ARC Ltd Board of Directors

Mr Dele Babade, Chairman of the Board of DirectorsDele Babade

Dele Babade is chairman of the Finance and Investment Committee of the ARC Ltd Board, a position he took on when he joined ARC Ltd in September 2015.

Mr Babade has worked in the financial services sector for over 25 years and currently serves as CEO and founder of AfriCapital, a Pan-African corporate finance and financial advisory firm which he set up in 2007. He has also served as Group Executive/CEO of Ecobank Capital, the Investment Banking, Treasury and Capital markets entity of African banking group Ecobank Transnational.

Before that, Mr Babade led Citigroup’s Corporate Finance and Investment Banking Division for Sub-Sahara Africa and held senior positions at HSBC Group/Samuel Montagu Merchant Bank and Nomura International in London, leading major M&A and capital raising deals for blue chip corporates.

Mr Babade obtained a Masters degree in Corporate and Commercial Laws from University College London and was called to the Nigerian Bar in 1987 and to the Bar of England and Wales in 1991.

Dr Richard Wilcox, Finance and Investment CommitteeRichard Wilcox

Dr Richard Wilcox has been a Board Member of ARC Ltd since September 2015 and is currently part of the Finance and Investment Committee.

Dr Wilcox led the establishment and capitalisation of ARC Ltd and was interim Director General of ARC Agency from 2013 until September 2015. He has held senior positions at the UN for almost two decades before ARC including as UN Representative in Serbia for the Kosovo transition negotiations in 2008 and UN Political Director in Iraq in 2007. Dr Wilcox pioneered sovereign disaster insurance in Africa through a drought insurance project in Ethiopia in 2005 with the UN World Food Programme. He was director of UN Affairs of the US National Security Council in the Clinton administration 1999-2000.

A German and US national, Dr Wilcox holds a PhD from MIT.

Mr Hans-Peter Gerhardt, Chair of Underwriting & Reinsurance CommitteeHans Peter Gerhardt

Hans-Peter Gerhardt chairs the Underwriting and Reinsurance Committee of the ARC Ltd Board and has been a Board Member since 2013.

Mr Gerhardt has over 30 years’ experience in the reinsurance market serving in multiple senior management positions. He is currently group CEO of ACR Capital Holdings and CEO of its subsidiary Asia Capital Re. He was previously CEO of AXA Re which later became Paris Re before its acquisition by Partner Re in 2009. Mr Gerhardt has also held senior management positions at Cologne Re and Berkshire Hathaway’s General Re.

He currently serves on a number of boards in the global reinsurance industry.

Mr Vincent Rague, Underwriting & Reinsurance Committee and Audit CommitteeVincent Ragne

Vincent Rague currently serves as a Board Member of ARC Ltd which he joined in September 2015. He sits on both the Underwriting & Reinsurance as well as Audit Committees.

Mr Rague is currently co-founder of a private equity fund manager in Kenya, Catalyst Principal Partners. He has over 25 years’ experience in advisory services, investments, project and corporate finance and banking in Latin America, Africa, Europe and Asia. Mr Rague previously worked for the International Finance Corporation including as Chief Investment Officer and Global Head of Real Estate investments. Prior to joining the World Bank Group, Mr Rague worked at the Ministry of Finance and the Central Bank of Kenya.

He sits on a number of boards including Kenya Airways and Group Five as well as being a member of the International Advisory Board of global insurer Ace.

Mr Rague holds an MBA from Darden Business School, University of Virginia.

Mr Wise Chigudu, Underwriting & Reinsurance Committee and Audit CommitteeWise Chigudu

Wise Chigudu sits on the Underwriting and Reinsurance Committee and Audit Committee of the ARC Ltd Board and has been a Board Member since the company was created in 2012.

He is currently a consulting actuary at his own UK-based firm Impi Risk Solutions. Previously Mr Chigudu was head of risk management and interim director of ceded reinsurance for (re)insurance carrier Argo International in London. Before that he was group reinsurance actuary and capital modelling specialist at Ace European Group.

Mr Chigudu is a Fellow of the UK Institute and Faculty of Actuaries and holds an MBA from Oxford University.