Ryan Carlsen is an experienced chartered accountant and Vice President in Operations Risk & Regulatory Control at Morgan Stanley in Glasgow.  He is the regime lead at Morgan Stanley for SFTR reporting and manages other transaction reporting functions including EMIR client delegated reporting. He has been with Morgan Stanley for 13 years, with previous roles in financing and collateral ops risk, securities lending accounting and compensation control. Ryan has co-chaired the ISLA SFTR Regulatory working group since 2024.

Duncan Carpenter is a director of product management at Pirum and has led multiple product initiatives covering pre- and post-trade automation and regulatory reporting.

Duncan joined Pirum in March 2013 having worked previously in securities finance roles at eSecLending.

Duncan represents Pirum on a number of industry working groups, including the UK T+1 Accelerated Settlement Taskforce, and is considered a market expert on Securities Finance Transaction Reporting (SFTR).

Based in London, James joined Clearstream in 2014 and is currently Global Head of Business Development across Collateral Management, Securities Lending & Liquidity Solutions. He is responsible for the monitoring of related market developments and trends, strategic initiatives and the expansion of Clearstream’s CLLS client franchise. James has previously worked for the Royal Bank of Scotland in Collateral Management and Rates Sales. In his early career, he worked for Citigroup’s Prime Brokerage. He holds a BA (hon) in History from the University of the West of England, Bristol, as well as various project management and finance qualifications (CFA institute & CISI).

Paul is responsible for Northern Trust’s Securities Finance Operations group globally. This group supports Northern Trust’s securities lending program and repo trading. The group also supports custody clients running their own lending programs. The functions covered by the group include trade support and settlement, collateral management, corporate actions and income, and management reporting.

Prior to joining Northern Trust, Paul worked in the Financial Services group at EY.

Paul has a Physics degree from Bristol University and is a Chartered Accountant.

Alessandro Cozzani is a Managing Director and Head of Asset Optimization Group (AOG) for EMEA and APAC at Bank of America. He is globally responsible for collateral trading and
funding for the Equity Division.

Alessandro leads the team responsible for funding the Equity Division as well as managing its balance sheet, capital and liquidity usage across legal entities. AOG focus on regulatory changes and requirements for the individual Lines of Business (LoB), acting as the central point of contact with Treasury and CFO Risk. Alessandro also works with Finance to implement asset and RWA targets and limits for the Equity Division. Alessandro manages and trades all these functions as a central hub, providing pricing to each LoB for their financing requirements and optimizing the Division’s inventory.

Prior to joining Bank of America in 2013, Alessandro spent 3 years at Citigroup where he headed the Americas Equity Funding Desk. Before that, Alessandro was with Morgan Stanley where he began his career working in the Equity Finance Desk.

Alessandro holds a MEng from Imperial College London. He is Deputy Chair of the International Securities Lending Association (ISLA). He is also a member of the Bank of England’s UK Money Markets Code Sub-Committee.

Claire joined the Securities Lending desk at Bank of America in 2007. During her time at the firm, Claire has been an active member of the trading team covering EMEA, Emerging and MENA markets. Her role also focusses on adapting the business in line with regulatory changes and requirements and trade positioning to optimise Financial Resources.

Prior to joining Bank of America, Claire spent 3 years at Morgan Stanley where she began her career in Securities Lending via the graduate program. Claire holds and MSc in Management Science from the University of Warwick.

Adrian joined ISLA in January 2019 as Head of Regulation & Markets group. In this role, he manages the associations work on regulation, technology, and market practices of the EMEA Securities Lending markets.

Adrian has over 30 years of experience in financial services including diverse roles in product development, business analysis, IT development, trading, and operations at BNP Paribas, Barclays and BNY Mellon. Prior to joining ISLA Adrian was head of product development for SFTR at IHS Market.

Andy joined ISLA in 2013 and took over as Chief Executive in mid-2016. As well as leading our advocacy efforts with policymakers and regulators, he is also responsible for defining the aims and objectives of the Association and ensuring that we meet the needs and requirements of our member firms across Europe, Middle East & Africa. He regularly participates in panel discussions at conferences and events, representing the interests of the industry and advocating the importance of securities lending to the efficient functioning of the broader capital markets.

