GOVERNANCE
Overview
The Montreal Group (TMG) is a not-for-profit incorporated association with a modern governance structure that is light and flexible with cost-efficient operations. The bodies of the Corporation are the General Assembly, the Board of Directors, the Secretariat, and the Committees formed by the Board of Directors.
TMG’s activities are managed by the Secretariat’s team, supported by the Board of Directors, organ responsible for setting policy direction and ensuring sound financial management.
During the Annual General Meeting, The Montreal Group’s operational plan and financial accounts are approved. The operational plan determines the main activities to be carried out throughout the year and key topics of common interest.
The Board of Directors is also appointed during the AGM. It is responsible for setting the policy direction of the organization and ensuring sound financial management.
Annual General Meeting
Before the pandemic, members used to meet in person at the Annual General Assembly, which was hosted by alternating member countries of The Montreal Group. Having pivoted to virtual mode during the pandemic, it was determined that the AGM would continue to be held virtually each year on a fixed date at the end of March, starting in 2023.
Members will continue to meet in person at least once a year to discuss specific issues, visit leading organizations, and attend other international events of interest.
The Montreal Group Board of Directors
The Board of Directors is composed of one representative per member bank. Directors are appointed every year during the Annual General Meeting and act as the main point of contact between each member institution and the Secretariat.
For 2025-2026, the Board is composed of the following member representatives:
Isabelle Bébéar | Co-Chair
Director of International and European Affairs Bpifrance, France Isabelle Bébéar is Director of International and European Affairs at Bpifrance since 2001. She oversees the relations with European and international institutions and the partnerships with sovereign wealth funds and long-term investors. Ms. Bébéar accompanies foreign governments in the development of their entrepreneurial ecosystems and connects innovative companies with business opportunities and international investors. She also manages Averroès Africa, a fund of funds dedicated to investing in African companies. She is a director of Proparco (Agence Française de Développement Group) and a member of its Audit and Risk Committee. She is also Vice President of the Board of Directors of HDBI, the Hellenic Development Bank for Investments, President of the Board of Directors of the Euromed Capital association, and a director of the International Forum of Sovereign Wealth Funds (IFSWF). She was appointed co-chair of The Montreal Group in 2022.
Abdulaziz Al Zaid | Co-Chair
Advisor to CEO
Saudi Industrial Development Fund (SIDF), Saudi Arabia
Abdulaziz Al Zaid, Executive Committee Member and CEO Advisor represents the CEO of SIDF in several committees within the industrial ecosystem. He also represents SIDF in relevant international coordinating councils and manages SIDF memberships in international organizations and global development banks. Al Zaid’s experience extends to over 16 years. Most of his industrial experience in APICORP was in petrochemicals, refining, shipping, offshore oil services, upstream/field development, LNG liquefaction, fertilizers, crude oil refined products. He also led the efforts of SIDF to join and chair the D20 and obtain membership in the World Economic Forum. He joined SIDF in 2018 and was an important member in the transformation journey of the fund since then.
Al Zaid holds a Bachelor’s degree in Business Administration majoring in Finance from George Mason University in the United States, a Master’s degree from the School of Business at George Washington University in the United States, and finally received the Advanced Management Program for Executives from Columbia Business School in New York City.
Mr. Al Zaid was appointed Co-chair of The Montreal Group in 2025.
Hanna Alalääkkölä | Vice-Chair
Head of Business Development Operations
Finnvera, Finland
Hanna Alalääkkölä is Head of Business Development Operations at Finnvera Plc. She has been working in Finnvera since January 2011. Hanna is an experienced professional, with a track record in corporate finance, client management, and relationships with Finnvera’s regional key partners. Before Finnvera, she worked at OP Financial group for over five years, in different positions at corporate finance. Hanna has BBA degree in Business Management, and is currently finalizing her Master’s Degree of International Business Management (IMBA), at Lapland University of Applied Science. Hanna is a Certified Credit Analyst (CCA).
Ms. Hanna Alalääkkölä is Vice-Chair at The Montreal Group since 2025.
Ivan Cornejo | Treasurer
Director, International Financial Institutions
Nacional Financiera (NAFIN), Mexico
Iván Cornejo is Director, International Financial Institutions at NAFIN. He joined the Institution in 2008, and has worked at the Direction of International Financial Institutions since 2010 occupying different positions. Before becoming Director, Ivan was in charge of implementing priority programmes and projects that are in line with NAFIN’s mission, as well as identifying technical assistance needs that allow the exchange and adoption of international best practices among development banks.
