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Board of Directors

Giampietro Pizzo

Founder and President of the Board of Directors

Giampietro is President and Founding Partner of Microfinanza, a consulting firm servicing microfinance institutions globally, President of the Italian Microfinance Network (RITMI) and former Vice President of the European Microfinance Network (EMN). He is an economist with over 30 years of international experience in sustainable development and financial inclusion. His expertise span from management consulting to microfinance, rural finance and SME finance. Giampietro holds a master’s degree in economics from Ca’ Foscari University.

Svetlana Roganovic

Founder and Non-Executive Director

Svetlana is the Regional Credit Risk Director at VisionFund International and former CEO of Monte Credit Pogdorica, a leading MFI in Montenegro. She is also a member of the board of MFI KosInvets in Kosovo and the European Microfinance Network (EMN). With over 15 years of professional experience in diverse international settings, Svetlana developed solid competencies in digital transformation, poverty alleviation, financial and risk management, strategic management, operations and institution building. She remains dedicated to her community as part of Parent Council of High and Elementary schools in Podgorica where she serves to develop and improve the local education system. Svetlana holds a master’s degree in economics from the University of Montenegro.

Elwin Groenevelt

Founder and Non-Executive Director

Elwin is the founder and CEO of Qredits Microfinance, the only MFI operating in the Netherlands, which he created in 2009. He has also been member of the Board of the European Microfinance Network (EMN) from 2014 to 2021, serving four years as President. Before 2009, he has worked for 14 years in commercial banking (Credit Lyionnais Bank, Generale Bank and Fortis Bank), having initiated the first microfinance project at Fortis Bank. As a result of this success, Elwin was asked to work with the Ministry of Economic Affairs in the Hague to help set up a national microfinance program. Elwin studied business administration for the financial sector in Amsterdam and graduated in 1994.

Maria Doiciu

Founder and Non-Executive Director

Maria is a Senior Consultant at Eurom Consultancy, an advisory firm specialized in providing technical assistance to the microfinance sector in Romania and Eastern European countries. She is also former member of the Executive Board of FAER IFN SA, a Romanian MFI, and former Vice President of the Board of the European Microfinance Network (EMN). She has over 25 years of experience in management consulting, inclusive finance and SME finance in Eastern Europe and Central Asia. Her areas of expertise include financial inclusion, microfinance and social entrepreneurship. Maria holds an MBA from Durham University.

Pedro M. Sasia Santos

Non-Executive Director

Pedro M. Sasia holds a PhD in Polymer Chemistry from the University of the Basque Country and spent two decades working in the industrial sector, primarily focusing on water treatment and occupational health. In 2004, he transitioned to an academic role as a researcher and professor at the Centre for Applied Ethics of the University of Deusto in Bilbao, where he teaches courses on Professional Ethics, Organizational Ethics, and Ethical Assessment. In 2022, he assumed the position of Head of the Department of Humanities at the same institution. His research interests primarily revolve around Organizational Ethics, Economic alternatives, and Solidarity economy. Notably, in May 2013, he became the first Spanish member of the board of Banca Popolare Etica, eventually holding the position of Vice President from May 2019 to May 2022. He also served as a board member of the Federation of Ethical and Alternative Banks, where he assumed the presidency in May 2017. Furthermore, he was an active board member of the Spanish Solidarity Economy Network and has contributed significantly as a researcher and consultant in the field of Business Ethics. His literary contributions include books such as "La empresa a contracorriente. Cuestiones de ética empresarial" (Mensajero, Bilbao, 2004), "Banca Ética y Ciudadanía" (Trotta, Madrid, 2008), "La perspectiva Ética" (Tecnos, Madrid, 2018), "Fundamentos de ética empresarial" (Pirámide, 2023), and "Ethical Finance and Prosperity" (Routledge, 2023).

Olivier De Guerre

Non-Executive Director

Olivier founded Phitrust in 2003 cognizant that investors play a key role in encouraging companies to adopt sustainable and positive business models. As a pioneer in impact investing in France, Phitrust actively invests in and supports companies committed to transitioning towards more socially and environmentally responsible practices. Its role is instrumental in developing a long-term investment strategy to facilitate the transformation of listed companies and foster the growth of unlisted enterprises with significant social impact. Prior to establishing Phitrust, his career encompassed substantial experience as an asset manager, providing strategic investment advice to families, foundations, and institutional investors. In 1987, he co-founded GT Finance/Cristal Finance, later joining Crédit Suisse Asset Management in 1998, where he served as Managing Director in London and was a member of the Executive Board of the French subsidiary. Additionally, Olivier is actively involved as a director of the Admical association in France. His educational background includes graduation from ESSEC, the University of Nanterre (Economics), and the Ecole des Ponts et Chaussées (urban planning degree).

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Oscar Ugarte

Non-Executive Director

Oscar Ugarte has been the director of Seed Capital Bizkaia since 2008 and has previous professional experience in various management roles in the IT and electricity sectors. After graduating in Business Administration from the University of the Basque Country, he completed postgraduate studies in Communication at the ESIC, Internationalisation and also specialised in Inclusive Finance with the HBAccion executive programme and Social Impact at Oxford. During his tenure as director of Seed Capital Bizkaia, he launched several different instruments such as the venture capital microfinance entity, the social impact fund, and the crowdfunding platform. Along this path, Oscar has participated in different international organisations related to the social impact environment and has been part of the board of the European Microfinance Network (EMN) since 2018.

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