Speaker Bios

Brian Disken, Executive Director, Head of Treasury Product, DTCC

Brian Disken serves as Executive Director of Clearing & Securities Services at DTCC, where he is responsible for the Government Securities Division (GSD) of the firm’s Fixed Income Clearing Corporation (FICC). Brian joined DTCC in 2009 as the Director for Fixed Income Operations. Prior to DTCC, Brian spent three years at Countrywide Financial as Senior Vice President of Operations, responsible for clearance & settlement, cash management, reconciliations and MBS principal and interest processing and settlement. Before that, he spent 14 years at UBS where he served in a number of roles including as Director of Operations and Head of U.S. Government Operations, responsible for the full operational lifecycle supporting the U.S. government business. Brian is a subject matter expert in the U.S. Treasury market, with extensive knowledge in market structure and operations that supports the industry. Brian participates in several SIFMA committees and has contributed expertise to a number of TMPG working groups. Brian has a bachelor’s degree from St. John’s University and an Executive MBA from Pace University.

Charles Engle, Executive Director, J.P. Morgan

Charles leads Product Innovation for J.P. Morgan’s Collateral Services. With over 15 years of experience across collateral services, enterprise / firm-wide collateral strategy and innovation, and management consulting, Charles is focused on transforming the future of the collateral ecosystem providing unique solutions across collateral data & analytics, optimization, and mobilization.

Colleen Flynn, Managing Director, Repo & Money Markets, Tradeweb

Colleen Flynn is a Managing Director and Senior Product Manager in U.S. Institutional Repo and Money Markets for Tradeweb Markets Inc, a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. An experienced fixed income trading professional, Colleen works with buy-side and sell-side clients to develop and deliver electronic trading products for Repos, commercial paper, agency discount notes, and certificates of deposit. She is an avid mentor at Tradeweb, a member of the firm’s Global Women’s Network and an active supporter of Tuesday’s Children. Prior to joining Tradeweb, Colleen was a salesperson on the Repo and Money Market Fixed Income desk at Morgan Stanley where she focused on providing liquidity and funding to a wide range of institutional investors. Flynn holds her Series 63 and Series 7 licenses, and graduated from Florida State University with a Bachelor of Business Administration (B.B.A.).

Josh Galper, Managing Principal, Finadium

Josh Galper is the lead for Finadium’s research and consulting practice with an expertise in institutional investments, treasury and financing. Josh has conducted numerous consulting assignments for banks, asset holders, CCPs and technology companies, and is the author of over 60 industry reports as part of the Finadium research subscription. He also writes for Finadium’s online and hard copy magazine, Securities Finance Monitor. Josh has been quoted in most industry publications covering hedge funds, securities finance, collateral management and financial markets. He holds an MBA in Financial Engineering from the MIT Sloan School of Management.

Frank Gast, Member of the Management Board Eurex Repo, Eurex Group

Frank is a Managing Director and member of the Management board of Eurex Repo GmbH since 2013. In addition, he is the Head of Repo Business & Product Development at Eurex with particular focus on D2D markets. In his position Frank has a leading role in further integrating and developing the fixed income products at Eurex across Repo, OTC, listed and FX derivatives for both, trading and clearing. Frank joined EUREX Group in Zurich in 2009 with focus on the Swiss Franc Repo Market. Prior to this, he spent over 10 years in the Consulting business. He started his career with KPMG Consulting in Frankfurt advising exchanges, banks and start-up companies across Europe in the funding & financing business and later on gained further experience by spending three years of his career with BearingPoint Ireland in Dublin. Frank has about 25 years of experience in the financial services industry. Furthermore, Frank is a member of ICMA European Repo & Collateral Council (ERCC) since 2022 and a Member of the ICMA Regional Committee Germany since 2020. Frank holds a Masters degree in Business Administration from the University of Trier.

Glenn Havlicek, CEO & Co-Founder, GLMX

Glenn is a 22-year veteran of JP Morgan Chase where he served as Managing Director responsible for Global Liquidity Management and as Chair of the Liquidity Risk Committee. His responsibilities within the Global Treasury Division included oversight of all debt issuance for JP Morgan Chase and its subsidiaries; development and implementation of the Bank’s asset and liability management process; and establishment of the Bank’s liquidity risk policies. Glenn holds an AB/Economics from Dartmouth College.

