Luc Neuberg is a founding partner of Fair Cost Index. He is also the Chairman of the Board of ALRiM, the Luxembourg Association for Risk Management.

In the past, he was the CEO, the head of risk management, as well as a board member of diverse investment fund management companies and investment funds. He is Member of Technical Committees CSSF. He teaches risk management courses at universities and for professional training institutes and he has published articles in numerous peer-reviewed journals.
Luc has a Ph.D. in Management Sciences from the University of Namur and a Civil Engineer degree from the University of Liège.

Since 1986 Serge De Cillia is active in the Luxembourg financial sector in various positions covering activities in Retail Banking, Private Banking, Private Equity, Philanthropy and Internal Audit.

For 20 years he was a member of the Management Committee of the Luxembourg Bankers’ Association and served as its CEO for 7 years. Serge has profound knowledge of European affairs and advocacy in the field of banking and finance regulation. For many years he was a Board member of CSSF, AGDL and Luxembourg for Finance. For 30 years he was involved in training and education as a lecturer, managing director and initiator of various activities for the better understanding of finance in a complex world.

François Chauvet is President and CEO of APTimum Conseil since 1996. He is founding member and president of Fair Cost Index.

François started his career as controller, then was hired as Market Director at Credit Chimique and Banque de l’Union Européenne and in 1990 launched Egide Finance, an asset management company. Founded APTimum in 1995, a service company dedicated to risk measurement and representative of FIS-APT in French speaking countries. During these years, François acquired a broad experience in risk, on the practical side, implementing tools and accompanying more than 65 clients in the asset management area, as well as on the theoretical side through researchs on VaR, TaR and extreme phenomenons and lecturing in various Universities (Dauphine, CNAM, Paris XII).

Graduated from the Ecole Nationale des Ponts & Chaussées, holds a MS in Operations Research at Stanford University, a PhD in Economics from La Sorbonne and the French actuarial certification. Member of the IAF.

Michael Derwael is Senior Director and Independent Risk Officer for MFS Investment Management with multi-jurisdictional coverage and Conducting Person in charge of Risk Management and Valuation for the Luxembourg-based management company.

He has been with MFS since 2019. He has 20+ years’ experience in the financial industry and, prior to joining MFS, helped build up risk practices at Lombard Odier Investment Managers, Luxcellence, Amundi and Quintet. Michael is an ALRiM board member and co-chair of the ALFI Liquidity Risks working group. He is an adjunct professor at the University of Luxembourg, trainer at House of Training and holds the FRM and CEFA certifications.

Michael W. Roberge, CFA, is chair and chief executive officer of MFS Investment Management® (MFS®). He sets the strategic priorities for MFS, leading a team responsible for the investment, distribution, finance, human resources, legal and technology functions at the firm. He is a member of the firm's management committee and is the chair of the MFS Board of Directors. Michael became CEO in January 2017 and held the role of chief investment officer from 2010 through 2018. He also previously held the roles of president of MFS from 2010 through 2017 and co‐CEO from 2015 through 2016. In 2006, he was appointed chief investment officer – US Investments and co‐director of Global Research.

Before that, he was senior vice president and associate director of Fixed Income Research and served as portfolio manager for several MFS fixed income funds. He joined the firm in 1996 as a credit analyst in the municipal fixed income group. Before joining MFS, he was a municipal credit analyst and portfolio manager for the Colonial Group from 1995 to 1996 and a credit analyst with Moody’s Investors Service from 1991 to 1994. Michael earned a Bachelor of Science degree from Bemidji State (Minn.) University in 1990 and a Master of Business Administration degree from Hofstra University in 1992. He is a Chartered Financial Analyst and a member of the CFA Society Boston.

He is also the vice chair of the board of Horizons for Homeless Children, a Boston‐based nonprofit organization dedicated to combatting the negative impact of homeless on children and families

Prof. Marti G. Subrahmanyam is the Charles E. Merrill Professor of Finance and Economics in the Stern School of Business at New York University, and Global Network Professor of Finance at NYU Shanghai. He holds a degree in mechanical engineering from the Indian Institute of Technology, Madras, and a post-graduate diploma in business administration from the Indian Institute of Management, Ahmedabad.

