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eSecLending hires Bill Locke
23 January 2014
Fills new position to manage market and credit risk in the agent lender’s programmes
eSecLending has hired securities lending veteran Bill Locke
as head of market and credit risk management, a newly-created
Locke joins from the Federal Reserve Bank of Boston where he
was a financial services market specialist for two years.
At eSecLending he will be in charge of identifying, quantifying
and managing market and credit risk in eSecLending's securities
financing and cash management programmes.
"We are excited to have Bill [Locke] on board. His experience
in the securities financing industry and knowledge of capital
markets, balance sheet and collateral management will be
instrumental to eSecLending as we continue to develop new
products and further strengthen our ability to provide
customised programs to fit clients' individual risk
tolerances," said Peter Economou, chief risk officer and head
of corporate strategy.
He added: "Bill's [Locke] in-depth knowledge of impending
regulation will also help us to better execute trade
structures, investment opportunities, new markets and products
that will increase profitability for our clients."
Locke's expertise in market and credit risk will be an asset to
the firm as securities lending agents face future regulatory
hurdles such as higher capital requirements.
Locke previously worked in senior positions at Brown
Brothers Harriman and State Street Bank and Trust Company. He
was one of the ten founding partners of Premier Global
Securities Lending - an independent business that was set up in
2010 but failed to launch successfully. eSecLending's CEO
Craig Starble was also a founding partner, and CEO of