CFA Institute Appoints 4 New Members of Board of Governors

The Chartered Financial Analyst Institute announced on Tuesday the appointment of four new members to the association’s board of governors.

The appointments consisted of: Jennifer Garbowicz, West Florida market president at BNY Wealth; Ravi A. Gautham, senior vice president and head of Northern Trust Asset Management India; Lindsey Matthews, chief risk officer at USS Ltd.; and Ravi A. Gautham, senior vice president and head of Northern Trust Asset Management India.

The appointments, effective September 1, bring the total number of board members to 14. The board of governors’ members for the fiscal 2025 term come from eight countries: the U.S., Australia, Canada, China, Germany, India, Nigeria and the U.K.

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Marshall Bailey, who has served on the board since 2020, was appointed as chair of the Board of Governors, and Heinz Hockman was appointed as vice chair.

Board officers are elected for a one-year term, and board governors are elected for a three-year term. For the 2025 fiscal year, the institute’s Board of Governors includes:

Marshall Bailey, chair, non-executive chairman at MUFG securities EMEA PLC;

Heinz Hockmann, vice chair and member of the advisory council at Lovell Minnick Partners LLC;

Oyebanji Fehintola, senior director at the Africa Finance Corp.;

Margaret Franklin, president and CEO of the CFA Institute;

Jennifer Garbowicz, West Florida market president at BNY Wealth;

Ravi A. Gautham, senior vice president and head of Northern Trust Asset Management India;

Joanne Hill, chief adviser, research and strategy at Vest Financial;

Yimei Li, CEO of China Asset Management Co. Ltd;

Lindsey Matthews, chief risk officer at USS Ltd.

Vipin Mayar, executive vice president and head of AI innovation at Fidelity Investments,

Tricia Rothschild, operating partner at Advent International;

Maria Wilton, chair of Spirit Super; and

Pamela Yang, managing director and chief operating officer at the Bulfinch Companies, Inc.

The CFA Institute Board of Governors oversees the strategy, vision and mission of the organization. The board is the highest governing body of the institute.

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Tags: CFA Institute, Chartered Financial Analyst, Jennifer Garbowicz, Joanne Hill, Lindsey Matthews, Margaret Franklin, Maria Wilton, Oyebanji Fehintola, Pamela Yang, Ravi A. Gautham, Tricia Rothschild, Vipin Mayar, Yimei Li

The Universities Superannuation Scheme, the U.K.’s largest pension fund, has paid 405 million pounds ($531 million) for a portfolio of 3,000 shared ownership homes from Sage Homes, a joint venture between private equity firm Blackstone and property management company the Regis Group.

According to Sage Homes, the deal is the largest acquisition of a portfolio of shared ownership homes since the concept was first introduced in the U.K. Shared ownership, created under Britain’s Housing Act of 1980, allows buyers to acquire part of a property if they cannot afford to buy it entirely and provides them with the option to purchase the rest in the future. For example, the purchaser buys an initial share of 25% to 75% and pays rent on the remainder, with the share size determined by the buyer’s ability to afford and sustain the house.

As part of the acquisition, USS has launched Sparrow Shared Ownership to take over the management and operational responsibilities of the portfolio. Sage describes Sparrow Shared Ownership as a registered provider of social housing backed by USS Investment Management Ltd., the in-house investment manager and trustee for the USS.

“Sparrow Shared Ownership will provide further capital into the UK shared ownership sector,” said Eamon Ray, USS’ head of private credit and alternative income, in a statement. “This investment allows USS to use its long-term capital to support the multi-decade nature of Sparrow’s business plan whilst supporting the UK Social Housing Sector.”

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U.K. Prime Minister Keir Starmer, who took office in July, said the British government plans to build 1.5 million homes in the next five years while introducing planning regulation reforms to address the country’s housing shortage.

USS reported 73.1 billion pounds of assets, as of March 31, 2023, the last year for which it has released a summary funding statement.