Oversight Committee
The Oversight Committee is an independent body that exercises an unbiased oversight of all aspects related to the provision of EFTERM®.
The Oversight Committee consists of at least three members: one Chair, independent experts with recognised standing and experience in financial markets, and experienced market practitioners directly involved in market operations or bearing direct responsibility within their company or organisation for these activities.
All members are appointed on a personal basis. They are independent and not subject to instructions from the company or organisation to which they belong.
A representative of the Calculation Agent is appointed as an observer.
Click here to read the Terms of Reference of the Oversight Committee.
ALBERTO COVIN, Head of Short-Term Funding, UNICREDIT
1st mandate as Oversight Committee Member
Alberto Covin started his career in Cariverona in 1989, where he worked both in branches and in the headquarters; in the Finance department he worked as a bond trader and portfolio manager for the proprietary account. Alberto moved to Milano in 1999 to be a derivatives structurer for UBM and, after a short experience in private banking, joined UniCredit Treasury to head the Short Term Funding and Interest Rate Management team.
In 2010 Alberto started working on benchmarks, and he also joined the ACI Money Market and Liquidity Working Group. He has been part of various international working groups and task forces, among which the euro RFR Working Group. Alberto leads now the Financial Market Infrastructures Team in UniCredit Group Finance. He holds a Statistics, Economics and Finance degree, obtained at Università di Padova.
GAËLLE MARQUES DOS SANTOS - DCEO of The European Money Markets Institute
Non-voting member of the Oversight Committee
Gaëlle Marques dos Santos has over twenty years of experience in the field of financial benchmarks. She began her career at the European Banking Federation, where she rapidly became involved in benchmark-related matters and on the Short-Term European Paper (STEP) programme.
Throughout her career, Gaëlle has actively contributed to the development of benchmark principles and related European regulatory frameworks. She played an instrumental role in major benchmark reforms, with a particular focus on governance, oversight, and compliance, and contributed to the creation of The European Money Markets Institute in 2014.
Within EMMI, Gaëlle has held several senior management positions, notably as Head of Governance, Risk & Compliance and Head of Corporate Services, before being appointed Deputy Chief Executive Officer in 2022.
As a member of the Oversight Committee, Gaëlle brings extensive expertise in benchmark administration, supporting the integrity and robustness of EFTERM.
TOMASZ MIRONCZUK, CEO of Instytut Rynku Finansowego, Poland
1st mandate as Oversight Committee Member
Tomasz Mironczuk is CEO at Instytut Rynku Finansowego (IRF). Since November 2020 IRF is interest rate benchmark administrator. IRF is the administrator of WKF - the first interest rate benchmark in Poland compliant with BMR. WKF is term rate benchmark based on retail market transactions.
2014 -2021 he was Senior Expert at the Gdansk Institute for Market Economy (IBnGR) focused on research in the financial benchmark sector.
Also as a former market participant he has a long career in a wide range of Polish banks and valuable experience in the money markets. From 2012 to 2014 he was President of the Management Board, CEO at the Bank Polskiej Spoldzielczosci.
Previously, until 2011 he was President of the Management Board, CEO at BGK the Polish public bank. Debt capital markets, liquidity risk management and interest rate risk management, operational framework/infrastructure for bank treasury operations, mid- and back office operations, interest rate indices are amongst his key professional fields of interest. In addition, since 2012 he initiated and has been running the SMRP system (Money Market Monitoring System) which is a statistical reporting format similar to the ECB’s Money Markets Statistical Reporting (MMSR).
PATRICK SIMEON, Head of Money Market, AMUNDI
1st mandate as Oversight Committee Member
Patrick Siméon joined Amundi in 2001 as a money market portfolio manager. In 2003, he became deputy head of money market, then head of money market management in 2006.
Patrick has over ten years of experience in cash and forex trading for Institutions such as Credit National, Natexis Banques Populaires and Caixa Geral de Depositos where he began his career in 1989.
Today, Patrick leads a team of 4 investment professionals, who manage money market funds and dedicated mandates in EURO and USD.
Patrick Siméon graduated from ISC, a French Business School with a major in finance.