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Capital Markets Advisory Committee (CMAC)

Capital Markets Advisory Committee


The IASB's Capital Markets Advisory Committee (CMAC) is a group of no more than 20 professional financial analysts who meet at least three times a year with members of the IASB to provide the views of professional investors on financial reporting issues.

It was originally called Analyst Representative Group (ARG) and was formed in 2003. It became the CMAC in August 2011. Starting in June 2007, the meetings with the group have been open to public observation.

Members of the CMAC

Co-Chair: Martijn Bos, Eumedion representative on the Dutch Accounting Standards Board

Co-Chair: Peter Malmqvist, Independent Financial Analyst

Other members:

  • Paulo Cezar Aragão, Partner, Barbosa, Mussnich & Aragão Advogados
  • Tanya Branwhite, Executive Director, Strategy, Research, Macquarie Securities Group
  • Jacques de Greling, Equity Analyst, Telecoms, Natixis Securities; Co-Chairman, Accounting Commission of Société Française des Analystes Financiers (SFAF)
  • Peter Elwin, Head of European Pensions, Valuation & Accounting Research, JP Morgan Cazenove
  • Jane Fuller, Chair, Accounting Advocacy Committee, CFA Society of the UK
  • Peter Joos, Equity Research, Executive Director, Global Head of Valuation and Accounting, Morgan Stanley
  • Dennis Jullens, Lecturer/Researcher at Rotterdam School of Management, Erasmus University Rotterdam
  • Goro Kumagai, Senior Fellow, Strategic Research Department, Mizuho Securities
  • Dan Mahoney, Director of Research, CFRA
  • Robert Morgan CFA, Forbes Morgan Consulting and Vice President, Finance, Pleio Health Support System
  • Mark Prentice CFA, Vice President, Fundamental Equities, State Street Global Advisors
  • Mitch Reznick CFA, Co-head, Hermes Credit, Hermes Fund Managers
  • Osman Sattar, Director, Accounting Specialist, EMEA Financial Institutions, Standard & Poor’s
  • Carlos Simas, Partner, Dynamo Capital LLP


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.