www.amfie.org
N°65 - Mai 2017

Lettre d’information

ASSOCIATION COOPÉRATIVE FINANCIÈRE DES FONCTIONNAIRES INTERNATIONAUX

SUNSHINE

Dear all,

Our traditional General Assembly’s time is coming and your association is actively preparing to welcome you on June 17th in Luxembourg.

In the meantime allow me to unveil some of the topics we will further detail during our annual meeting ; our 2016 year end results and the long term cooperative spirit that drives our new way of presenting share value, the creation of a Strategic Committee that will help the Board of Directors take AMFIE several steps ahead, and the amendments to our long lasting by laws.

Your Board of Directors has taken a decisive view on how to handle the share value variations inherent to our activity. In order to privilege our cooperative and long term approach in our investments and revenue profiles, the Board has set up a share value calculation that will enable ordinary shares’ holder to improve their medium-term visibility and smoothen share value variations over time. This decision has been induced by financial markets volatility ; our Managing Director took advantage of to sell long term revenue driven investments with an opportunistic short term large profit. This move enables your Association to better reallocate the money earned into new long term positions when market conditions are deemed appropriate. In the meantime, our year end result rises thus increasing our ordinary share value exceptionally in the very short term.

As presented in our last information letter, AMFIE is discussing with personalities whose reputation, experience, knowledge, perspicacity and spirit will enlighten a newly formed Strategic Committee. We are delighted and honored to welcome the first members who accepted to join our exciting adventure :
 
- His Royal Highness Prince Guillaume de Luxembourg, who held many positions amongst which IFM and European Commission’s member and still holds important responsibilities as a Board member at Banque Générale du Luxembourg (BNP Paribas) as well as in other non for profit activities,
 
- Mr. Giovanni Palmieri, a former member of the European Council serving as Staff Council President of the “Organisations Coordonnées”, Chef of section at the Parliamentary Assembly and President of the European Council Staff Association,
 
- Mr. Julian Presber, who has served as Vice-President in various financial institutions in Luxembourg and is currently heading the University of Luxembourg Master’s course related to Luxembourg Financial Markets,
 
- Mr. Serge Krancenblum who heads SGG Group, a leading multi-jurisdictional provider of financial services based in Luxembourg and acting over 20 countries.
We trust this wide array of personalities will boost our Association and benefit all our members.

Last, as previously mentioned, our by laws needed refreshing as well as conformity with ongoing regulations. The latter have imposed a significant increase in responsibilities for our governance bodies hence modifying our supervision structure ; a good news for our members but some changes needed for your Association.

AMFIE’s staff and Board members are eager to welcoming you in Luxembourg at 9:00 am on Saturday June 17th for a warm and sunny day !
 
Stéphane ARGYROPOULOS
President of the Board of Directors