Our people

Client engagements are led by senior advisors who are former senior executives of financial institutions, international organisations, multinational corporations, large accountancy firms and consultancies.

Throughout our client engagements, these senior advisors take a hands-on role, which is significantly more intensive than the consulting industry standard. They are backed by an experienced analyst team.

Stilpon Nestor
Managing Director and Senior Advisor
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Stilpon is the founder of Nestor Advisors. In his role as Managing Director and Senior Advisor, he has advised the boards of some of the largest companies and financial institutions in the EU and emerging markets in Europe, Asia and the Middle-East across a variety of sectors, as well as IFIs including the World Bank/IFC, the EBRD and FMO.

Until March 2002, Stilpon was the Head of the Corporate Affairs Division at the OECD, leading the team which produced the global corporate governance benchmark, the OECD Principles of Corporate Governance.

Stilpon is a non-executive director of the Arabian Construction Company, one of the largest contractors in the Gulf. He was a director and member of the risk committee of the European Investment Bank in Luxembourg (2009-2013), a member of the EU Commission’s Advisory Board on Company Law and Corporate Governance (2007-2011) and a member of the board of the International Corporate Governance Network (2004-2007).

A regular public speaker on governance, Stilpon has participated in events organized by, among others, the Institute of International Finance, the European Securities Market Authority and the UK Financial Services Authority. He was the principal drafter of the Hellenic Corporate Governance Code and, from 2012 to 2016, was a member of the Hellenic Corporate Governance Council which oversees its implementation.

Stilpon has a legal background and practiced corporate law early in his career. He holds an LL.B from the University of Thessaloniki Law School and an LL.M from Harvard Law School (1983).

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Gemma Aiolfi
Special Advisor, Compliance and Anti-Corruption
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Gemma Aiolfi is a special advisor at Nestor Advisors focusing on compliance and anti-corruption.

She has been the Head of Compliance, Corporate Governance and Collective Action at the Basel Institute on Governance since July 2013.

Prior to that Gemma was Legal Counsel to the Integrity Department and the internal Office of Special Investigations at ABB AG in Oerlikon Zurich, focusing on advising on internal corruption allegations in connection with the US Deferred Prosecution Agreement. She was Global Head of Anti-Corruption at UBS AG in Zurich, and also worked in the Group Money Laundering Prevention Unit. Whilst employed by the OECD’s Working Group on Bribery in International Business Transactions she was seconded to work at the University of Basel, where she helped to establish the Basel Institute on Governance and worked with the Chairman of the OECD Working Group, Prof. Mark Pieth.

Gemma also served as an advisor to the UN Independent Inquiry Commission on the Iraq Oil-for-Food Programme. Having studied Law at the London School of Economics, she was called to the bar of England and Wales and practised in London before relocating to Switzerland. Postgraduate law studies were undertaken at Basel and Stockholm Universities. She is a member of the board of Ethics and Compliance Switzerland and an external council adviser to the board of Graña y Montero, Peru.

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Chris Barrett
Senior Advisor
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Chris joined Nestor Advisors as a senior advisor in 2012. He has broad experience, leading engagements in the banking, insurance, shipping and education sectors.

He specialises in risk governance in the financial services sector and has a long-standing interest in the risk and governance challenges facing financial services companies operating in emerging markets. He is currently advising an established insurer in the United Arab Emirates and a new entrant to the Russian insurance market.

Until December 2011 Chris was a partner with PwC responsible for the Financial Services Advisory practice in the 29 countries of Central and Eastern Europe, based first in Moscow and then in Prague. His clients included leading local and international banks and insurers as well as IFIs such as the EBRD and World Bank. His work ranged from strategy and operations to governance, risk and compliance. He helped local clients develop governance structures which would meet the expectations of international investors and supported international groups as they adapted their policies, procedures and systems to the specifics of the local regulatory environment.

Before he moved to Moscow in 2004 Chris built PwC’s successful Forensic Services practice in Paris, where he specialised in operational risk work for financial institutions and corporates and the investigation of fraud and other irregularities. Previously Chris spent nearly 20 years (10 as managing director) with WBK International, a specialist risk management consultancy working with financial lines underwriters in London and around the world. Before that he worked as an insurance broker in London and as a broker and underwriter in the Middle East.

Chris is a graduate of Cambridge University and holds a MBA from Kingston University. He is a native English speaker and also speaks fluent French, good German and intermediate Russian. Chris is a frequent speaker at insurance and risk management conferences and is a regular contributor to 'Finance' magazine in Moscow.