Both institutions conferred on him their Distinguished Alumnus Award. He earned a doctorate in finance and economics from the Massachusetts Institute of Technology. Professor Subrahmanyam has published over two hundred articles in leading academic journals in economics and finance, and several books in the areas of corporate finance, asset pricing including derivatives, and international finance. He has served on about eighty doctoral dissertation committees and has chaired over thirty five of them. He has been a visiting professor at leading academic institutions around the world, including Cambridge University, London Business School, Manchester Business School, the University of Melbourne, ESSEC, INSEAD, LUISS, and University of Venice Ca’ Foscari. Professor Subrahmanyam currently serves and has served on the editorial boards of many academic journals and was the founding editor of the Review of Derivatives Research.

He has won many teaching and research awards including New York University’s Distinguished Teaching Medal and the Annaliese Maier Research Award of the Alexander von Humboldt Foundation. He has served as a consultant to several institutions around the world. He has also sat on the boards of leading companies, in Asia, Europe and North America, and has served as an advisor to leading international and government organizations. More recently, he is active on the boards of several non-profit foundations, including the United Nations Foundation.

Prof. Davide Maspero is Associate Professor in the Department of Finance of the Bocconi University since 2001.

Prof. Davide Maspero received his Ph.D. in Economics from Bocconi University in 1987. After some teaching in other universities, he returned to Bocconi in 2001 in the Department of Finance.

He is former director and current coordinator of MAFINRISK – Master of Quantitative Finance and Risk Management. He is founding partner of Benchmark and Style srl, a company involved in the design and deployment of asset management tools for portfolio construction and fund selection, in turn partner of Quantalys, a French fintech web company providing financial information and analysis on asset management products.

He is the author of two books: "L'attività in derivati delle banche: rischi e informazione integrativa di bilancio" and “Le applicazioni dell'intelligenza artificiale negli intermediari finanziari” (a cura di, con C. Rossignoli), and published of numerous articles.

Professor Jorion is Professor of Finance at the Paul Merage School of Business at the University of California at Irvine. He has been named recently Chancellor's Professor.

Dr. Jorion has authored more than ninety publications directed to academics and practitioners on the topics of risk management and international finance. His research impact places him in the top 30 finance researchers in the world. His work has received wide recognition, including the Smith Breeden Prize in 1999, which is awarded to the best papers in the Journal of Finance, and a Graham and Scroll Award, given to the best papers in the Financial Analysts Journal. He has also done extensive work in the area of financial risk management with derivative instruments, and is known as an expert on the topic of Value at Risk.

Dr. Jorion has written a number of books, including “Financial Risk Management: Domestic and International Dimensions,” a graduate-level textbook on the global dimensions of risk management, and “Big Bets Gone Bad: Derivatives and Bankruptcy in Orange County,” the first account of the largest municipal failure in U.S. history. His book, “Value at Risk: The New Benchmark for Managing Financial Risk,” which is aimed at finance practitioners, has become a best-seller in its field. He also authored the “Financial Risk Manager Handbook,” published by Wiley.

Philippe Jorion is a frequent speaker at academic and professional conferences. He has delivered executive seminars on the topics of risk management, global asset allocation, fixed income markets, and international finance. He is on the editorial board of a number of finance journals. From 1998 to 2006, he was editor-in-chief of the Journal of Risk.

Luc Neuberg is a founding partner of Fair Cost Index. He is also the Chairman of the Board of ALRiM, the Luxembourg Association for Risk Management.

In the past, he was the CEO, the head of risk management, as well as a board member of diverse investment fund management companies and investment funds. He is Member of Technical Committees CSSF. He teaches risk management courses at universities and for professional training institutes and he has published articles in numerous peer-reviewed journals.
Luc has a Ph.D. in Management Sciences from the University of Namur and a Civil Engineer degree from the University of Liège.

Marc Fohr has more than 25 years of experience in the investment industry, especially in asset management. Prior to his current job as Head of an investment team of a bank, responsible to generate investment ideas for private clients, Marc held positions as team leader and portfolio manager at major financial groups operating globally, such as Citigroup Asset Management, Allianz Global Investors and Eurizon Capital (asset manager of the Intesa Sanpaolo Group).

He holds a Master in Business from the University of the Saarland, a CFA degree, and is a Board Member of the CFA Society Luxembourg.

Mario Zardoni is an Italian national and has been working in Luxembourg since 2002, where he gained extensive experience in the investment industry from both the fund management and risk management sides. He worked for leading investment fund managers / banks as Head of the Risk Management and Director of the Board (both in regulated companies and investment funds).

