PRESS RELEASE
EFFAS Appoints Three New Members to its Capital Markets Commission
4 June 2025 | Frankfurt, Germany
The European Federation of Financial Analysts Societies is pleased to announce the appointment of three professionals to its Capital Markets Commission (CMC): Francisco Uria, Razvan Alexandru Rusu, and Raffaele Carnevale. Their expertise will contribute to the Commission’s mission of enhancing integrated capital markets for efficient & sustainable European economic growth.
The EFFAS Capital Markets Commission (CMC) was established in January 2018 to address the growing significance of capital markets in Europe. Its purpose is to enhance the allocation of financial resources and drive sustainable economic growth across European economies. The CMC plays an essential role in fostering the development of a more integrated and efficient financial market system, contributing to the long-term stability and progress of the European financial landscape.
Francisco Uria brings an exceptional background in both the public and private sectors. A PhD in Law and a State Attorney on leave, Francisco served in several senior roles within the Spanish Government from 1991 to 2004, including Deputy Minister of Finance. Since 2004, he has focused on banking and capital markets regulation, most recently as Global Head of Banking & Capital Markets at KPMG. Francisco is also an accomplished author on topics ranging from financial regulation to literature and history.
Razvan Alexandru Rusu, Vice-President of AAFBR, joins the CMC with over 20 years of capital markets experience. As a Portfolio Manager at Allianz-Țiriac Pensii Private in Romania, he oversees €1.5 billion in equities and is a key voice in ESG integration and policy engagement. Razvan holds a CESGA® certification and is pursuing a PhD in ESG in pension investments. His strategic insight supports the development of European capital markets aligned with the goals of the Capital Markets Union.
Raffaele Carnevale, a senior credit and public finance expert from AIAF, has held prominent roles in banking, capital markets, and rating agencies. During his time at Fitch Ratings, he led analyst teams in Milan and Moscow and coordinated international research initiatives.
“I am happy to join EFFAS CMC and to contribute to its working groups; more integration and deeper capital markets in the EU will be underpinned also by stronger roles of financial analysts.”
Raffaele is actively involved in promoting corporate governance through his work with Board Ahead and AIAF. He holds degrees in Economics, Banking, and Corporate Governance.
EFFAS warmly welcomes these new members and looks forward to their valuable contributions in shaping the future of European capital markets.
About EFFAS
EFFAS is a Not-for-profit organisation set up in 1962 with 14 national member associations in Europe, representing more than 18,000 Financial analysts, Asset managers, pension fund managers, corporate finance specialists, risk managers, treasurers among many other professional profiles from the investment profession. EFFAS is a certification body for finance with over 27,000 certificate holders worldwide.
For further information, please contact:
Alvaro Wagener Diez | Marketing & Communications Manager | Email: a.wagener@effas.com
Phone Number: +49 69 98959519