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Jorge Fabre
Senior Advisor
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Jorge Fabre has been Provost and Academic Vice Chancellor of Anahuac University in Mexico since 2015. Prior to this he was the Dean of Anahuac del Sur University's Business School, a position he held since 1996. He founded the Mexican Center for Excellence in Corporate Governance in 2003, an organisation that trains board members and top executives in corporate governance, and rates ESG practices of all the listed companies in Mexico to integrate the IPC Sustentable index of the Mexican Stock Exchange since 2012.

Jorge is a Professor of management and governance. He is co-author of the 2006 book “La Institucionalización de la Empresa: Casos de Éxito en Gobierno Corporativo”, published by the Global Corporate Governance Forum and the Center for International Private Enterprise.

He is managing partner of Governance Capital, where he has advised financial market authorities, ministries, institutes of directors, family offices and more than one hundred companies and non-profit organisations in Mexico and abroad.

He serves as independent director in the following boards: Punto Casa de Bolsa (where he also chairs the Audit Committee), Productos Medix (where he also chairs the Compensations Committee), Oxal, Grupo El Arca, and On Ventures Venture Capital Fund. He served as a member of the Advisory Boards of the Millstein Center for Global Markets and Corporate Ownership at Columbia University and also on the Millstein Center for Corporate Governance at Yale University. He is Chairman of the Editorial Committee at Editorial LID México. He is a mentor for entrepreneurs at Endeavor.

He holds a B.Sc. in Industrial Engineering with honorary achievement and an MBA from Anahuac del Sur University.

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Daniel Genberg
Special Advisor, Not-For Profit
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Daniel is a special advisor at Nestor Advisors focusing on the sector of not-for-profit organisations.

Daniel is an experienced professional in the area of governance of not-for-profit organisations. He has worked at senior levels in a number of international organisations (IPPF, ActionAid International, Amnesty International), and has in addition undertaken numerous assignments as an independent consultant.

Since 2002, Daniel had various positions with the International Planned Parenthood Federation and became Head of Governance and Accreditation in 2005 where he oversaw an internal accreditation system that was rolled out with member associations in over 150 countries. In 2012 he joined ActionAid International where he in 2013 became head of the international governance unit with responsibilities for the global governance and the process for integrating new member organisations into the federated structures. In 2015 Daniel joined Amnesty International as director of governance with responsibility for the global governance arrangement.

While in these positions Daniel carried out both small and large scale governance reforms, introduced new approaches to governance and capacity building, and conducted a number of reviews and assessments. He has a rare overview of the approaches and set up of governance in many international not-for-profit organisations.

Between 2009 and 2012 he worked as an independent consultant and carried out governance reviews, organizational assessments and evaluations in a number of different contexts around the world. He was also delivering training and capacity building modules on programme monitoring and evaluation.

A Swedish national, Daniel works in many languages and is a social anthropologist by training. As well working with Nestor Advisors, Daniel is currently an independent consultant based in Brussels.

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Chris Hodge
Special Advisor, CG Policy
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Chris is a special advisor at Nestor Advisors focusing on corporate governance policies and disclosure systems.

Chris is an experienced policy-maker who has worked at the highest levels with business, investors, regulators, governments and international organisations, and has written and presented extensively on the topics of governance and stewardship.

For ten years until 2014 Chris was Director of Corporate Governance at the UK’s Financial Reporting Council. He was responsible for developing and promoting the UK Corporate Governance Code, one of the earliest and most influential codes for companies. The practices that he introduced include board effectiveness reviews and public reporting on the management of significant risks. He was also responsible for introducing the first national stewardship code for investors in the UK in 2010.

More recently Chris was the FRC’s Strategy Director from 2014 until January 2016. He was responsible for developing the FRC’s overall strategy and plan for 2016-19 and for overseeing its external communications, public affairs and international influencing activities.

In his time at the FRC, Chris contributed to a number of UK government and other reviews, such as the Walker Review of the governance of banks and other financial institutions, and was secretary to the Pre-Emption Group. He established, and chaired for eight years until 2015, the European Corporate Governance Codes Network which shares information and good practice among the bodies responsible for codes in 28 European countries. In this capacity Chris provided advice to the European Commission and ESMA, and in his personal capacity he has advised bodies such as the OECD and EBRD.

As well working with Nestor Advisors, Chris is currently an advisor to ICSA: The Governance Institute and Vice-Chair of the Hellenic Corporate Governance Council. He is an Honorary Life Fellow of the Institute of Risk Management.

