The Arbitration Board is competent in the case of disputes between EFFAS and members of EFFAS as well as disputes between members; in the case of disputes between EFFAS bodies; in the case of disputes between members of EFFAS or its members and third parties, if the parties have subjected themselves to arbitration on the basis of an individual arbitration agreement; in the case of disputes on the legality of the expulsion of a member of EFFAS on the demand of the member concerned.
Arbitration Board Members
Stefano Volante (AIAF, Italy)
Graduated in Economics in 1996, works for Bank of China Ltd Milan Branch (Italy) as Chief Audit Executive (CAE); he was also appointed as effective Member of the Supervisory Board of the Italian Branch. Member of EFFAS Arbitration Board since 2014.
He built up more than twenty years of professional experience working for multinational companies, financial institutions and an international leading consultant company (Big Four) and he obtained professional certification and qualifications in different matters such as governance, risk, advisory, auditing, compliance for banking and financial sector. He is also author of several publications.
He worked for two years in Samsung Electronics Italy as Chief Risk Officer, for ten years in KPMG as Senior Manager, for three years in EY as Manager and for two years in BDS London Branch (Unicredit Group).
He has been a Board Member and Treasurer of AIAF (Financial Analyst Italian Association) since 2014 (before he was Member of AIAF Arbitration Board since 2011). He is also a Member of Internal Audit Association (IIA), Information System Audit Association (ISACA).
Regarding the EFFAS, Stefano is Member of the Arbitration Board since 2014, having chaired the Board in the period 2014-2018.
Paulo Câmara – (APAF, Portugal)
Paulo Câmara holds a PhD in Law and he is an Invited Professor at the Faculty of Law of the Catholic University of Lisbon and a Partner at Sérvulo & Associados, where he co-heads the Financial Law, Capital Markets, and Governance Department. He also serves as the Head of the Legalink ESG Practice Group.
In addition to his academic and professional roles, Paulo Câmara is the Chairman of the General Meeting of the Portuguese Banking Association. He is also a member of the editorial committee of the Revista de Direito Financeiro e dos Mercados de Capitais (RDFMC).
His previous positions include Managing Partner at Sérvulo & Associados (2014-2022), Vice-President of the Public Company Practice and Regulation Subcommittee at the International Bar Association (2011-2013), and leadership roles at the Portuguese Securities Commission (CMVM) from 1998 to 2008. Paulo has also contributed to national and international regulatory bodies, including the National Council of Financial Supervisors, the European Securities Committee, and the OECD Steering Group on Corporate Governance.
Publishes and lectures regularly in the fields of Corporate Governance, Securities Law, Banking Law, Company Law and Financial Law and co-ordinates the research group Governance Lab (www.governancelab.org).
Judit Tóth (HCMPS, Hungary)
Alternate Members
Henning Esskuchen (ÖVFA, Austria)
Henning is head of CEE Equity Research at Erste Group and also the equity strategist for emerging Europe. Starting his career in 1996, Henning has gained substantial experience in regional equity markets. In his current position he oversees the activity of local and regional (sector) analysts in Austria, the Czech Republic, Croatia, Hungary, Poland, Romania and Serbia while he had exposure to Turkey and Ukraine in the past too.
In 1996 Henning joined Investmentbank Austria (later CA IB), being the country analyst for Romania. Taking a position in research at Erste Group in 1998, he was part of Erste’s expansion process into the region and was instrumental in setting up research activities across the region including a supervisory board function in local entities. Henning holds a master’s in business administration and economics from Ruhr-Universität Bochum, Germany, is a member of the Austrian Analyst Association. Also, he is a member of arbitration board of EFFAS and CESGA.