Andrew Hennelly, Global Head of Portfolio Finance, DRW

Andrew is the Global Head of Portfolio Finance at DRW, where he helped centralize financing across the firm. He manages the repo trading team and sources balance sheet capacity to meet the needs of trading desks globally. Andrew focuses on optimizing liquidity, securities financing, and counterparty relationships to support DRW’s trading businesses. He previously worked at BlackRock on both the Equity Financing and Fixed Income Repo Trading teams, supporting the financing needs of BlackRock’s hedge funds. Before that, he was Vice President of Financing and Derivatives at EMF Financial Products, a fixed-income hedge fund, where he managed the firm’s financing activities. Andrew holds a Bachelor of Business Administration (B.B.A.) from Iona University.

Sue Hill, Head of Government Liquidity Group, Federated Hermes

Sue Hill is head of the Government Liquidity Group and is responsible for portfolio management and research of government liquidity portfolios. She has 35 years of investment experience. Before joining Federated Hermes’ investment research department in 1990, Sue worked as a research assistant at the US Treasury Department. She is the current leader of the Federated Hermes Women in Investing employee resource group and a current board and fi nance committee member of the CCAC Educational Foundation.
Sue earned her bachelor’s degree from University of Virginia and master’s degree from Carnegie Mellon University. She is a CFA® charterholder and a current member and former president of the CFA® Society of Pittsburgh.

Travis Keltner, Managing Director, Global Head of Secured Financing, State Street Markets

Travis Keltner is the global head of Secured Financing for State Street Global Market’s (SSGM) Funding and Collateral team.  This role includes product and trading oversight of all bank principal secured funding trading activities, with primary focus on the client activities related to sponsored member and peer-to-peer repo programs.  Travis also oversees proprietary funding, collateral optimization and analytics, as well as development and implementation of business strategies and trade structures. Travis previously played an integral management role as a member of State Street’s Treasury Liquidity Risk team, overseeing collateral management strategies and implementing liquidity requirements such as the Basel III Liquidity Coverage Ratio, parallel to driving the bank’s liquidity and funding and balance sheet strategy.  Prior to this, Travis worked in funding roles supporting Treasury’s function in Sydney, Australia, where he traded foreign exchange and managed the branch’s funding and liquidity position over three years. Travis started his career at State Street and has a Bachelor’s degree in Economics from Boston College.

Elisabeth Kirby, Managing Director, Head of Market Structure, Tradeweb

Elisabeth is a Managing Director at Tradeweb Markets and Head of U.S. Rates Strategy and Product Management focused on the development of the electronic trading business for U.S. Markets. She joined Tradeweb in 2011 as a Vice President, supporting market strategy and working on integrated solutions to build and bolster functionality across Tradeweb’s Rates platforms. She was an integral part of the Tradeweb team that helped develop and launch the firm’s leading swap execution facilities (SEFs), supporting electronic trading of derivatives as mandated by the Dodd-Frank Act. Kirby has a track record of developing innovative trading and workflow solutions, including Tradeweb’s market leading compression tool for derivatives. Prior to joining Tradeweb, she worked in the Capital Markets Structuring group at BNP Paribas. Kirby was recognized by the Markets Media Women in Finance Markets Choice Awards as a Rising Star in 2016 and for Excellence in Product Management in 2017, and she has served as a speaker at multiple industry events, including FIA EXPO, ISDA North America, the FIA-SIFMA Asset Management Derivatives Forum, and the Credit Suisse Global Trading Forum. Elisabeth holds a B.S. in Finance from Boston College and earned her M.S. in Accounting and Finance from the London School of Economics.

Laura Klimpel, Managing Director, Head of Fixed Income and Financing Solutions, DTCC

Laura Klimpel serves as Managing Director and Head of DTCC’s Fixed Income and Financing Solutions within the firm’s Clearing & Securities Services businesses. In her role, Laura oversees the firm’s Treasury, Mortgage-Backed Securities and Secured Funding products and services. Prior to her current role, Laura has held various business and legal positions within the DTCC complex, including acting as General Counsel for New York Portfolio Clearing, LLC (NYPC). Before that, Laura spent three years at Cleary Gottlieb Steen & Hamilton LLP, focusing primarily on US commodities and derivatives regulation. Laura received her B.A. degree, summa cum laude, from Truman State University in 1999 and her J.D. degree, cum laude, from Cornell University in 2007. She is a member of the New York Bar. Laura is also a member of the Treasury Market Practices Group (TPMG).