He has experience in negotiating long-term credit lines with international institutions, and his work on the past years has been mainly focused on funding for renewable energy, energy efficiency, cogeneration and geothermal energy programmes.
Ivan also worked on NAFIN’s accreditation process as National Implementing Entity of the Green Climate Fund.
M. Cornejo is Treasurer at The Montreal Group since 2025.
Viviane Mol | Director
Head of Loans and Guarantees, Wallonie Entreprendre, Wallonia region in Belgium
Experienced financial executive with a strong background in SME financing, guarantees, and risk structuring. Viviane is currently Head of Loans and Guarantees at Wallonie Entreprendre with a team of 10 financial analysts, managing a portfolio of 5.500 clients and overseeing €161M in loans and €366M in guarantees on bank credits.
Previously,she held project management roles in the group, where she scaled financing operations, led strategic growth programs, and developed tools to support business transmission and expansion. Viviane is a Board member and former treasurer at AECM, the European association of guarantee institutions. She has experience in international advisory missions for Belgian Development Cooperation (Benin, Burkina Faso) and the negotiation of European funding instruments. Viviane began her career as an auditor at PwC, working with major industrial and financial clients.
She holds a degree in Commercial Engineering and is a certified statutory auditor. She is Director of The Montreal Group.
Andrea Montanino | Director
Chief Economist, Sector Strategy and Impact Director
CDP, Italy
Andrea Montanino is Chief Economist and Sector Strategy and Impact Director at Cassa Depositi e Prestiti. Previously, he worked in several international institutions: Executive Director and member of the Board of the International Monetary Fund, Director of the Economic Analysis Program of the Atlantic Council in Washington D.C., and Senior Economist at the European Commission’s Directorate-General for Economic and Financial Affairs.
In Italy, he was President of the Italian Investment Fund SGR, Director of the Confindustria Studies Center, General Manager of the Treasury Department at the Ministry of Economy and Finance and Head of the Technical Secretariat of Minister Padoa-Schioppa, Vice President of Mediocredito entrale – Banca del Mezzogiorno.
Mr. Montanino is Director at The Montreal Group.
Diane Lafontaine | Director
Chief Corporate Strategy and Stakeholder Engagement Officer, BDC, Canada
Diane Lafontaine was appointed Chief Corporate Strategy and Stakeholder Engagement Officer in April 2024. In this role, she is responsible for all facets of corporate strategy, public affairs and government relations. She is also responsible for BDC’s corporate planning and prioritization process. Diane has more than 25 years’ experience, half of which were spent in the financial sector. Prior to joining BDC, Diane was Vice President, Communications and Marketing, at the Fonds de solidarité FTQ, where she held a diverse portfolio of responsibilities that included marketing strategy and stakeholder relations.
Mrs. Diane Lafontaine is Director at The Montreal Group.
Paulo Roberto de Oliveira Araujo | Director
Head of the Investors and International Institutional Relations Department
Brazilian Development Bank, BNDES
Paulo Araujo currently serves as the Head of the Investors and International Institutional Relations Department at BNDES (The Brazilian Development Bank), where he coordinates institutional relations with international institutions, both private and governmental, and manages BNDES’ interaction with investors in both domestic and international markets. Before this role, Paulo held various strategic positions within BNDES, including serving as the Chief Representative Officer for BNDES Africa, where he led the strengthening of BNDES’ institutional relations with public and private entities, financial institutions, as well as governmental and multilateral entities located in the continent. He was also responsible for identifying international cooperation opportunities with commercial financial institutions and establishing technical cooperation for the exchange of experiences and information on structuring international operations. In his academic background, Paulo completed his Executive MBA at IBMEC/RJ and pursued a Graduate Course in Business and Economic Law at FGV/RJ. He also holds a bachelor’s degree in law from UERJ/RJ. Paulo is fluent in four languages: Portuguese, English, French, and Spanish.
