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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 expand.
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 ]