Audit Committee of Europe’s Largest Investment Bank Welcomes New Chairman

Dr. Nuno Fernandes, Managing Partner at Odgers Berndtson Board Solutions in Portugal, has been appointed Chairman of the Audit Committee of the European Investment Bank (EIB).

Dr. Fernandes is a distinguished finance and governance expert, and brings a wealth of experience to his new role, having previously held the position of Chairman of the Board of Auditors at the Banco de Portugal, from 2018 to 2023.

He is also a Professor of Finance at IESE Business School and a Research Associate at the European Corporate Governance Institute. Dr. Fernandes has held various international advisory roles with companies and financial institutions across Asia, Europe, Latin America, and the Middle East, making him highly qualified to lead the EIB’s Audit Committee.

His leadership of Odgers Berndtson Board Solutions places him at the forefront of addressing complex board-related challenges, including optimising board composition and aligning board operations with governance and compliance. This background ensures he is well-prepared to enhance the EIB's governance standards at a time of unprecedented economic challenges.

Odgers Berndtson is a global leader in C-suite and board appointments, drawing on 50 years of experience shaping effective governance across global institutions. The company ensures that boards are not only diverse and independent but also equipped to handle the increasing complexities of governance in today's dynamic market environment.

The EIB, the European Union’s lending arm, and the largest multilateral lender globally, plays a pivotal role in financing sustainable investment projects that promote EU policy goals. These include improving infrastructure, fostering innovation, supporting small and medium-sized enterprises, and enhancing environmental sustainability.

"This is more important than ever," stated Dr. Fernandes, "as the EU grapples with economic disruption, from inflation and high cost of capital, to geopolitical tensions and climate change. I am looking forward to helping the bank through this period."

Virginia Bottomley, Chair of Odgers Berndtson’s Board Practice, said: “Dr. Fernandes’ extensive experience and strategic insights make him exceptionally well-suited to guide the EIB’s Audit Committee. His leadership will be instrumental in navigating the complexities of today’s financial landscape while ensuring the highest standards of governance and accountability.”

The Audit Committee is a crucial supervisory body within the EIB, responsible for overseeing financial integrity and ensuring that the bank operates in accordance with established practices and principles. Its responsibilities include financial oversight, risk management, and the oversight of both internal and external audits, along with ensuring compliance and adherence to best banking practices.

Dr. Fernandes’s appointment is expected to strengthen the EIB’s commitment to maintaining robust governance and financial practices as it continues to support economic development across EU member states and beyond.

About Odgers Berndtson Board Solutions:

Odgers Berndtson’s Board Solutions advises organisations on board member selection, ensuring they appoint quality board executives who can align culture with business objectives. We help our clients improve board effectiveness and performance through integrated solutions, including search, assessment, succession planning, and consulting.

For further information, please contact: nuno.fernandes@odgers.com

UK press enquiries: sam.middleton@odgers.com

About the European Investment Bank (EIB):

The EIB is the European Union's investment bank and the largest of its kind in Europe. It supports projects that contribute significantly to growth and employment in Europe, emphasising innovation, sustainability, and economic cohesion.

For further information, please check: https://www.eib.org/en/about/index

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