Prior to joining ISLA, he held senior product and account management roles across the securities finance industry including Deutsche Bank, HSBC, Prudential M&G and IHS Markit (formerly Data Explorers).

Before joining the world of capital markets, Andy worked in commercial and corporate finance banking including aerospace finance.

Andrew Geggus is the Global Head of Agency Lending, Triparty Services and MFS UK at BNP Paribas, based in London. He has responsibility for the growth and strategic direction of the global agency lending and triparty businesses with a presence in EMEA, APAC and the US. Andrew additionally has responsibility for the remaining Market and Financing business lines within the UK & Middle East; Foreign Exchange, Financing and Principal Lending (FCS). 

Matt is a Director and the EMEA Head of Agency Securities Lending Trading at Citi.  Matt started with Citi in 1998 in Operations covering FX, Fixed Income and Equities before joining the Fixed Income Finance desk in 2003. He progressed from trading assistant to sales trader covering both lending and hedge fund relationships. He crossed products in 2009 to join the Equity Securities Finance desk and was responsible for managing the supply team for the Prime Finance business from 2014 until he moved across to his current role in Agency Securities Lending in September 2019.

Graham is EMEA Head of Tri-party Collateral Services at J.P. Morgan, based in London and responsible for Product and Relationship Management. His role includes strategy, working closely with sales and product development to deliver client solutions and evolve J.P. Morgan Tri-party Collateral Management. Graham has developed market knowledge and product expertise through roles in both buy and sell side firms, within Securities Finance, Derivatives Collateral management and Structured Finance. Over 25 years financial services experience in front, middle and back-office functions at J.P. Morgan, Credit Suisse, BNY and Henderson Global Investors.

Jan Grauls is a Product Manager for Euroclear’s collateral management services looking after product development and strategy, a role he has held since 2014.

Jan is responsible for a broad range of strategic initiatives and projects enhancing Euroclear’s services including collateral optimisation, inventory management and the mobilisation of collateral for monetary policy operations.

Jan joined Euroclear’s collateral operations in 2008 and has over 15 years’ experience working on collateral and securities financing in various roles.

Jan holds a Master’s degree in Applied Economics from the University of Louvain-la-Neuve, in Belgium.

Danny Green is the International Head of Post-Trade Processing Solutions at Broadridge, responsible for the firm’s leading multi-asset solution that provides processing for equities, fixed income, derivatives and money markets.

Tony joined ISLA in September 2023 as a Regulatory & Markets Consultant, and in April 2024 Tony accepted a permanent position at ISLA as Director of Market Practice.

Based in London, and working closely with a cross-section of industry stakeholders, Tony is focused on supporting the continuous alignment and further development of ISLA Best Practices. This considers, amongst other things, aspects such as legal frameworks and constructs, digital and technology, market operating models, peer associations’ standards, as well as regulatory impacts (including T+1).

Tony brings with him over 30 years of financial markets experience working in senior operational roles across the buy and sell side. Prior to joining ISLA, Tony was most recently the SFTR SME at MUFG Securities EMEA Plc.

Bertrand joined FleishmanHillard Brussels in 2010, where he advises many clients across several regulatory and reputational issues arising from Europe’s financial services, digital and macro-political agendas. Between 2004 and 2010, Bertrand ran European Public Affairs for the Association for Financial Markets in Europe (AFME) in London. Between 1995 and 2004, Bertrand worked as a capital markets transactional lawyer at Bankers Trust, then Deutsche Bank, in London and Paris. Bertrand started his career as a UK solicitor with the international law firm Linklaters in 1992. He holds a Master Degree in English and French Law (Honors) from King’s College, London, and Panthéon Sorbonne University, Paris.

Sami brings over 10 years of experience across Securities Financing/Stock Loan and Transaction Reporting Regulatory Operations. He joined Clear Street UK in 2024 to build and lead the Cross Asset Financing Middle Office/Ops team, after spending 9+ years at Macquarie.