Chris began his career in the UK Civil Service, where his various positions included responsibility for deregulation, competition policy and liaison with the EU. Chris has a BA (Hons) in Philosophy from the University of Essex.

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Xenia Kazoli
Special Advisor, Legal Affairs
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Xenia is a special advisor at Nestor Advisors focusing on regulatory reform and corporate governance.

Xenia is an experienced international lawyer, admitted to the bars of New York Paris and Athens. She has completed large and complex transactions in multinational environments, advised the governments of Greece, Italy, France, Spain and Portugal in privatisations and offering, as well as advised clients on EU financial regulations and corporate governance.

Until 2015 Xenia was a counsel at Allen & Overy LLP, where she spent 15 years specializing in international debt and equity offerings and advising on privatisations and cross border transactions. Prior to this was, she was practicing with Skadden Arps LLP in their Paris and London offices in the international capital markets team.

Xenia has also worked with the World Bank, conducting legal assessment, policy and regulatory reform and advising on judicial capacity building in Peru, Argentina, El Salvador and Venezuela, and more recently as an expert with the European Union in Georgia providing technical assistance and training to government officials on negotiation and drafting of international contracts.

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George Kyriakos
Special Advisor, CG & Privatization
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George Kyriakos is a special advisor at Nestor Advisors focusing on corporate governance and privatization.

George has 30 years of Greek and international experience in senior level managerial positions, in the private, public and banking sectors. His main expertise is privatization, corporate governance, and corporate restructuring, both financial and operational, while he has been regularly working to improve corporate governance practices. Mr.Kyriakos has hands on experience across a broad spectrum of large, midsized and small companies, with the companies he has worked for having demonstrated solid financial growth.

Between 2010 and 2012, he was Special Secretary for State Owned Companies and Privatization at the Greek Ministry of Finance. He was responsible for supervising 170 state-owned enterprises in all sectors of the Greek economy, with a total 36.000 employees.

He has been a Former Bureau member at the OECD working group for State Owned Enterprises and enterprises focusing on sharing best practices and formulating strategy on SOES, corporate governance principles, and privatization.

He speaks Greek, English and French.

Education: INSEAD (1994); MBA, Boston University Brussels (1987).

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Mike Lubrano
Senior Advisor, Board Training
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Mike Lubrano is a recognized expert and advisor on corporate governance in emerging markets. He has worked with Nestor Advisors in the fields of corporate governance training and development since 2011. Mike has counselled commercial companies, financial institutions, investors, ministries, regulators and stock exchanges on governance matters, and conducted detailed assessments of the governance of financial and commercial institutions worldwide. Mike teaches and conducts workshops on corporate governance in emerging markets. He has lectured at Harvard, Georgetown, Johns Hopkins, New York University, Erasmus and other universities and professional schools.

In addition to his role at Nestor Advisors, Mike serves as Managing Director for Corporate Governance at Cartica Management, an emerging markets fund manager with more than US$2.5 billion under management.

Until December 2007, Mike was the founder and manager of the Corporate Governance Unit of the International Finance Corporation. Under his direction, the unit developed the IFC Corporate Governance Methodology, which is used by IFC and most other international development finance institutions to assess the quality of governance of potential investee companies and to identify opportunities to add value by improving their boards, control environment, transparency and disclosure practices and treatment of financial stakeholders. From 2000 to 2003, Mike advised the São Paulo Stock Exchange on the formation of Novo Mercado, Brazil’s special listing segment for better-governed firms. He was also a member of the team that drafted Chile’s reform of tender offer and corporate governance legislation (1997-2001).

In 2001, Mike, along with Stilpon Nestor, co-founded the Latin America Corporate Governance Roundtable, which brings together public and private sector players from within and outside the region to discuss strategies for advancing the legal/regulatory framework, voluntary practices and private infrastructure for corporate governance in Latin America.

From 1987 to 1994, Mike was an associate at Cleary, Gottlieb, Steen & Hamilton, where his practice focused on assisting issuers and underwriters in the public offering of American Depositary Receipts of Latin American companies. Mike holds a BA from Harvard College, a JD from New York University and an MPA from the Woodrow Wilson School, Princeton University.

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Emmanuel Maurice
Senior Advisor
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Emmanuel is a senior advisor with Nestor Advisors focusing on governance, policy and international institutions.

