FSVC builds strong financial systems that enable developing and emerging market countries to realize economic opportunities and their citizens to achieve a better quality of life. FSVC is a not-for-profit, private-public partnership that carries out its mission by recruiting leading financial, legal and regulatory experts. These volunteers provide state-of-the-art technical assistance to the in-country partners and build personal bridges across international borders. FSVC’s targeted, results driven missions help develop central bank capabilities, strengthen commercial banking systems and build capital markets.
When financial systems are safe and secure, transparent and free of corruption, well-regulated and able to manage risk, businesses can grow and create jobs and citizens can reach their economic potential. Since FSVC’s inception, approximately 8,000 volunteers have carried out more than 2,200 missions, reaching almost 34,000 participants in over 50 countries.
FSVC was founded in 1990 by the late Cyrus Vance, former U.S. Secretary of State and John Whitehead, former Co-Chairman of Goldman Sachs and former U.S. Deputy Secretary of State, at U.S. Presidential request. FSVC's Board is currently chaired by Mr. Whitehead. Henrietta Holsman Fore, USAID's most recent Administrator and Director of Foreign Assistance was part of FSVC's founding group. Paul Volcker, former Chairman of the Board of Governors of the U.S. Federal Reserve System, serves as Honorary Chairman of the Board.
John Walker, Chairman of Richina Pacific Limited and a leading international lawyer, serves as the Vice Chairman of the Board. FSVC's President and CEO is Andrew Spindler.
FSVC’s demand-driven approach helps ensure that its work is highly relevant and valued by key reformers in the countries that seek its assistance. By recruiting currently employed professionals at the peak of their careers to serve as volunteers, FSVC is able to provide technical assistance that is objective, independent and state-of-the-art. In addition, recipients of FSVC’s assistance develop valuable professional relationships with volunteers and establish institutional linkages with sponsoring institutions. These linkages provide significant additional benefit to counterparts over the long term.
FSVC-arranged assistance is highly cost-effective: since 1990, FSVC has leveraged approximately $90 million in funding from the U.S. Agency for International Development and other sources to provide more than $210 million in technical assistance, principally through the donated services of volunteer experts.
Where is Financial Services Volunteer Corps (FSVC)