Steering continuity: Governance in times of change

Satu Huber, Chair of the EMMI's Board of Directors

Following her reappointment as Chair of EMMI’s Board of Directors, Satu Huber shares her perspective on the role of governance in supporting continuity through periods of change. 

Having spent more than four decades working in financial markets, from banking in the early 1980s to leading Finland’s funding and debt management activities, Satu Huber has witnessed significant changes in markets, institutions and regulatory frameworks. 

Throughout her career, one conviction has remained unchanged: governance is about more than structures, processes and formal responsibilities. It is about creating the conditions for informed decisions, constructive dialogue and continuity in times of change. 

The human side of governance 

For Satu, effective governance starts with people. 

The relationship between the Board and management plays a central role in ensuring continuity and supporting EMMI's long-term objectives. 

“Key for trust and continuity lies in the good cooperation between the Board and the management,” she explains. “Without openness and transparent discussions within the Board and, equally importantly, between the Board, its Chair and management, it would have been difficult for EMMI to develop and become what it is today.” 

This principle extends beyond the Board itself. EMMI brings together a wide range of committees, experts and stakeholders, each contributing different expertise and experience. 

“Collaboration, coordination and cooperation are important at all levels and between all stakeholders and committees,” says Satu. 

For her, one of EMMI's strengths lies in its ability to bring these contributions together while maintaining a clear sense of direction and purpose. 

Supporting change 

The past four years have been a period of significant development for EMMI. 

During Satu’s tenure as Chair, the organisation introduced Efterm, completed a major evolution of the Euribor methodology, established the European Money Markets Expert Committee (EMMEC), developed new market transparency initiatives and continued strengthening its governance and operational resilience. 

While these developments addressed different needs, they shared a common objective: ensuring that EMMI can continue to evolve while maintaining high standards and stakeholder confidence. 

“Each period has demanded different priorities and different areas of focus,” says Satu. “In recent years, we have had the opportunity not only to further develop our benchmarks and activities, but also to continue strengthening our governance in many different ways.” 

Alongside these developments, EMMI continued to enhance its Board processes, reporting practices and governance arrangements, helping EMMI remain effective in a changing environment. 

Looking ahead 

Looking back on a career spent close to financial markets, Satu sees governance as a continuous process of adaptation and improvement. 

Markets evolve, organisations grow and priorities change. Yet the principles that support effective governance remain remarkably consistent. 

“I am a great believer in transparency, accountability and dialogue, as well as cooperation,” she says. “All of these are key to the trust EMMI has built among its stakeholders over the years.” 

Her reappointment reflects a continued commitment to these principles and to EMMI's mission of serving the money market through trusted benchmarks and market initiatives. 

For Satu, governance may rely on structures and processes, but its success ultimately depends on the quality of the people, discussions and decisions that bring them to life.