ISLA 32nd Annual Securities Finance & Collateral Management Conference
- 17-19 June 2025
- Madrid, Spain
ISLA 32nd Annual Securities Finance & Collateral Management Conference
Rodrigo Buenaventura
Secretary General
IOSCO
Rodrigo Buenaventura
Secretary General
IOSCO
Read moreJanan Ganesh
Political Columnist
FT
Janan Ganesh
Political Columnist
FT
Read moreSarah Alothman
Managing Director, Head of Securities Services
Riyad Capital
Sarah Fahad Alothman is the Managing Director – Head of Securities Services department at Riyad Capital. In addition to her current role at Riyad Capital, Ms. Alothman is also a member of the Sub-Custody Committee at the Capital Market institution Committee in CMA. Ms. Alothman has extensive experience in the Asset Management industry with Securities Services Expertise. She has previously held executive roles at several international Capital Markets Institutions. Prior to her role at Riyad Capital, she held executive positions HSBC Saudi Arabia where she was also the Vice Chairperson of the Valuation and Review Committee at HSBC, in addition to her role as head of funds services and global custody back at HSBC. Ms. Alothman holds a Master’s degree in Finance from Illinois Institute of Technology, Chicago, with specialization in Financial Markets as well as professional executive education certificate from INSEAD.
Sarah Alothman
Managing Director, Head of Securities Services
Riyad Capital
Read morePatrick Archenhold
ISLA Board Member, Executive Director, Prime Financing – EMEA Head of Inventory Supply
Morgan Stanley
Patrick is an Executive Director within Morgan Stanley’s Prime Brokerage business and has close to 20 years of experience across multiple financing products and derivatives in Europe and the MENA region. Patrick also sits on the board of the International Securities Lending Association as a Director.
Patrick Archenhold
ISLA Board Member, Executive Director, Prime Financing – EMEA Head of Inventory Supply
Morgan Stanley
Read moreIván Manso Arenal
Financial Services Strategy Manager, Digital Assets & Capital Markets
KPMG
Iván Manso Arenal is a strategic advisor to financial institutions and market infrastructure entities, specializing in digital assets, trading, post-trade services, custody, tokenization, and exchange-related operations. His expertise spans business model design, operational models, and regulatory compliance under frameworks such as MiCA.
Iván Manso Arenal
Financial Services Strategy Manager, Digital Assets & Capital Markets
KPMG
Read moreMonique Baines
Director, Securities Lending & Collateral Optimisation
Scotiabank
Monique is a Director within Scotiabank’s Prime Services, whom she joined in 2024. Monique has 29yrs of global securities finance experience having traded developed and developing markets in Asia, Europe and the Americas. Prior to joining, Monique held roles with J.P. Morgan, Macquarie and Morgan Stanley.
Monique Baines
Director, Securities Lending & Collateral Optimisation
Scotiabank
Read moreHarpreet Bains
ISLA Board Member, Managing Director, Global Head of Trading Services Digital and Agency Securities Finance Product
J.P.Morgan
Harpreet has been in the securities financing business for 18 years, and in her current position based in London, she is responsible for the management of the Trading Services Digital business as well as the Agency Securities Finance product. Her role includes strategy setting and working closely with sales and trading to deliver client solutions. She began her career in J.P Morgan in 1999, and since joining she has held various roles. Prior to securities lending, she spent 5 years as an internal auditor for Investor Services, and before audit, she worked as a legal entity financial controller with responsibility for controls and accounting advisory. Harpreet sits on the International Securities Lending Association’s Board of Directors and is also a member of the Bank of England Securities Lending Committee. Passionate about gender diversity and inclusion, she co-leads Women in Securities Finance, London, an independent industry group which champions the advancement of women across the Securities Finance industry. Harpreet holds a first class Honours degree in Business and Financial Services.
