An overview of the Fund Governance Ecosystem in Luxembourg

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DELANO Michael

Mike is an assurance partner specializing in the asset management industry. He began his career at PricewaterhouseCoopers in Baltimore, Maryland where he worked for 8 years before transferring to the New York office in 2004. In 2007 Mike transferred to our office in Luxembourg.

His experience has focused on leading audit engagements across a number of worldwide companies, including a wide spectrum of investment funds - equities, fixed income, emerging markets, hedge funds, private equity funds, as well as corporate audits including banks, broker/dealers and investment advisors.

Since relocating in Luxembourg, Mike has spent a significant amount of time in the fund industry primarily covering US and UK promoters which included responsibilities for actively promoting Luxembourg in the US as well as the UK. He is leading our Blockchain/Crypto team in Lux which involves working with local and international players active in this space. He is also chairing the Institut Luxembourgeois des Administrateurs (ILA) Fund Committee and is a member of the ALFI Fund Governance Forum.


Graham Goodhew retired from the role of Director and Conducting Officer of JPMorgan Asset Management (Europe) sarl in 2016 after a career of more than 40 years in financial services.  With a background in Internal Audit and Risk Management Graham was instrumental in establishing Chase Institutional Asset Management in London in 1994 and at the time of the mergers with Flemings and JPMorgan in 2000/2001 was a director of the Chase asset management company. In 2001 he moved to Luxembourg to be Head of Risk Management for the European Retail business of JPMorgan Asset Management covering all aspects of the fund servicing and distribution of both Luxembourg SICAV and UK OEIC fund ranges and was a director of the Luxembourg Management Company from 2002 until his retirement. With the Implementation of UCITS III he moved to a new role of Head of Corporate Governance and was appointed as a Conducting Officer responsible for Portfolio Risk Management. Since then he has variously served as the Conducting Officer responsible for Fund Distribution and Investment Management.

Graham has been active in a number of industry working groups at CESR/ESMA, EFAMA, ILA and AFLI related to; UCITS, MiFID, PRIPS and Risk Management and various other issues. In retirement he remains active with ALFI and ILA and continues to live and work in Luxembourg as an independent director.

JONES William

William Jones is the founder of ManagementPlus Group which was established in 2006 and provides directorship and management company services from Luxembourg, Cayman Islands, Singapore, New York and Geneva. Mr. Jones has 24 years’ experience in the hedge fund industry and has held senior positions with Goldman Sachs Asset Management International and Bank of Bermuda/HSBC. He completed the first cohort of the INSEAD International Directors Program (“IIDP”) in 2011 and is a member of the IIDP Advisory Board and served as its first President. Mr. Jones has been certified as a director by IIDP and the Institut Luxembourgeois des Administrateurs (“ILA”). He sits on the 

Board of Directors of ILA and its Fund Governance Committee and co-chaired the Alternative Investment Task Force of ILA’s Fund Governance Committee which issued the “ILA Guide for Board Members in the Context of AIF and AIFM” in July 2014. He sits on multiple committees of ALFI, the Luxembourg fund industry association. He was co-vice chair of the Alternative Investment Management Association’s (“AIMA”) working group which issued “AIMA’s Fund Director Guide” in April 2015. He served on the Board of Governors of the International School of Luxembourg from 2011 to 2015 and was its Chairman during the 2014-15 school year.


Carlo Montagna is a Partner of The Directors’ Office, the leading practice of independent Directors in Luxembourg.

Carlo has 28 years international experience in the banking and financial industry. Over the course of his career he has worked as Head of Sales and International Development at EFA, Managing Director of Asset Services Sales at Bank of New York Mellon, General Manager of IMI Group and Trader at Banca Nazionale del Lavoro (now BNP Paribas). He has been member of various boards, including IMI Bank AG Frankfurt, IMI Global Sicav, Idea Management Company, IMI Real Estate, Crediinvest Sicav, Investcredit Sicav, Goldman Sachs Structured Investments Sicav. Carlo is Italian and attended the University of Pavia, Italy, Faculty of Economics.

During the course of his career Carlo Montagna built up an extensive knowledge of trading strategies and managed various portfolios; he developed front office as well as back office solutions, launched investment funds, managed small and big size companies. He is a skilled relationship director and people manager.