Emmanuel’s career has been in the practice of law in an international context and in banking for developmental and transitional purposes. He has acquired a vast body of experience in structuring, documenting and negotiating project finance transactions and cross-borders investments in a large number of jurisdictions and sectors. In addition, he has a thorough knowledge of the policies, procedures and practices of international financial institutions (IFIs), and an ability to analyse, benchmark and assess the institutional, legal and management issues they aim to resolve.

Emmanuel joined the European Bank for Reconstruction and Development (EBRD), the London-based IFI, at its creation in 1991. Promoted to General Counsel in 1998, he was a member of the bank’s Executive Committee and its chief legal officer, providing legal, institutional and policy advice to its officers and governance bodies. As head of the Legal Department, he directed and oversaw the legal handling of the bank’s loans and investments in favour of project finance entities and financial intermediaries in Central Europe, Russia and the CIS, and countries of the Mediterranean, including Egypt, Morocco and Turkey. After retiring from the EBRD in 2014, he was appointed interim General Counsel of the International Fund for Agricultural Development (FIDA), an IFI and a specialised agency of the United Nations based in Rome.

Prior to EBRD, Emmanuel worked as transaction lawyer at the International Finance Corporation (IFC), the private sector arm of the World Bank Group, working on project finance, foreign investment and privatisation operations in various countries, including Côte d’Ivoire, Gabon, Mexico and Tunisia. He started his career in the New York and Paris offices of Willkie Farr and Gallagher, an international law firm, working on numerous acquisitions and investments, as well as legal frameworks and transactions consistent with Islamic finance principles.

Emmanuel is a graduate from the Paris Institute of Political Sciences and has law degrees from the universities of Paris I, Paris II and Stanford. Emmanuel speaks French and English.

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Peter Tropper
Senior Advisor
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Peter Tropper is a renowned expert in emerging markets private equity with 30 years of investment and advisory experience in 110 countries in over 200 funds. His guidance is regularly sought by fund managers, institutional investors, and policymakers in this rapidly growing asset class.

Peter advises fund managers and institutional investors on private equity fund formation and governance issues. He is former chair of the Emerging Markets Private Equity Association’s Frontier Markets Council and sits on several PE advisory committees. He teaches at Wharton MBA School and is a frequent speaker at industry conferences.

In January 2014, Peter left the International Finance Corporation (IFC) as Chief Investment Officer in IFC's Private Equity Group, which had commitments of more than $3.5 billion in over 180 private equity funds plus investments in two dozen fund managers, all dedicated exclusively to emerging markets. At IFC, he worked on more than 200 funds and served as IFC’s representative on the advisory committees of numerous private equity funds. In his last role at IFC, Peter was the global lead for funds that invest in small and medium enterprises, and set up and ran the SME Ventures program for funds that invest in small enterprises in frontier markets.

Peter also served as the first head of IFC’s Emerging Markets Data Base unit, which has since been sold to Standard & Poor’s. The EMDB is a comprehensive data base that provides detailed statistics on stock markets in developing countries. A commercial service, it includes information on more than 2,000 stocks in 45 developing countries.

He has a BA from Yale University, an MBA from the University of Maryland, and a Master’s in International Affairs from the Johns Hopkins University School of Advanced International Studies.

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David Risser
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David, an economist, is the head of the analyst team at Nestor Advisors that focuses on risk and controls and is responsible for our director development programmes. He has been involved with the provision of internal audit, board training services, governance and board evaluation to the firm’s clients. David has considerable experience in engaging with international financial institutions, not-for-profit organizations and corporations in Europe, the Middle East and Africa. He became a director of the firm in 2015.

Prior to joining Nestor Advisors in 2003, David established and managed the Economic Studies Department of RSM Salustro Reydel (now KPMG), in its Prague offices (1998-2002). From 1999 to 2003, he was an assistant professor at the EM Lyon (Lyon School of Management) in the Finance and Systems Team, a lecturer at University Lumière of Lyon and researcher at GATE-CNRS (French National Centre for Scientific Research).

David is a non-executive board member and Treasurer of Amnesty International CZ, and a member of the Governance Advisory Committee of the Accion Center for Financial Inclusion, the Professional Risk Managers’ International Associations (PRMIA), and the Institute of Internal Audit (IIA). He lectures on governance and risk for the International Finance Corporation (IFC), the Institute of International Finance (IIF), the London Stock Exchange Academy, Charles University and various institutes of directors. David holds a post-graduate diploma in Banking, Finance and International Economics, with Honours magna cum laude from EM Lyon and University Lumière of Lyon, and a Certification in Risk Management Assurance (CRMA). In addition to his mother tongue, French, David speaks fluent English and Czech, and intermediate Spanish and German.

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