Christian Novak

Partner, FMA - Frontier Markets Advisors Inc.

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Christian has over 20 years of experience in emerging markets, having worked for JPMorgan, ING, Morgan Stanley and National Bank Financial Group, in their Credit Risk Management, Fixed Income, and Investment Management divisions. He also possesses over 10 years experience in microfinance, sustainable development projects, and impact investing.

At Morgan Stanley, he created and led a team that managed debt investments in microfinance institutions (MFIs). He also participated in ground breaking capital markets transactions that aggregated in U$250 million of investments in MFIs globally, played a key strategic role in the setting up of a microfinance local currency debt fund and developed an industry-recognized methodology for assessing the risks of MFIs.

Christian is a former member of the Advisory Board at and first social investor of FIS (now Emprenda), the leading MFI in Argentina, where he contributed to the creation of a strategic and creative social debt investment fund (recognized by Ashoka as one of the most creative ideas in 2000). Christian also developed one of Microsave’s most consulted training programs: Capital Structuring and Equity Valuation for MFIs. He is a member of the Loan Committee of ACEM, the leading community loan fund in Montreal. He co-founded and led 2 foundations in Argentina, Fundación Cruzada Argentina and Fundación Makro, respectively aimed at implementing sustainable development projects and fostering education, and he co-founded the Montreal Microfinance Club.

Christian has authored several papers and research reports, and he has been an active speaker in microfinance investments and in credit risk management globally. Christian graduated as a Public Accountant and holds a Bachelor’s degree in Business Administration from the Universidad Católica Argentina.