Mario spent almost 5 years as civil servant at the Commission de Surveillance du Secteur Financier (Luxembourg supervisory authority for the financial sector), within the Investment Funds Macro Prudential Supervision division, before joining Quantyx Luxembourg as Client Services and Risk Director. Quantyx is specialised in providing Risk Management and Valuation services to Alternative Investment Funds. He speaks Italian, English, French, Spanish and Russian.

Sébastien Schmitt is a Director in the Risk and Regulatory Advisory team @ PwC Luxembourg where he assists Asset managers with Risk and Regulatory requirements. He has spent 16 years in Consulting for Big 4 firms and assisting mainly Asset managers but as well bankers and insurers with risk, transparency and regulatory requirements. Sébastien has developed strong experience in risk management, financial and alternative investments.

Dominique Valschaerts has worked more than 25 years for Stock Exchanges, in Brussels and Luxembourg, in various capacities, including General Manager, CEO and member of the executive board. He has acted as executive director on the board of several non-public companies.

Dominique has more than 20 years of expertise in the asset management industry.

He also sat on several advisory committees of the “Commission de Surveillance du Secteur Financier” (CSSF) in Luxembourg, including the “Comité OPC”.

Dominique is ILA Certified Director and is sitting on various board in his capacity of recognized expert in alternative finance, market infrastructures, corporate governance, and regulatory matters.

Andrea Gentilini has been Head of Financial Market Infrastructures division of the Commission de Surveillance du Secteur Financier (CSSF) since February 2017. He is the CSSF’s Alternate ESMA BoS Member and since March 2023, he has been appointed Chair of the ESMA Post Trading Working Group and co-Chair of the T2S Cooperative Arrangement.

Andrea Gentilini has been Chair of the CEMA EMIR Task Force, responsible for the development of EMIR risk indicators, to promote data driven supervision and supervisory convergence, as well as knowledge sharing and peer learning.

Andrea Gentilini joined the CSSF in 2014 and has been working in the Financial Market Infrastructure Division ever since, contributing to the development of the CSSF’s authorisation process for CSDs under CSDR and support the work of the CSSF in the policy activity related to CSDR, EMIR and SFTR. Before joining the CSSF in 2014, he worked 15 years in the financial sector in Luxembourg (at PwC Luxembourg, and as portfolio manager in a Luxembourg based management company) and in China (head of international business in a Chinese fund management company, based in Shenzhen).

Andrea Gentilini was born in Milan, Italy and studied economics at Bocconi University, where he obtained also a Master’s degree in economics.Andrea is married with 1 child. He holds Italian and Luxembourgish nationality.

Gaetan Braida is a Risk Management and Valuation specialist, working in the Investment Funds industry in Luxembourg since 2015, focusing on both UCITS and AIFs Funds (including Private Equity, Debt, Infrastructure, and Real Estate assets).

Gaetan holds a Master’s Degree in Finance with a specialization in Financial analysis and Asset management from the IAE Nancy School of Management.. He is also certified FRM® (Financial Risk Manager), a member of the ALRIM association, and a member of Technical Risk Management Committees of the ALFI association in Luxembourg.

François Petit leads a division of the Commission de Surveillance du Secteur Financier (CSSF), the supervisory authority of the Luxembourg financial sector, which is dedicated to the supervision of investment fund managers. Before that position, François was in charge of the division responsible for risk management and macro-prudential supervision of investment funds. Prior to joining the CSSF, François was the head of risk and compliance for Amundi Luxembourg.

He also led different risk management departments at KBL Luxembourg (now Quintet Luxembourg). He speaks or coaches on risk management and fund management at numerous conferences and seminars. He also teaches courses on strategy at a French university.

François Chauvet, PhD, is President and CEO of APTimum Conseil since 1996. He is founding member and president of Fair Cost Index.

François started his career as controller, then was hired as Market Director at Credit Chimique and Banque de l’Union Européenne and in 1990 launched Egide Finance, an asset management company. Founded APTimum in 1995, a service company dedicated to risk measurement and representative of FIS-APT in French speaking countries. During these years, François acquired a broad experience in risk, on the practical side, implementing tools and accompanying more than 65 clients in the asset management area, as well as on the theoretical side through researchs on VaR, TaR and extreme phenomenons and lecturing in various Universities (Dauphine, CNAM, Paris XII).