Tony Okpanachi | Director
Managing Director / CEO
Development Bank of Nigeria Plc (DBN), Nigeria
Mr. Tony Okpanachi was appointed Managing Director/CEO of Development Bank of Nigeria Plc (DBN) in January 2017. He is a seasoned banker with over 30 years’ experience. Before his appointment as Managing Director/CEO of DBN, he was the Deputy Managing Director of Ecobank Nigeria Limited since April 2013. Prior to that, he was the Managing Director, Ecobank Kenya and Cluster Managing Director for East Africa (comprising Kenya, Uganda, Tanzania, Burundi, Rwanda, South Sudan and Ethiopia). He was also at various times Managing Director of Ecobank Malawi and Regional Coordinator for Lagos and South West of Ecobank Nigeria. Earlier in his professional career, he managed various portfolios including Treasury Management, Retail Business Development, Corporate Finance, Corporate Services, Branch Management and Relationship Management. Tony Okpanachi holds a Master degree in Business Administration (MBA) from Manchester Business School UK, a Master of Science degree in Economics from University of Lagos and a Bachelor of Science degree in Economics from Ahmadu Bello University, Zaria, Nigeria. He has attended several Executive Management Development Programmes on Leadership, Corporate Governance, Credit and Risk-Management in leading institutions.
Mr. Okpanachi is Director at The Montreal Group.
Sudatta Mandal | Director
Deputy Managing Director
Small Industries Development Bank of India (SIDBI), India
Shri Sudatta Mandal was appointed in May 2021 as the Deputy Managing Director of Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small & Medium Enterprises (MSMEs). The appointment is for a period of 3 years. Prior to this, Shri Mandal was the Chief General Manager of EXIM Bank.
Shri Mandal has professional experience of more than 25 years in international trade and investment finance, project finance, structured lending, Small and Medium Enterprises (SME) lending including cluster financing, and trade finance. He is a B-Tech. in Electrical Engineering from the Indian Institute of Technology, Kanpur, and holds a Post Graduate Diploma in Management with specialisation in Finance from the Indian Institute of Management, Calcutta.
M. Mandal is Director at The Montreal Group.
Said Jabrani | Director
Chief Executive Officer
Tamwilcom
Mr. Said Jabrani began his career in 2006 at the consulting firm Corporate Value Associates. Two years later, he joined Bank of Africa, where he held the position of Marketing Manager before being promoted in 2011 to Group Branch Director. In 2014, he joined BMCI, where he held various positions within the network before taking over its management in 2016. In 2020, he was appointed Director of Retail Banking and became a member of the Executive Committee. In September 2022, he joined the headquarters of the BNP Paribas Group in Paris, where he was responsible for overseeing Retail Banking activities in Africa. In March 2023, he joined Crédit du Maroc as a member of the Executive Board in charge of Commercial Banking. On May 12, 2025, Mr. Said Jabrani was appointed by His Majesty King Mohammed VI as head of the National Company for Enterprise Guarantee and Financing (Tamwilcom), during a Council of Ministers meeting.
Mr. Said Jabrani holds a degree from the École Centrale de Paris and a research master’s degree in Mechanics, Aeronautics, and Energy from the EM2C laboratory.
Mr. Jabrani is Director at The Montreal Group.
Kristen McLeod | Director
Chief Strategy Officer
British Business Bank
Kristen McLeod CBE is Chief Strategy Officer at the British Business Bank, where she is responsible for the Bank’s corporate strategy, policy development, impact analysis, sustainability, communications, marketing, and external engagement.
Kristen’s 19-year career in the civil service included senior roles in HM Treasury leading on growth, business and investment and leading the government’s Office for Life Sciences, overseeing policy on NHS innovation and life sciences industrial strategy across the Department for Business and Trade and the Department for Health and Social Care. She was awarded a CBE in 2021 for her services to life sciences.
Kristen is Director at The Montreal Group.
Ismini Papakirillou | Director
Chief Executive Officer
Hellenic Development Bank
Ismini Papakirillou is the Chief Executive Officer of Hellenic Development Bank, a position she holds since February 2024. Previously she worked for the European Investment Fund (EIF), part of the European Investment Bank Group, covering European Commission mandates across a range of different thematics. From 2010 to 2019 she worked for the International Finance Corporation (IFC), the private investing arm of the World Bank, handling direct investments across a range of financial instruments, sectors and geographies. Prior to IFC she worked for three years as a portfolio manager for Global Tactical Asset Allocation strategies at APG Investments, one of the largest institutional investors in Europe. She has also worked in Paris and Athens covering investments in industry and private equity.
She has degrees from the Massachusetts Institute of Technology (MIT) and the London School of Economics (LSE).
Mrs. Papakirillou is Director of The Montreal Group.
To be appointed | Director
Director
China Development Bank
Executive Committee
The Executive Committee is comprised of four representatives of the Board who work closely with the Secretariat and provide strategic advice on a variety of matters.
For 2025-2026, the elected representatives are:
