The Next CMU High-Level Group brings together European personalities recognized for their expertise in capital markets, digitalization and/or financial innovation and reflects the viewpoint of the real economy including SMEs, investors, financial intermediaries and market infrastructures. The members have been appointed by the Ministers of Finance. The composition of the Next CMU High-Level Group is as follows :

Fabrice Demarigny

Fabrice Demarigny, a French attorney, PhD in Political Sciences, is a graduate in Law and Economics. Fabrice worked for eleven years in the French Securities Market Authority (AMF) where he was member of the Steering Committee of the College of Supervisors of Euronext and one of the drafters of the IOSCO Principles of Securities Regulation. In 2002, he has been appointed the Secretary General of the Committee of European Securities Regulators (CESR – today ESMA). Since 2008, Fabrice is a member of Mazars’ international partnership and a Partner of the Law Firm member of Mazars in France. He is currently the Chairman of Mazars Société d’Avocats, Global Head of Financial Advisory Services and Capital Markets and member of the Group Governing Council of Mazars. At the request of the French Minister of Finance, he published a report for an “EU listing Small Business Act” (2010 - Mme Christine Lagarde) and “25 Investing and Financing Recommendations for the forthcoming Capital Markets Union” (2015 - Mr Michel Sapin). Fabrice is the founder of Securities Lawyers Association (ADB) and is currently the Chairman of the board of the European Capital Markets Institute (ECMI).

Corien Wortmann-Kool

Corien Wortmann-Kool (1959) is chairman of the Board of ABP Pension fund since January 1st 2015. ABP is the Dutch Public Sector Pension Fund for employees in the government and education sectors (2,9 million participants, EUR 400 billion assets under management).
Until July 1st , 2014 she was a member of the European Parliament and vice president of the EPP group on Financial, Economic and Monetary Affairs. Before 2004, Corien was director at the Ministry of Transport. Corien holds a Master’s Degree in Political Science and Economics from the VU University in Amsterdam. Corien Wortmann-Kool is also vice chairman of the Supervisory Board of Aegon N.V., vice chairman of the Supervisory Board of Kadaster and chairman of the Board of Trustees of Save the Children Netherlands.

Joachim Nagel

Doctor Joachim Nagel, born in 1966, holds both a Masters degree and a PhD in Economics from the University of Karlsruhe. His career in the banking sector started in 1999 at Deutsche Bundesbank, where he served as Head of the President’s Office at the former Land Central Bank of Bremen, Lower Saxony and Saxony-Anhalt until 2003. Afterwards he was appointed Head of the Market Analysis and Reporting Section, in 2004 Head of the Market Analysis and Portfolios Division and in 2008 Head of the Markets Department at Deutsche Bundesbank. From 2010 to 2016, Dr. Nagel was a member of the Executive Board of Deutsche Bundesbank. He was appointed General Manager of KfW in November 2016. Since November 2017 he is member of the Executive Board of KfW with responsibility for the bank’s international operations. He is Chairman of Supervisory Board of KfW IPEX-Bank, First Deputy Chairman of Supervisory Board of DEG - Deutsche Investitions - und Entwicklungsgesellschaft mbH, and Member of Supervisory Board of Deutsche Börse Group.

David Vegara

Mr. Vegara (Barcelona, 1966) is Banco Sabadell’s Chief Risk Officer (CRO) and an Executive Board Member, with responsibilities over risk control, compliance, research and supervisory and regulatory relations. He is also a member of the Supervisory Board at the Hellenic Corporation of Assets & Participations S.A. (HCAP). Previously he was an Associate Professor (Lecturer) at ESADE Business School (banking, finance, macroeconomics, 2015-2018), Deputy Managing Director-Banking at the European Stability Mechanism (2012-2015) and Deputy Director of the Western Hemisphere Department at the International Monetary Fund (2010-2012). Prior to joining the IMF, Mr. Vegara served as State Secretary for Economic Affairs at the Spanish Ministry of Economy and Finance from 2004 to 2009 and was also Chairman of the European Union's Financial Services Committee (2005- 2009). Mr. Vegara holds a MSc. in Economics from the London School of Economics and an Economics degree from the Universitat Autònoma de Barcelona.

Lauri Rosendahl

Lauri Rosendahl is President of Nasdaq Nordics and Nasdaq Stockholm and Senior Vice President of European Cash Equity and Equity Derivatives within Global Transaction and Market Services.
Since joining Nasdaq in May 2009 and up until March 2016, Mr. Rosendahl was the President of Nasdaq Helsinki. From May 2009 to February 2013, Mr. Rosendahl was Head of Product Management for Nordic Equities and Nordic Equity Derivatives. During this time, Mr. Rosendal helped oversee the implementaion of Nasdaq Nordic CCP clearing for cash equities, the launch of INET trading system for cash equities and GENIUM INET for equity derivatives
Also at this time, Mr Rosendahl was responsible for the Baltic and Armenian market operations for Nasdaq. Mr. Rosendahl has over 20 years of experience in the financial markets, having held several senior management positions within securities trading, equity research and investment banking with several banks and brokerage firms, including Deutsche Bank, ABN Amro / Alfred Berg, Carnegie and Kaupthing. As Head of the Helsinki Stock Exchange, Mr. Rosendahl is a board member of the Securities Market Association in Finland.
Mr. Rosendahl is a board member of the Securities Market Association in Finland and was a founding member and board member from 1989 to 1993 of The Finnish Financial Analyst Society. He was also a board member of The Finnish Brokers' Association, The Private Brokers' Association and on the Supervisory Board of the Helsinki Stock Exchange.

Artur Granicki

Artur Granicki joined Wardyński & Partners in 2019 as counsellor. He practises in the field of capital markets law, new technologies law, and financial law. He is particularly involved in FinTech, blockchain, compliance, licensing proceedings, and financing of startups.
He is law graduate of Maria Curie-Skłodowska University in Lublin. Also completed two postgraduate studies in corporate law and capital markets law at the University of Warsaw.
Before joining Wardyński & Partners he served as director of the FinTech Department at the Polish Financial Supervision Authority (KNF). Before that, his experience included working in the Investment Funds Department at KNF, as in-house counsel at financial institutions, and as a lawyer in renowned law firms. He co-founded the Startup Poland foundation and co-authored the Simple Stock Company Act.
Artur is author or co-author of numerous publications on new technologies, financial law, and agreements for investing in startups.

Marcello Bianchi

Since March 2016, Mr Bianchi is Deputy Director General in Assonime (Association of the Italian joint stock companies), in charge of Corporate Governance and Capital Markets Area.
He is also Coordinator of the Technical Secretariat of the Italian Corporate Governance Committee, Member of the board of European Issuers (pan-European organization representing the interests of publicly quoted companies across Europe) and Member of the Advisory Committee of Borsa italiana.
At Consob (the Italian Securities Regulator) from 1990 to February 2016, he worked on supervision (Head of Corporate Governance Division), regulation (Head of the Regulation Impact Analysis Unit and Head of the Regulatory Strategies Division), research (Head of Statistic Unit), and internal administration (Head of Human Resources Division).
He was the Chairman of the OECD Corporate Governance Committees (from 2007 to 2016).
Mr Bianchi was also the chairman of the Working Group on Company Law at the European Council during the Italian Chairmanship under the Italian Presidency (second semester 2014) for the revision of the Shareholders’ Rights Directive.

The work of the Next CMU High-Level Group is supported by:

  • Johan Barnard (Coordinator)
  • Laurent Clamagirand (Senior Advisor)
  • Elina Yrgård
  • Romana Ries
  • Amine Attioui