Ligia Torres Fentanes
EURONET WORLDWIDEAbout Ligia Torres Fentanes
Independent Class II Director at Euronet Worldwide (EEFT), age 70, serving since December 2022 with term expiring in 2026. Former CEO, Asia Pacific, at BNP Paribas Asset Management (2013–2021), with 30+ years across capital markets, wealth and asset management spanning Latin America, Asia, Europe, Middle East and Africa. Education: B.S. Business Administration (ITAM, Mexico); postgraduate in International Finance & Derivatives (HEC Paris; University of Paris Dauphine IX); Oxford Corporate Sustainability Leadership program; Financial Times NED program; fluent in English, Spanish, French, Italian .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BNP Paribas Asset Management | CEO, Asia Pacific; previously led Emerging Markets | 2013–2021 | Governance and risk framework strengthening; growth strategy execution |
| BNP Paribas Group (various divisions) | Senior roles across capital markets and asset/wealth management | ~20 years | Multi-region operational leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Alfred Berg AM (Norway) | Non‑Executive Director | Current | Asset management board oversight |
| RAM (Mediobanca Group) | Board Chair | Current | Alternative asset management governance |
| Institut Louis Pasteur (U.K.) | Non‑Executive Director | Current | Non‑profit governance |
| Union de Banque Privée (UBP), Switzerland | Director | Disclosed in 2024 proxy | Financial institution board role (prior disclosure) |
Board Governance
- Independence: Board determined all non‑employee directors, including Torres, are independent under Nasdaq rules .
- Committee assignments: Member of Audit, Compensation, and Nominating & Corporate Governance committees; not a chair .
- Financial expertise: Designated “audit committee financial expert” by the Board .
- Attendance: Each director attended at least 75% of Board and committee meetings in 2024; Board met 4 times, committee meetings: Audit (4), Compensation (4), Nominating (3) .
- Lead Independent Director: Thomas A. McDonnell appointed February 2025; leads executive sessions and agenda approvals .
Committee Assignments
| Committee | Role | Meetings in 2024 |
|---|---|---|
| Audit | Member; Financial Expert | 4 |
| Compensation | Member | 4 |
| Nominating & Corporate Governance | Member | 3 |
Fixed Compensation
| Year | Cash Retainer ($) | Equity Award (Grant-Date $) | Chair/Lead Fees ($) | Total ($) | Notes |
|---|---|---|---|---|---|
| 2024 | 100,000 | 160,000 | 0 (not a chair) | 260,000 | Director stock awards vest immediately; 2024 grant-date price $115.27 (May 16, 2024) |
- Standard director leadership fees: Lead Independent Director $30k; Audit Chair $25k; Compensation Chair $20k; Nominating Chair $15k (not applicable to Torres) .
Performance Compensation
- No performance‑based components for non‑management director pay; equity grants vest immediately on grant .
Other Directorships & Interlocks
- Compensation Committee Interlocks: None; committee members (including Torres) were not officers/employees; no relationships requiring Item 404 disclosure .
- Shared directorships/conflicts: Board evaluated affiliations and found no conflicts impairing independence; directors recuse when deliberations involve affiliated organizations .
Expertise & Qualifications
- Cross‑regional leadership and strategy execution in asset management; governance and risk control contributions emphasized by the Board .
- Formal training in sustainability leadership and corporate governance; multilingual capability .
- Audit committee financial expertise designation .
Equity Ownership
| Date (Record) | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Mar 17, 2025 | 5,192 | <1% | Includes any options/RSUs vesting within 60 days of record date per methodology |
| Mar 18, 2024 | 2,555 | <1% | Prior year disclosure |
- Stock ownership guidelines: Non‑executive directors have a 5x cash retainer guideline after a five‑year compliance period; current position listed for Torres: 5x cash retainer, indicating strong alignment (though guideline applicability is noted as “Not applicable” due to compliance timing) .
- Hedging/pledging: Company prohibits hedging and pledging absent approval; as of Dec 31, 2024, only the CEO had shares pledged; no pledges disclosed for Torres .
Governance Assessment
- Strengths: Triple-committee membership; audit financial expert designation; independence affirmed; attendance threshold met; early achievement of stock ownership multiple indicates alignment with shareholders .
- Potential risks/red flags: None disclosed specific to Torres. Company’s related-party aircraft lease involves the CEO and was ratified by Audit Committee; no indication of Torres’ involvement . Section 16 filings: no late filings attributed to Torres (late items involved other directors in 2024/2025) .
- Board refreshment trend: Ongoing refresh reducing average tenure and maintaining diversity of experience; supports board effectiveness context .
Overall, Torres presents as a well‑qualified, independent director with deep asset management experience, broad geographic perspective, and strong governance credentials, with no evident conflicts or attendance/performance concerns based on current disclosures .