Graduated from the Ecole Nationale des Ponts & Chaussées, holds a MS in Operations Research at Stanford University, a PhD in Economics from La Sorbonne and the French actuarial certification. Member of the IAF.

Since 1986 Serge De Cillia is active in the Luxembourg financial sector in various positions covering activities in Retail Banking, Private Banking, Private Equity, Philanthropy and Internal Audit.

For 20 years he was a member of the Management Committee of the Luxembourg Bankers’ Association and served as its CEO for 7 years. Serge has profound knowledge of European affairs and advocacy in the field of banking and finance regulation. For many years he was a Board member of CSSF, AGDL and Luxembourg for Finance. For 30 years he was involved in training and education as a lecturer, managing director and initiator of various activities for the better understanding of finance in a complex world.

Eleonora Labita is an Associate in the Fund & Real Estate Legal department of Intertrust Group Luxembourg. She has been managing the Family agricoltural Holding for over 6 years. She previously worked for Allied International Group.

Eleonora holds a Master in Moral Economy & Sustainable Development and Sustainabilities Studies, a Master in Private Equity and Investment Funds as well as an Executive Diploma in Islamic Finance and Entrepreneurship from Alm College Dundee.

Nicolas Deldime is partner in the regulatory consulting practice of Arendt. Nicolas is consultant in regulatory matters since 2001. Nicolas has in-depth expertise in Luxembourg and European financial sector regulation and its impact on business, gained in servicing numerous banks, asset servicing firms, funds and asset managers.

He notably provides advisory services in relation to MiFID, fund distribution operations, business and license transformation and fund manager compliance. He is Lecturer at the Faculty of Law, Economics and Finance of the University of Luxembourg. Nicolas holds a master's degree in Law from the Catholic University of Louvain-La-Neuve (Belgium).

Paul Kleinbart has more than 35 years of experience in financial services. Since 2001, he has been a trainer in financial services and risk management, both at the university level and for professional training institutes. He has been a member of ALRiM's Board of Directors since 2003 and is responsible for ALRiM’s risk management training program.

Sylvain joined Deloitte Luxembourg in January 2012 and is Partner leading our Advisory & Consulting offering for the Investment Management industry. He is specialised in risk management advisory, analytics and regulatory operate services for the investment fund industry.

Sylvain assists Luxembourg and worldwide asset managers with a full suite of regulatory reporting solutions, covering fund distribution, regulatory reporting, institutional investors reporting, fund analytics, and risk advisory. Before joining Deloitte, Sylvain previously worked as Risk Manager in the asset management industry in Paris and as Equity Derivatives Structurer for an investment bank in London.

Sylvain graduated from Ecole Centrale Paris in 2005 and is certified Financial Risk Manager (FRM®) by the Global Association of Risk professionals (GARP).

Vincent is partner at EY, and leads the dedicated Quant team (the ‘Derivative Valuation Center’) specialized in providing assurance on the valuation of derivative instruments, structured products or other complex financial instruments supporting the audit team.

He started his professional career in measuring and managing Asset Management risk in the asset management departments of a leading private banking & depository institution in Luxembourg, building the market risk control framework of in-house UCIs and large institutional portfolios.

Jean-Christophe is an Advisory Partner and Head of the Regulatory and Risk services for the Asset Management & Alternative Investment industry. He has over 15 years’ experience in successfully helping ManCos & AIFMs in their Regulatory Risk mitigation and Business Transformation Programs. He covers the full range of ManCo/AIFM verticals, providing support in the design and review of Internal Control frameworks, Governance & Oversight arrangements, Target Operating Model and Regulatory Approval processes.

Benoît Wtterwulghe leads the Consulting department of BDO in Luxembourg. He has an experience of more than 25 years in the finance industry and has an extensive knowledge of the regulatory and risk management framework for banks and the asset management industry.

Prior to joining BDO in 2021, he has carried out the successful creation and development of two banks in Luxembourg as Executive Committee member and member of the Board of Directors.

He used to work for Accenture where he led several major international projects like the transfer and business model design of the Private banking activity of Paribas in France on the BNP platform. He was previously a member of the management committee and board of directors of a stock broker in Antwerp.

Benoit is currently assisting entities of the financial sector in the reorganization of their compliance, risk management or IT activities.