GLOBAL – FMO, the Dutch entrepreneurial bank, has announced the appointment of Michael Jongeneel as the bank’s chief executive officer (CEO). He will officially take office on September 1, replacing Linda Broekhuizen.

“Michael has a very compelling background which will undoubtedly be valuable for FMO. He brings extensive, relevant experience both stemming from his time at Triodos and through his work with financial services companies all over the world,” Dirk Jan van den Berg, Chairman of the Supervisory Board of FMO, said.

“He appreciates the dynamics of impact investing and the stakeholder field related to it, and – living carbon- neutral himself – shares FMO’s determination to contribute to a better world. We feel that he will bring the right expertise at the right moment for the next chapter at FMO.”

Prior to this role, Michael Jongeneel was Global Head of Sustainable Finance at international consultancy Bain & Company.

As such, the newly promoted has helped transform banks and insurers towards the inclusion of sustainability in their core businesses. He has also developed impact investing strategies and innovative solutions in sustainable finance.

“I believe in the possibilities and power of finance for a better future. Throughout my career, this has been a guiding principle,” Michael commented on his appointment.

“It is crucial to realize this sustainable future, particularly in and for emerging markets; I’m especially passionate about this having spent my early childhood on Sulawesi, Indonesia. FMO is a frontrunner in impact investing, and I feel privileged and excited to assume a leading role in this purposeful organization.”

Michael succeeds FMO’s current CEO a.i. Linda Broekhuizen who will round off her career at FMO. In her 20+ years at FMO, Linda made a significant contribution to FMO’s current success. She joined FMO’s Management Board in 2014 as Chief Investment Officer.

Linda founded the Agribusiness, Food & Water team; she was an important driver of FMO’s sustainability and Environmental, Social & Governance (ESG) approach, which, today, is seen as leading in impact investing.

“After 21 years the time has come for me to pursue other opportunities outside FMO. I have thoroughly enjoyed my time with this exceptional organization, and it has been a privilege to have partnered with so many inspiring entrepreneurs all over the world,” Linda said.  

“I am grateful to have been able to be part of this journey and, at the same time, after more than two decades I am also excited to stretch my wings beyond FMO. I’m confident that I am leaving the organization in inspiring and capable hands and will of course continue to follow FMO’s ventures.”

Huib-Jan de Ruijter, currently Chief Investment Officer a.i. (October 2020) has been appointed Chief Investment Officer. Since 2015, Huib-Jan was Director Financial Institutions, responsible for the sector department which works closely with banks, microfinance institutions, and FinTechs to advance access to finance for entrepreneurs.

He started within FMO as Investment Officer in the Financial Markets department in 2008 and was promoted to Director of this department in 2011, taking responsibility for FMO’s treasury as well as loan syndications.

Before joining FMO, he was an Executive Director in the Financing Group of Goldman Sachs based in London. He started his career at ABN AMRO.

FMO also announces the reappointments of Management Board member Fatoumata (Fatou) Bouaré as FMO’s Chief Risk & Finance Officer (CRFO) and Koos Timmermans as Supervisory Board member.

Fatou joined the Management Board in October 2017 after former positions of Director Risk Management Head at the Bank of Africa Group and Deputy Chief Executive Officer of Bank of Africa Benin.

Koos was appointed as a member of FMO’s Supervisory Board in 2017 and has extensive banking experience in various senior leadership roles, mostly at ING (1996).