AFME divisions work with members, regulators, and policymakers to help develop a more sustainable and efficient financial industry.

Each division has a Board and/or Committee made up of members who guide its activities and take part in forums, working groups, and informal discussions to respond to regulatory reform proposals and develop best practices.

Download divisional structure chart.


The Accounting Division, headed by Richard Middleton, works with members on the development and implementation of International Financial Reporting Standards.


The Compliance Division, headed by Will Dennis, works with members to help develop open markets across the EU.

Corporate Finance

The Corporate Finance Division works with members on the commercial, legal, and regulatory aspects of mergers and acquisitions and the public issuance of securities.


The Credit Division works with members to help develop market policy and best practices for the corporate bond and loan markets.


The Equities Division, headed by April Day, works with members to help shape market structure and the policy environment.

Equities Capital Markets

The Equities Capital Markets division works to address the regional and cross-border issues of equity-raising transactions in Europe, the Middle East and emerging markets.


The Global FX Division, headed by James Kemp, works with members and our affiliates in the U.S. and Asia to help develop best practices and monitor policy and regulatory developments that could affect the FX markets.

High Yield

The High Yield Division, headed by Gary Simmons, works with members to promote transparency and liquidity in the high yield and leveraged loan markets.


The Post-Trade Division, headed by Dr Werner Frey, works with members to achieve harmonisation, standardisation, and consolidation across Europe through best practice and regulation.

Primary Dealers

The Primary Dealers Division works with members to monitor developments in policy and market structure that could affect the bonds markets. 

Prime Services

The Prime Services Division, headed by Gary Simmons, works with members to enhance understanding of the prime services business and constructively shape the policy environment.

Prudential Regulation

The Prudential Regulation Division, headed by Michael Lever, works with members on the issues relating to changes to the prudential regulatory framework.

Public Policy & Advocacy

The Public Policy & Advocacy Division, headed by Tanguy van de Werve, monitors legislative and regulatory proposals and developments and co-ordinates AFME's liaison with officials and other relevant parties.


The Securitisation Division, headed by Richard Hopkin, works with members on financial markets policy issues and the development of best practices.


The Tax Division, headed by Richard Middleton, works with members to analyse and communicate the impact of tax proposals.

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