Chris is the Head of Operations for the Liquidity and Financing platform at BNY, overseeing service delivery groups that support the Securities Lending programme, Prime Services, Short Term Investments, and Deposits Enablement.

Based in Manchester, UK, Chris also serves as a member of the Location Council, responsible for shaping the site’s strategy for the 2,000-strong workforce.

Ciarán is Chief Legal & Product Officer at Tokenovate, helping to build the next generation of decentralised FMI. He previously served as Assistant General Counsel at ISDA, where he led industry-wide standardisation initiatives and published key documentation on digital assets and smart contracts. Ciarán is an active member of several industry groups, and serves as chair of the FINOS CDM Tokenized Assets Working Group. Earlier in his career, Ciarán worked at Deutsche Bank, Morgan Stanley, and Allen & Overy. In 2025, he was named one of the UK’s Hot 100 lawyers and named on the 2025 ‘Growth List’ by The Lawyer magazine.

Patrick joined HSBC Securities Services in 2020 and is currently Global Head of Product for Liquidity Services with responsibility for the strategic development and growth of the product suite.  Patrick has over 25 years’ experience within the Securities Finance Industry and held senior roles, both front office and back office,  within Treasury and Collateral management in several large Investment banks. Patrick holds a Masters of Business Administration (MBA) from City University London.

Kieran is the Global Head of Credit Financing Operations at Morgan Stanley where he is responsible for the end-to-end post trade lifecycle of bond borrow and repo trades for credit and emerging market sovereign debt. Prior to this, Kieran lead the EMEA Equity and Fixed Income Securities Financing Middle Office from 2018 to 2022 and the EMEA Security Settlements team at Morgan Stanley from 2016 to 2018. His teams are responsible for the full trade lifecycle of stock loan and repo trades, including onboarding, trade booking and settlement, exposure management, billing, contract compare and transaction reporting.

Prior to joining Morgan Stanley and relocating to the UK, Kieran lived in Australia where he held a number of different roles in Investment Operations within Wealth Management and Margin Lending.

Dr. Jakub Michalik joined Euronext in June 2025 as Chief Policy Officer and Member of the Executive Committee. Mr. Michalik leads group’s public policy strategy and engagement with policymakers and regulators across financial markets, energy and technology sectors.

Prior to joining Euronext Mr. Michalik served for 11 years at the European Securities and Markets Authority (ESMA), most recently as Head of International, Institutional Affairs and Communications, leading ESMA’s policy and stakeholder engagement on European and global levels.  From 2011 to 2014, Mr. Michalik served as a Parliamentary Adviser to MEP Wolf Klinz on the Committee on Economic and Monetary Affairs (ECON) of the European Parliament.  Earlier in his career, Mr Michalik worked on financial regulatory matters for an international banking group, an asset management company, and a law firm.

Mr. Michalik earned his PhD in Law from University of Vienna and his Magister in Law from University of Graz, and holds the professional qualification as a solicitor. He is a frequent conference speaker, regular university lecturer, and active researcher in the area of banking and capital markets regulation.

Since 2018, Barney has been is CEO and founder of the ValueExchange – a global market research house that specialises in helping to make the case for meaningful transformation in the world’s capital markets.

Working with an international team of experts, Barney’s attention is focused on delivering actionable, statistical insights on key market dynamics in post-trade processing. With an emphasis on digitisation, clearing, settlements and asset servicing innovation, the ValueExchange aims to empower changemakers and to help them make the case for their own transformation.

Prior to the ValueExchange, Barney worked for over 20 years in the post-trade capital markets space. Until 2018, he led Standard Chartered Bank’s custody business in Asia and prior to that he launched BNP Paribas’ custody business in Asia.

