Governance Model

More than a fund company

Supervisory board


Board Member

Chief Customer Officer of Universal-Investment-Gesellschaft mbH, Managing Director


Board Member

Chief Financial Officer (CFO) of the Universal Investment Group


Johannes ELSNER
Board Member

Chief Operating and Transformation Officer Universal-Investment Group


Board Member

Deputy Chief Executive Officer, Member of the Executive Committee, Chief Operating Officer Spuerkeess

Management board



General Manager
Chairman of the Management Board

René Brisbois has more than 20 years of experience in the fund industry. He started his career at Deloitte and joined efa in 2000. Initially, René worked in project management and process improvement. Since 2011, he has held several leadership roles in operations management, covering areas such as securities databases & valuation, fund investment rules compliance, risk & performance reporting, regulatory reporting, operational readiness / client onboarding, middle-office operations, and transfer agency.

René holds a master's degree in finance, banking and insurance from the University of Liège. He speaks English and French.



Chief Commercial Officer
Member of the Management Board

Paulo Fernandes is Chief Commercial Officer and a member of the Management Board.

Paulo has responsibility for relationship management, business development, marketing and communications, product development, international projects, and strategic development.

With more than 17 years of experience in the fund industry, Paulo spent over 10 years in various operational leadership roles at efa before joining the commercial area to head relationship management.  

Paulo speaks Luxembourgish, English, French, German, and Portuguese. He holds a master’s degree in business administration from Sacred Heart University, Jack Welch College of Business.



Director - Private Asset Operations
Member of the Management Board

Fabrice Freilinger is Private Asset Operations Director and a member of the Management Board. 

Fabrice has 14 years of experience in private asset services in Luxembourg. 

Before joining efa, Fabrice held the position of Senior Manager of Consolidation & Accounting and Transfer Agency in the Private Equity & Real Estate department at Credit Suisse Fund Services Luxembourg. 

Fabrice previously worked at RBC Investor Services as Manager of Consolidation Accounting in the Private Equity & Real Estate department.

He started his career as an auditor of commercial companies at BDO Compagnie Fiduciaire.

Fabrice holds a master’s degree in economics from the Université Libre de Bruxelles. He speaks Luxembourgish, German, French, and English.



Director - Risk Management, Compliance and Legal
Member of the Management Board

Muriel URBAIN has more than 30 years of experience in the fund industry. She started her career at Deloitte Luxembourg.

Muriel joined efa in August 2000, where she worked in the Organization department until January 2007 as a senior project manager in charge of the management of various projects.

Since February 2007, Muriel took the responsibility of the risk management department.

Muriel acquired a wide range of skills in the cross-functional areas of the company's activities such as in the fund administration, transfer agency and domiciliation agent, for multiple types of investment vehicles. Muriel has also a large experience on the Professional of the Financial Sector: specialized PFS, support PFS, investment firms and a large experience in the regulation.

Muriel holds a bachelor in accounting and business management. She speaks French and English.