Liz Kuit, Chief Operating Officer, Central Funding Group, RBC Capital Markets

Liz Kuit is the Chief Operating Officer of the Central Funding Group (“CFG”) at RBC Capital Markets LLC.   Liz joined RBC in 2002.  Prior to joining CFG in 2016 Liz was a trader in the Global Arbitrage and Trading division of RBC, on the Index Arbitrage desk.  CFG is a global securities financing platform, providing repo and securities lending services to clients, and servicing firm needs for secured funding.  In her current role Liz is a member of the CFG Operating Committee and responsibilities include financial resource allocation, strategy and new business development, liquidity management, IT planning and acting as the primary liaison between the business and functional partners throughout the firm.  Liz attended Barnard College, Columbia University where she received a BA in Economics.

Ted Leveroni, Managing Director, Global Head of Margin Services, BNY Markets

Ted Leveroni is a Managing Director and the Global Head of Margin Services for BNY Markets. BNY Margin Services provides collateral and margin services including collateral segregation and collateral optimization services to both the buy and the sell side. He works closely with the industry impacted by global collateral and margin related regulation and drives the BNY existing collateral and margin capabilities to evolve beyond the regulatory margin requirements. Prior to joining BNY, Ted was Chief Commercial Officer of DTCC-Euroclear GlobalCollateral Ltd. where he was responsible for the coordination and execution of the commercialization of the derivatives and financing collateral solutions offered by the joint venture. Prior to that role he was Executive Director of Derivative Strategy and External Relations at Omgeo where he drove the company’s derivatives business strategy. Ted has led a number of industry association committees and working groups, including co-chairing SIFMA AMG’s Collateral Committee and SIFMA AMG’s TMPG Working Group. He is also a member of a number of ISDA, SIFMA, and ISITC committees. He holds a Masters of Business Administration from Boston College Carroll School of Management, a Juris Doctor degree from the University of Connecticut School of Law and a Bachelor of Arts in Economics from Fairfield University.

Shiv Rao, Chairman, Sunthay

Mr. Rao has more than 20 years of experience in financial services. He began his career in finance in 2001 at Lehman Brothers, where he initially structured asset-backed and mortgage-backed transactions, with a particular focus on innovative short-term funding structures. In 2008, Mr. Rao moved to a structuring role in Lehman’s Prime Services division, comprised of the prime brokerage and fixed income finance (repo) business. Mr. Rao joined Barclays when it acquired Lehman’s U.S. assets following the firm’s bankruptcy. At Barclays he continued to create innovative structures, including Agented Repo, a structure that allows banks to guarantee repo trades without acting as principals. Mr. Rao was most recently at Wells Fargo Securities.

Vikash Rughani, Head of Product Design for Trade Processing & Lifecycle, OSTTRA

Vikash Rughani is Head of Product Design for Trade Processing & Lifecycle at OSTTRA – a leader in financial markets post-trade. He joined OSTTRA in August 2008 and has helped develop pioneering capital and margin optimisation services spanning Rates & Credit asset classes and both non-cleared and cleared ecosystems. Vikash now plays a leading role in defining and executing upon OSTTRA’s product strategy. Prior to OSTTRA, Mr. Rughani worked at Bank of Scotland Treasury in the Market Risk team, after spending over 2 years in the Rates Risk Projects team at LCH.Clearnet, building robust default management processes for RepoClear & SwapClear as well as launching RepoClear’s GC products. Mr. Rughani started in the industry in 2003 as a Government Bond Futures trader. He holds a BA in International Finance and Capital Market Studies from the University of Brighton and an MSc in International Securities, Investment and Banking from the ICMA Centre at the University of Reading, UK.

Nate Wuerffel, Head of Market Structure, BNY

Nate Wuerffel is the Head of Market Structure at BNY. In this role, he is responsible for BNY’s continued leadership in all aspects of market structure, including public-private efforts to improve financial market resiliency, navigating market structure changes, and working with central counterparty clearinghouses. Nate was previously the Head of Domestic Markets at the Federal Reserve Bank of New York where he was responsible for carrying out monetary policy operations in the Treasury, agency MBS and money markets, including the implementation of a range of large-scale asset purchase programs, repo operations and balance sheet actions aimed at fostering U.S. economic growth and financial market functioning. Mr. Wuerffel has led a variety of efforts to strengthen the U.S. Treasury market, developed the NY Fed’s annual conference on the evolution of the market, and oversaw the Treasury Market Practices Group (TMPG). Mr. Wuerffel led the New York Fed’s efforts to support the transition away from USD LIBOR and was responsible for the Alternative Reference Rate Committee (ARRC), sponsored by the Federal Reserve. His public remarks cover topics such as government securities market structure and the LIBOR transition. Mr. Wuerffel holds a bachelor’s degree from Valparaiso University and a master’s degree from University of Chicago.