DTCC adds four new investment bank board members
DTCC announced that four new board members have joined its Board of Directors. The Board plays a critical role in setting the strategic direction of DTCC, working closely with the firm’s leadership and advising on topics including risk management, regulatory matters, the development of new products and services, emerging fintech and more.
The new Directors are Brian Gallagher of J.P. Morgan, Christopher Gelvin of UBS, Jon Herrick of the New York Stock Exchange and Igor Modlin of Goldman Sachs.
Brian Gallagher serves as global head of Markets Operations at J.P. Morgan. Gallagher leads a global team that is responsible for all aspects of operational support for the Markets Sales and Trading businesses. Gallagher has worked at J.P. Morgan for 23 years, holding various roles and leadership positions at the firm.
Christopher Gelvin serves as Group Operations and Technology Office (GOTO) chief operating officer at UBS. Gelvin is responsible for strategic planning and operating management for GOTO, data governance and the technology investment portfolio across the firm. He has been with UBS for nearly 20 years, holding several leadership roles in Operations and Technology.
Jon Herrick serves as chief product officer at the NYSE, a part of Intercontinental Exchange, where he is responsible for product development and innovation across all areas of the exchange business. In his role, he oversees the NYSE’s transactions and market data businesses, driving competitive strategy and distribution. Previously, Jon served as Head of Markets at the NYSE, overseeing the exchange’s equities and options businesses.
Igor Modlin serves as global head of Prime Services Product Development at Goldman Sachs, where he is responsible for
Prime Services’ front to back efforts. He is also a member of the US Client Assets Steering Committee. Modlin joined Goldman Sachs in 2005 and was named managing director in 2010 and partner in 2018.
“We are pleased to welcome Brian, Christopher, Jon and Igor to the Board of Directors,” said Kevin Kessinger, non-executive chair of DTCC’s board. “They bring extensive leadership skills, deep subject matter expertise and diverse experiences in financial services to the Board at a time when the industry is looking to DTCC for enhanced support. As our company takes on a larger role leading change through innovation, we look forward to their guidance, insights and contributions.”
Zekraus joins GLMX to lead securities lending business
GLMX announced that Bob Zekraus will lead global business development for the securities lending business. Based in New York, Zekraus brings more than 25 years of experience in capital markets across collateralized financing products including equity finance, securities lending & repo and prime brokerage businesses.
Throughout his career, he has held senior roles in New York and London. At Scotiabank, he was a member of the Board of Directors of Scotia Capital (USA)and head of Prime Services Client Capital Management and Funding. At Barclays, he was head of US Securities Lending Financing Sales and co-head of Secured Funding. Zekraus joins GLMX from Pirum, where he led geographic expansion and developed the commercial go-to-market strategy in the US and Canada as COO and head of the Americas.
Sal Giglio, president and chief revenue officer at GLMX, said in a statement: “Bob joining GLMX reinforces our continued commitment to building comprehensive securities lending trading technology to serve the industry’s increasing demands. With modern, fit-for-purpose securities lending technology and the best team in the industry, GLMX has on-boarded several of the largest securities lenders and borrowers with many others in the pipeline. Bob will make a significant impact in driving adoption across the industry.”
Zekraus said in a statement: “I’ve watched GLMX grow to be the leading dealer-to-client technology provider in front-end repo trading with a truly innovative solution. I’m looking forward to working with such a talented and passionate team to accelerate market adoption in securities lending and adjacent products across the financing value-chain. I’m thrilled to be able to leverage my market experience, product knowledge, and deep network to help propel GLMX into new areas and successes.”
GLMX CEO and co-founder, Glenn Havlicek, said in a statement: “GLMX is the dominant repo trade execution and management technology in the global marketplace. Now that we have established a significant footprint in securities lending, it is time to accelerate our sales and client management engagement. Bob’s credentials are impeccable and are perfect for this acceleration stage. He will be responsible for securities lending sales, business development and client engagement within Sal Giglio’s broader business team.”
FS-ISAC announces appointments to global BoD
The Financial Services Information Sharing and Analysis Center (FS-ISAC) announced its 2024 Board of Directors (BoD). Four new Directors and two incumbents have been named to join nine existing board directors. The Board oversees FS-ISAC’s global activity and coordinates with FS-ISAC’s Europe and UK Strategic Advisory board. Kris Fador, chief information security officer (CISO) for Bank of America, will serve as the Board’s chair.
The newly elected Directors are:
- Kristina Dorville, CISO, Truist Insurance Holdings
- Debbie Janeczek, chief security officer and technology executive, Swift
- Susan Koski, CISO and head of Enterprise Information Security, PNC
- Bethany Netzel, managing director for Operational Resilience and Global Security, CME Group
The two re-elected incumbents are:
- Kyle Davis, Cyber Fusion Center principal, Target Corporation
- Steve Sparkes, CISO, Scotiabank
“FS-ISAC’s work is critical in educating the financial services industry on the latest cybersecurity threats and developing best practices to ensure the trust of clients, customers, regulators, investors and other key stakeholders,” said Kris Fador, CISO for Bank of America, in a statement. “It’s a privilege to chair this important organization and have this elite group of top security experts join the FS-ISAC Board of Directors to help strengthen the security of the global financial system.”
“The financial services sector is extremely dynamic and FS-ISAC provides critical information and intelligence sharing that strengthens our collective practices and resilience,” said Netzel in a statement.
Elections took place during a critical year for the financial services industry, marked by rapidly evolving technology and rising geopolitical tension. The deep cybersecurity and resilience expertise of the Board will directly support FS-ISAC’s work in real-time information sharing, strategic incident response, and managing emerging risks.
