Our management board is charged with developing and implementing our strategy as well as complying with legislation, regulations, risk management and auditing.
While the Management Board is accountable in practical terms, FMO remains a flat organization. Reporting lines are short and clear, facilitating supervision and control. Appointed by our Supervisory Board, our Management Board is comprised of five directors:
Chief Finance & Operations Officer
Fatoumata Bouaré (1966) joined FMO’s Management Board in October 2017 as Chief Finance & Operations Officer.
Before that, she held the positions of Director Risk Management Head at the Bank of Africa Group and Deputy Chief Executive Officer of Bank of Africa Benin. In her capacity as the highest-ranking risk professional at the Bank of Africa Group, she was in charge of all integral aspects of risk, including environmental, social and sustainability risks. Bank of Africa Group is present in 18 countries with total assets of USD 7 billion, more than 500 branches and 6000 staff.
Fatoumata's early career developed primarily with blue-chip multinationals. Working first in treasury and finance, she held several regional finance roles with Citibank (Ivory Coast, Senegal), where she eventually transitioned to risk management. Thereafter, Fatoumata assumed two high-level risk positons at United Bank for Africa (Ivory Coast, Burkina Faso). She then joined Bank of Africa in 2010.
Fatoumata Bouaré has a degree in Engineering (Ivory Coast) and a Master of Business Administration from L'Ecole Supérieure des Sciences Economiques et Commerciales (ESSEC in France).
Chief Risk Officer
Franca Vossen (1972) joined FMO's Management Board in September 2022 as Chief Risk Officer.
She gained extensive risk and compliance experience in senior management and board positions at, amongst others: LeasePlan, DLL, NN Investment Partners, Fortis Investments and ABN AMRO Asset Management. At LeasePlan (2017-2020) one of Franca’s key results was defining and implementing LeasePlan’s sustainability strategy. For two years (2020-2022) she ran her own company, Resilience, focusing on corporate governance services for various clients. Franca also served as non-executive director and member of the Supervisory Board for several organizations over the years, still continuing her role as non-executive director at Coöperatie VGZ. Before joining FMO Franca held the position of Chief Risk Officer a.i. at Triodos Bank.
Prior to her working career, Franca was a top athlete in handball and volleyball. She has a master’s degree in Russian and German from the University of Leiden and acquired an MBA from EuroMBA.
Huib-Jan de Ruijter
Co-Chief Investment Officer
Huib-Jan de Ruijter (1976) has been appointed Co-Chief Investment Officer in December 2022, after being Chief Investment Officer since 2021.
He joined FMO’s Management Board as interim Chief Investment Officer in October 2020. Since 2015, Huib-Jan was Director Financial Institutions, responsible for the sector department which works closely with banks, microfinance institutions and fintechs to advance access to finance for entrepreneurs. He started within FMO as Investment Officer in the Financial Markets department in 2008. He was promoted to Director of this department in 2011 and in this capacity responsible for FMO’s treasury as well as loan syndications.
Before joining FMO, he was an Executive Director in the Financing Group of Goldman Sachs based in London. He started his career at ABN AMRO for which he worked in various roles in Amsterdam, London and Lisbon. Huib-Jan studied in Groningen where he completed Masters in both Business Administration and Law. He is a CFA Charterholder and attended Summerschool at the London School of Economics and Political Science (LSE) where he took courses on International Development.
Huib-Jan is Co-CIO alongside our other Co-CIO Peter Maila. Together they are responsible for FMO’s investment activities whereby Huib-Jan focuses on Impact; Agribusiness, Food and Water; Energy; Financial Institutions and Partnerships 4 Impact, our blending and mobilizing portfolio.
Chief Executive Officer
Michael Jongeneel (1973) joined FMO's Management Board in September 2021 as Chief Executive Officer.
Michael Jongeneel is the CEO of FMO. Previously, Michael held several non-executive board positions in, among others, a few social enterprises and NGOs, such as Oxfam International. Prior to FMO, Michael worked at McKinsey, Triodos Bank and Bain. Michael has over 15 years' experience in sustainable finance; he also founded and led the global sustainable finance practice in his role as partner at Bain. He has also authored a book on future leadership. In his personal life, he ensures that he and his family live a climate neutral life, and aims to be cumulative net zero before 2030.
Peter Maila (1977) joined FMO's Management Board in December 2022 as Co-Chief Investment Officer.
Peter Maila (1977) joined FMO in December 2022 as Co-Chief Investment Officer, with over 27-years working experience in finance and impact investing.
He came to FMO from his previous position as Africa Coverage Director at British International Investment (BII) in London. He was a founding member of their Equity Investments team, where he executed impactful transactions in Africa and South Asia. Prior to BII, Peter was the Investment Director, Principal Investments at HSBC Bank in London, where he worked on pursuing opportunities in sub-Saharan Africa. Before that, Peter worked at Rand Merchant Bank (RMB) and at Standard Bank, both in South Africa, his country of origin. For Vodacom Peter was a finance manager in South-Africa as well as in Tanzania.
Peter is Co-CIO alongside our other Co-CIO Huib-Jan de Ruijter. Together they are responsible for FMO’s investment activities whereby Peter will focus on ESG, Private Equity and KYC.