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Isla reveals new board directors
12 February 2014
Four recognised securities lending industry participants are appointed to the trade association's board. Stephanie Baxter reports
The International Securities Lending Association (Isla) has
appointed four new directors to its board as the trade
organisation’s membership continues to
The appointments, which follow a recent election, include David
Raccat, head of global markets at BNP Paribas Securities
Services, Casey Whymark, co-head of securities lending and
financing at UBS, Roelof van der Struik, investment manager at
PGGM, and Arne Theia, managing director in UniCredit
Bank's corporate and investment banking division.
Kevin McNulty, CEO of Isla, said: "As the [Isla] membership
base continues to grow and diversify it is important that the
composition of the [Isla] board remains appropriately
representative. We are very pleased to have four new directors
who are all based outside of the UK, represent equity and fixed
income financing markets, and for the first time include a
direct representative of the beneficial owner community."
All four board directors are well-known figures in the
securities finance industry.
Raccat joined BNP Paribas in 1996 in product development,
covering tri-party collateral management, equity repo, and
implementation of securities lending in new markets. He has
been in charge of global markets since 2011, covering forex,
short-term interest rates, equity lending and agency lending,
with desks in Asia, Europe and US.
Whymark is in charge of the front-to back-operation, sales
& trading and development of UBS’ securities
lending programme offered to clients and third parties. His
role was expanded in 2012 to include the lending product
offered to clients in Hong Kong and Singapore. Whymark worked
in the prime services division at Credit Suisse in London
before joining UBS in 2004.
Van der Struik is an investment manager in PGGM’s
front office treasury department. He joined the firm in 1998
focusing on investments-related contracts and became a manger
in payments and settlements in 2001.
Theia is responsible for repo and collateral trading at
UniCredit Bank in Munich, focusing on rates, treasury and fixed
income. He is also a member of the advisory board of Eurex
Germany in Frankurt and LCH Clearnet in London.
Theia’s previous roles include head of short-term
rates UBS Investment Bank from 1994 to 1997.
The full list of Isla’s board members can be found
on the association’s website: [ http://www.isla.co.uk/index.php/the-board ]