“Through nearly a decade of working with FS-ISAC, I’ve seen first-hand the value of global information sharing in defending the sector from escalating cyber threats,” said Janeczek in a statement. “We must employ a multifaceted approach that encompasses technical solutions, strategic preparation, and industry collaboration to defend against the changing threat landscape. I look forward to continuing my service of protecting the financial sector in this capacity.”
“With the increased use of digital technology in the financial services industry, the work of FS-ISAC is paramount to protecting financial institutions and their clients against global cyber threats,” said Steve Sparkes, EVP, CISO and Enterprise Platforms at Scotiabank, in a statement.
“The complexity of the risks facing the financial sector continues to grow, and our Board of Directors ensures our work evolves in accordance with the needs of our member firms and the people they serve,” said Steven Silberstein, CEO at FS-ISAC, in a statement. “I welcome the new additions to the Board as we work together to reinforce trust in the global financial system.”
René van Vlerken to succeed Simone Huis in ‘t Veld as CEO of Euronext Amsterdam
Euronext announced that the Supervisory Board of Euronext N.V. has nominated René van Vlerken as CEO of Euronext Amsterdam and member of the Managing Board of Euronext N.V. The announcement follows Simone Huis in ‘t Veld’s decision to resign from her position as CEO of Euronext Amsterdam and member of the Managing Board of Euronext N.V. after five years, to pursue new projects.
René van Vlerken, who is currently head of Listing for the Netherlands, Germany and Central and Eastern Europe at Euronext, will become CEO of Euronext Amsterdam as of 1 September 2024. René van Vlerken joined Euronext Amsterdam in 2017 as Head of Business Development for Small & Mid-Caps, before becoming head of Listing in early 2018. Since 2018 he has also been a board member for Euronext Amsterdam. His experience before joining Euronext spans more than two decades through different commercial roles at ABN AMRO and Rabobank, in treasury and risk advisory, cash equities, equity capital markets and equity syndicates.
Stéphane Boujnah, CEO and chair of the Managing Board of Euronext N.V., said in a statement: “We are delighted to propose the appointment of René van Vlerken as the next CEO and Board Member for Amsterdam. With his extensive experience acting as both a local board member and as head of Listings, he has a great understanding of market dynamics and strong relationships with local stakeholders. This makes him very well-positioned to lead the teams of Euronext Amsterdam.
Ulf Noren to retire from SEB
Ulf Noren announced his retirement from SEB on Linked In after 20 years with the Swedish Bank, most recently in the role of Sub Custody Sales and Relationship Management.
“Nearly half of my working life has been with SEB. I am grateful for having had the chance to spend 2 decades in this dynamic and vibrant environment. Having been able to be a small part of some really great achievements together with you makes me warm at heart,” he wrote.
FIS has appointed Paul Besignano as the new leader of its securities lending vertical within the sales growth office capital markets team, according to Securities Finance Times. Previously, Besignano served as managing director and global head of lending at BMO Capital Markets, where he led all front office trading activity for the global securities lending business. During his 13-year tenure at BMO Capital Markets, and his time at Paloma Securities London, Besignano managed a supply and demand securities lending team within a global trading model.
SDC Jordan and KDPW SA Poland elected to the ANNA board
The Association of National Numbering Agencies, ANNA, a global association dedicated to the support of efficient capital markets through the use of widely embraced International Organisation for Standardisation (ISO) standards, announced that it has elected a new Board director, the Securities Depository Center (SDC) Jordan, represented by Sarah Tarawneh. It has also confirmed the re-election of KDPW SA, Poland, represented by Slawomir Zajac, to the board.
Sarah Tarawneh, will take a position on behalf of Jordan’s Securities Depository Center (SDC) where she is CEO. Sarah previously served on the ANNA board from 2018-2021. Slawomir Zajac is an existing director in the ANNA Management Body and has been active in the issuance of financial instrument identifiers for Polish Capital markets for over 25 years. ANNA passed thanks to the departing Claudio Garin, representative of DCV Asesorias y Servicios Chile, for his directorship over the last six years.
In addition, two partners, the India International Depository IFSC Ltd, India GIFT IFSC and Depósito Centralizado de Compensación y Liquidación de Valores – DECEVALE S.A, Ecuador were approved to transition to become full ANNA members. This brings the total number of ANNA full members to 103.
Sarah Tarawneh, ANNA’s new Director, said in a statement: “I am delighted to be elected as a member of ANNA´s Board and am eager to work with a distinguished team that is so dedicated to the development of global standards for financial instruments. I am excited to be involved in advancing ANNA’s activities as the individual and collective work of the NNAs is so important to ensuring the harmonization of data standards.”
Slawomir Zajac, ANNA’s re-elected Director said in a statement: “I am honoured to be re-elected to the ANNA board at a time when regulatory reporting, data governance and standards for existing and new products are rapidly evolving. I passionately believe that the issuance and maintenance of international codes and identifiers is foundational to supporting market transparency and security. With NNAs working collaboratively to continually evolve global financial standards, market interoperability and better data quality will be enabled. Better quality and greater availability of data means reduced business costs and operational risk for the market. And I think that everyone expects this as a pillar of market development in the future”.
Stephan Dreyer, MD ANNA, said in a statement: “With full membership now standing at 103, and with markets swiftly transforming and becoming more complex, ANNA is a global membership body of real significance to the financial industry. Active NNA participation is both valued and essential and I am always incredibly proud of our members who collectively bring their experiences and knowledge together to promote the development and understanding of global identifiers”.