.
Mr Babatz will fill one of the two North American Trustee vacancies.
To find out more about IFRS Trustees, click here.