Board Effectiveness - Short talks

Periodic open discussions to assist with robust board evaluations

The course registration is closed. Please contact the ILA team for support –


William Lockwood has been working in the financial services industry in Luxembourg since 1982.

He was appointed as a non-executive director to the Board of Franklin Templeton Investment Funds on December 1, 2014.

He is a Scottish Chartered Accountant and a Member of the Chartered Institute for Securities & Investment, London.

He has served as a director and international vice chairman of the Luxembourg Fund Industry Association (ALFI) and as a council member of the Institute of Chartered Accountants of Scotland.

He holds the INSEAD International Directors Programme Certificate in Corporate Governance (IDP-C) and is certified as a qualified Director by the Institut Luxembourgeois des Administrateurs (The Luxembourg Institute of Directors).


Yann Mérillou is an audit partner with over 12 years of experience in accounting and auditing. He is specialised in the audits of regulated investment funds and Management Companies, and has deep experience in auditing various types of UCITS and AIF structures, investing in a variety of assets from traditional shares and bonds to complex derivatives, structured products, private debt and efficient portfolio management techniques.

Yann’s experience in serving major asset managers in both the UCITS and alternative space has exposed him to a high diversity of products and strategies. In addition, Yann has developed strong relationships with and understanding of major Fund’s service provider through being involved in the audit of funds administered by RBC Investor Services Bank S.A., State Street Bank, Société Générale or Bank of New York Mellon. 

Yann actively contributes to Fund governance initiatives and participates in various working groups of the Institut des Administrateurs Luxembourgeois (“ILA”) (Audit Committee for funds and Board Organization and Effectiveness Committee), and is member of the Deloitte Luxembourg Investment Fund Task Force. 

Yann is also coordinating the Nordics initiative within Deloitte, which leads him to promote Luxembourg by organizing Investment Management conferences and events in the Scandinavian countries.

Internally, Yann has a quality control role in the firm and has performed peer engagement quality reviews in Luxembourg and in France. Yann is also leading technology initiative for the audit of funds and drives automation and on-going audit projects. He is finally member of the recruitment team. Yann is a Réviseur d’Entreprises Agréé and a member of the Institut des Réviseurs d’Entreprises (IRE).


Monique Bachner-Bout is an Independent Director and lawyer with broad governance, legal, technology and financial services expertise.  Monique sits on Boards of commercial companies, investment funds, and non-profits. Monique holds both law and economics degrees, and is an ILA Certified Director and INSEAD IDP-C.

Monique started her career as a Magic Circle corporate lawyer and now focuses on governance and innovation, and in particular their intersection with legal and regulatory frameworks. Monique is the author of various corporate governance and technology governance articles and guidance and is active in national and international working groups related to corporate governance, decentralisation, and automation/AI governance & ethics, and is a frequent speaker on these issues.


Henry Kelly is the Managing Director of the Luxembourg-based consultancy firm that he founded in 1999. His firm, KellyConsult Sàrl, is a licensed business advisory company (“société de conseil économique”) that provides services to the investment fund sector in Luxembourg and internationally. He was the Founding Chairman of the ALFI Fund Governance Forum from its establishment in 2011 until 2018 and serves on the Investment Funds Committee of the Luxembourg Institute of Directors (ILA). He was a member of the ALFI Executive Committee for ten years (1995 – 2005). He is a member of the European Fund and Asset Management Association (EFAMA) Corporate Governance Working Group and is a regular speaker at conferences on fund industry matters. He is an independent director of several investment funds and management companies.

From 1993 – 1999 he was a Managing Director of Flemings Luxembourg (now JP Morgan Asset Management). Prior to joining Flemings in 1993, Henry Kelly worked in the capital markets division of BNP Paribas for 5 years following 7 years’ experience with Price Waterhouse in Paris, Frankfurt and New York. He has a master’s degree in Modern Languages from Cambridge University and is a Member of the Institute of Chartered Accountants. In 2013 he obtained the INSEAD Certificate of Corporate Governance and qualified as an ILA certified director


Karen currently holds a portfolio of director roles in corporate and nonprofit entities. Her focus is on social and business transformation with emphasis on inclusiveness, diversity and sustainable development.  She is Chair of the ILA Board Organisation and  Effectiveness Committee and a member of the Board Composition Committee. She is involved in awareness and advocacy initiatives on human rights matters with Time for Equality asbl.  She is a curling enthusiast and is building the sport in Luxembourg but is also active at the World Curling Federation to review the structure and governance.  Karen is also the Luxembourg Honorary Consul for Canada and representative for the Canadian Chamber of Commerce.

Karen developed and honed her business and leadership skills as a professional and partner, with over 30 years of experience, at the global public accounting firm, EY. She has worked across geographies; Canada, Europe, Middle East, India and across service offerings and functional areas of the firm. She led a multidisciplinary team which consulted international groups on financial and tax matters on corporate cross-border transactions.  In her role of a global talent leader she has overseen and driven the adaptation and growth of global programs on Learning, Mobility and Coaching, and led the change management for a global business transformation project.

Karen is a Canadian Certified Professional Accountant and Luxembourg Reviseur d’ Entreprises, holds a Bachelor of Management degree and is a graduate of the Insead International Directors Program (IDP-C 2014).

LI John

John is a Partner of The Directors’ Office, the leading practice of independent Directors in Luxembourg since November 2011.

John trained and qualified as a Chartered accountant in the UK. He moved to Luxembourg in 1987. During the last 30 years John Li worked essentially in the Financial sector auditing and advising clients such as Banks, Investment Funds, Insurance companies, etc. Clients also were from Europe, US, Japan and Asia offering John an extensive experience in dealing with international companies. He now serves on the Board of a number of financial institutions, essentially investment funds.

John Li was a Partner at KPMG Luxembourg for more than 20 years during which he was Managing Partner for 8 years (2000-2008) before taking on the role of Chairman of the Supervisory Board for 3 years (2008-2011). He was also a member of the Leadership team of the Global Investment Management Practice in KPMG.  

John is a member of the Management Committee and Board of Directors of the Institut Luxembourgeois des Administrateurs (ILA).


20 Boulevard de Kockelsheuer
    L-1821 Luxembourg
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Date and Time

From 25/11/2019 16:30
To 25/11/2019 19:15

CPD Hours

1.5 hours


ILA - Institut Luxembourgeois des Administrateurs



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