Mike Norwood is the Product Manager of EquiLend Trading Solutions. Norwood is responsible for determining and delivering the product roadmap, vision and strategy for EquiLend’s trading solutions, including NGT, Swaptimization and the ECS Loan Market, as well as managing a team of business analysts and product strategists. Before becoming Product Manager of Trading Solutions, Norwood led EquiLend’s Post-Trade Solutions team in North America. Prior to joining EquiLend, he spent 12 years at Brown Brothers Harriman, where he was Head of Securities Lending Product Development and Business Technology. He has a B.A. in Economics from the College of the Holy Cross.

Andy Orr is the Head of EMEA & APAC Trading in Securities Lending at BlackRock. Mr. Orr’s career in securities lending began in 2006, when he joined Barclays Global Investors as a systems developer in securities lending technology. After a short tenure building and developing lending systems, he transitioned into trading. Mr. Orr assumed his first leadership role at BlackRock in 2015, taking responsibility for the EMEA trading team. He has since expanded his role to oversee cross-product securities lending trading across EMEA and APAC.

Neelam is a senior Design and Transformation expert at Goldman Sachs, where she drives strategic decisions within post-trade workflows and platforms across Securities Lending and Repo. She collaborates with business stakeholders, software engineers, vendors, and market practitioners to deliver strategic target operating model recommendations, high-quality design, and functional solutions. With over a decade of industry experience, including prior roles in Consultancy and Product Development, Neelam brings wide-ranging expertise. She also serves as a co-chair on the ISLA Best Practice Working Group and provides insightful perspectives on the key drivers and constraints amongst the borrower and prime broker community. Neelam holds a BSc Honours in Business Information Systems from the University of Westminster.

Rickie Smith, Executive Director, Product Manager within the Trading Services business at J.P. Morgan responsible for the Discretionary Lending Product, Digital Assets Product and co-lead for the Global regulatory agenda impacting Lending, Collateral and Digital Assets services. Fully qualified accountant, with 20 years financial services industry experience, majority within the Tri-Party collateral space.

Sharon joined L&G Asset Management in June 2024 to optimise and develop securities lending and financing activity through partnering with third-party agents/custodians and internal functions to define policy and governance. Prior to joining L&G Sharon was a Securities Finance Trader at BNY agent lender and the Aviva inhouse securities lending programme, responsible for Equity/Fixed Income lending and in addition the execution of Repo/Reverse Repo for the Money Market and LDI funds.

Emma Watson is a senior business and transformation leader with 27 years in capital markets, specialising in Securities Financing, Collateral Management, OTC Derivatives, and Asset Servicing. As Securities Financing Lead and Programme Director at The Tonic Consultancy, she drives high-impact transformation programmes for global custodians and FMI’s, with expertise covering the full front-to-back trade lifecycle. Previously at J.P. Morgan and the Australian Securities Exchange, Emma shaped market-defining Collateral and Repo strategies, delivering innovation, efficiency, and industry-wide impact.

Adam works within the Funding & Optimisation team in Global Markets, and is responsible for managing inventory and balance sheet efficiency at UBS.
Adam has 20+ years’ experience in Investment Banking roles, across cleared and uncleared activity. Collateral has been a constant theme from his early days at Lehman Brothers and Deutsche Bank to the last 15 years at UBS.

Roy Zimmerhansl is a senior capital markets professional with over 20 years of experience in securities finance, collateral management, and post-trade infrastructure.

He has held senior roles at several leading global institutions, delivering significant growth, innovation, and operational efficiency. Roy leads the Capital Markets practice at WTS Hansuke, an established specialist consultancy, providing strategic advisory and training services focused on securities finance and related areas, and hosts well-regarded industry podcasts exploring trends and developments across capital markets.

A recognised thought leader, Roy serves as Co-lead of the Securities Lending/Securities Finance Working Groups within both the UK and EU Committees, helping to shape industry responses to the transition to T+1 settlement. Previously, his broader industry contributions included serving as Vice Chair of ISLA, member of the Bank of England Securities Lending and Repo Committee, and Board Member of the Pan-Asia Securities Lending Association. His work spans traditional finance and emerging areas such as digital assets and sustainable securities lending, with a consistent focus on market evolution, risk management, and regulatory readiness.