Harpreet Bains
ISLA Board Member, Managing Director, Global Head of Trading Services Digital and Agency Securities Finance Product
J.P.Morgan
Read moreTina Baker
Head of Legal Services, ISLA Connects Lead
ISLA
Tina is Head of Legal Services at ISLA, where she oversees all aspects of our legal documentation and opinions work for the benefit of ISLA members. This includes the management of our various legal working groups and streams to determine new and ongoing priorities and initiatives, as well as the relationships with external counsel and our netting opinions provider, aosphere.
Tina is also ISLA’s lead for ISLA Connects. ISLA Connects was launched by ISLA in 2024, with the aim of providing a forum for ISLA member firm representatives employed in the securities financing industry to connect, and enable ISLA to reach market participants who may not have the opportunity to interact with us via ISLA working groups or attend our annual conferences or other regional events.
Tina is a securities lending professional, having spent 11 years at Deutsche Bank in a senior Sales and Marketing role in the Equity financing team. Prior to joining Deutsche Bank, Tina worked in a sales and relationship management role supporting the securities lending trading desk at Morgan Stanley.
Tina Baker
Head of Legal Services, ISLA Connects Lead
ISLA
Read moreJesús Benito
Chairman of REGIS-TR; Chief Executive Officer, IBERCLEAR; Head Domestic Custody & TR Operations
SIX
As from 1st April 2022 Jesús Benito is Head Domestic Custody & TR Operations, SIX and Chairman of REGIS-TR.
He is a member of the Management Committee of Securities Services, SIX Group from 1st January 2021.
In September 2017, he was appointed as Member of the BME Management Committee as Head of the Settlement and Registry Unit.
Jesús is Chairman of the T2S CSDs Steering Group (CSG), since the creation of this Group in 2012. In T2S, he is involved in AMI-SeCo.
Jesús Benito is Chief Executive Officer (C.E.O.) of IBERCLEAR since 2006.
He has been involved in the European CSD Association (ECSDA) as member of its Board of Directors and Executive Committee.
Jesús Benito has participated in numerous international Groups, among others: the European Commission’s Clearing and Settlement Advisory and Monitoring Expert Group (CESAME and CESAMEII), Monitoring Operating Group (MOG).
Before joining Iberclear in 2000, he worked for Banco de España from 1988 to 2000, as Head of Section responsible for CSD links and securities settlement policy issues.
He holds a Business Degree from Complutense University.
Jesús Benito
Chairman of REGIS-TR; Chief Executive Officer, IBERCLEAR; Head Domestic Custody & TR Operations
SIX
Read moreAndreas Biewald
Managing Director, Senior Advisor Cash and Collateral, Treasury Department
Commerzbank
Andreas is a managing director within the Treasury department of Commerzbank, responsible for intraday liquidity management and all liquidity related issues in regard to settlements and payments. In addition, Andreas coordinates a variety of strategic infrastructure projects within the bank such as instant payments and digital initiatives such as HQLAx and Fnality where tokenisation of assets and cash are in focus. Repo related improvements of collateral fluidity, scarcity and settlement efficiency are the key drivers in the above-mentioned projects.
Andreas has a long-lasting experience in Money Market and Repo, always focusing on market infrastructure improvements and innovation.
Andreas represents Commerzbank within the ECB CGS Market Settlement Efficiency (MSE) Group , the Eurex Repo Advisory Board, ICMA FinTech Advisory Committee, the European Repo and Collateral Council and the ICMA regional board Germany.
Andreas Biewald
Managing Director, Senior Advisor Cash and Collateral, Treasury Department
Commerzbank
Read moreMatt Brunette
Global Head of Financing
Norges Bank Investment Management
Matt manages the Financing department for NBIM. His team is responsible for cash management and securities lending on the combined equity and fixed income portfolio. Prior to joining NBIM in 2002 on the Equity Trading desk, he worked at BlackRock and Morgan Stanley.
