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International Valuation Standards Council
News Update
4th April 2011
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Developing global valuation standards
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IVSC announces new Board members
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The International Valuation Standards Council (IVSC) has today announced three new appointments to its Technical Boards.
Paul Hawkes, Head of Group Valuation Governance at UBS in Zurich, and Marianna Todorova, Director in the Office of Professional Practice at Duff & Phelps, LLC in New York, join the International Valuation Professional Board (IVPB), while Ana Castañeda-Ortega, CEO of InterMoney Valora Consulting S.A. in Spain, joins the International Valuation Standards Board (IVSB).
Michel Prada, Chairman of the IVSC Board of Trustees, comments:
“The Trustees are committed to providing diversity of valuation specialism within the IVSC’s Boards. Both Paul and Ana will enhance the capacity of the IVSC to develop robust guidance for the field of valuation of financial instruments, an area that is the focus of much international attention as a result of the financial crisis. Marianna’s expertise in valuation for financial reporting will be particularly useful as the IVSC develops guidance for the valuation community to support the rigorous implementation of IFRS 13, Fair Value Measurement, due to be published in April.
“The ambition of the IVSC is clear – to provide standards and guidance that improve the quality and reliability of valuations globally and lead to greater confidence in the valuation process. I am delighted that three such eminent professionals are prepared to serve on the Boards to help realise that ambition.”
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Biographies of new Board members
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Paul Hawkes is Head of Group Valuation Governance at UBS, based in Zurich. Paul has previously held positions with USB as Head of Corporate Centre Valuations and Head of IB Consultancy/Accounting Policies. Prior to joining UBS in 2002, Paul was head of Accounting Policies Group (Europe) with JPMorgan, Chase and Co. Paul is a Chartered Accountant and a Chartered Management Accountant and holds a Masters Degree in Mathematics from Oxford University.
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Marianna Todorova is a Director in the Office of Professional Practice at Duff & Phelps, LLC in New York, where she contributes to the resolution of valuation technical issues in the context of financial reporting and participates in interactions with standard setters and other organizations. Marianna has served as a Valuation Fellow at the Financial Accounting Standards Board (FASB) in the U.S. and contributed to the development of FASB’s fair value measurement and business combinations guidance. Marianna holds a Bachelor of Science in Economics from The Wharton School of the University of Pennsylvania with concentrations in finance, accounting and multinational management, and is a Certified Public Accountant (inactive).
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Ana Castañeda-Ortega is CEO of InterMoney Valora Consulting S.A., Spain. She has over 12 years of experience in financial instruments valuation and risk management. Prior to InterMoney Valora Consulting S.A., Ana was Head of Projects and Products at BNP Paribas Securities Services in Spain. Ana started her professional career in academia where she held professorships at universities in Madrid, Barcelona and Florence. She has previously been a member of the European Economic Forum and holds a Ph.D. and Masters Degree in Economics from Carlos III University of Madrid.
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About the IVSC
The International Valuation Standards Council (IVSC) dates from the early 1980s and is established as the global standard setter for valuation. The IVSC is a not-for-profit organisation with a remit to act in the public interest that is funded by its members representing over fifty countries and by support from major international valuation providers and users. The Council is overseen by a Board of Trustees and has two technical boards, the Standards Board and Professional Board.
The Standards Board, chaired by Steven J Sherman, Chair of KPMG’s Global Valuations Committee, develops and promulgates the International Valuation Standards which are intended to set principles for undertaking valuations of all major asset types and for all common purposes. The Professional Board, chaired by Jean-Florent Rérolle, President, Viengi, France, acts as a focal point for the global valuation profession. It promotes ethical conduct and encourages best practice through the development of practice guides and technical information.
For more information please visit our website by clicking here.
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For further information on the IVSC please contact:
Marianne Tissier, Executive Director, IVSC
click here to email.
Tel: +44 (0)20 7374 5585
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