Matt Brunette
Global Head of Financing
Norges Bank Investment Management
Read moreIna Budh-Raja
ISLA Board Chair, ISLA Americas Board Member, Global Head of Securities Finance Regulatory Strategy, Public Policy & Industry Affairs
BNY
Ina is Global Head of Regulatory Strategy, Public Policy & Industry Affairs for BNY’s Securities Finance business. She serves in a business advisory & advocacy role and is responsible for leading the business’ efforts to identify and capitalize on new opportunities in a changing regulatory environment. Ina joined BNY in 2018 from the State Street Bank & Trust Securities Finance business, where she was Head of Regulatory Affairs, EMEA. Prior to that Ina was Managing Counsel for State Street’s Securities Finance business in EMEA and previously, derivatives & securities finance legal counsel supporting the equity finance and money markets desks at Deutsche Bank AG, London. Ina is Chair of the ISLA Board of Directors in EMEA and a Director in the ISLA Americas Board, she is a member of the Bank of England Money Markets Committee (MMC), the Bank of England Securities Lending Committee (SLC) and is Chair of the Bank of England Money Markets Code sub-committee. In addition, she co-leads Women in Securities Finance in London.
Ina Budh-Raja
ISLA Board Chair, ISLA Americas Board Member, Global Head of Securities Finance Regulatory Strategy, Public Policy & Industry Affairs
BNY
Read moreBen Challice
President & Chief Strategy Officer
Pirum
Ben Challice, President and Chief Strategy Officer, is a member of Pirum’s executive leadership team and serves on the Pirum Board. Challice has a 25-year career in senior capital markets roles, most recently leading JP Morgan’s Trading Services business. Prior to that Challice served as Pirum’s Chief Operating Officer post heading the global Prime Services business at Nomura, having begun his securities finance career at Goldman Sachs and then Lehman Brothers. Challice serves on board of OKX UK and has sat on the Bank of England’s Money Markets Committee.
Ben Challice
President & Chief Strategy Officer
Pirum
Read moreAlessandro Cozzani
ISLA Board Vice Chair, Head of Equity Funding
Bank of America
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
Alessandro Cozzani
ISLA Board Vice Chair, Head of Equity Funding
Bank of America
Read moreAdrian Dale
Head of Regulation & Markets
ISLA
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.
Adrian Dale
Head of Regulation & Markets
ISLA
Read moreLauren Degney
Global Head of Equity Finance
Citi
Based in London, Lauren Degney leads Equity Finance globally for Citi. She brings over 15 years of extensive financial sector experience to the role, having worked across distribution, trading, and sales trading for Delta One, SBL, Execution, and Equity Finance in global markets.
Prior to her current position, Lauren spearheaded Citi’s Delta One, SBL, and Equity Finance Distribution efforts in the APAC region. Her previous experience includes leading Deutsche Bank’s Low Touch Execution and Portfolio Services Group in APAC.
Lauren holds an MBA and a Bachelor of Economics from the University of New South Wales in Sydney, Australia
Lauren Degney
Global Head of Equity Finance
Citi
Read moreNick Delikaris
Chief Product Officer
EquiLend
Nick Delikaris is the Chief Product Officer at EquiLend, responsible for driving the company’s global product strategy and innovation. With over 20 years of experience across capital markets, FinTech and digital assets, Nick has held senior leadership positions at State Street, Coinbase and Goldman Sachs. At State Street, he led platform and data solutions and spearheaded various digital transformation initiatives. He is the founder and chair of the ISLA Americas FinTech and Innovation Committee and has served on the boards of several technology firms. Nick holds dual degrees in Computer Science and Economics from the University of Pennsylvania.
Nick Delikaris
Chief Product Officer
EquiLend
Read moreAndrew Dyson
Chief Executive Officer
ISLA
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 Dyson
Chief Executive Officer
ISLA
Read moreAdriana Ennab
Executive in Residence
Global Digital Finance (GDF)
With over 20 years of experience in capital markets, trading, and digital innovation, Adriana is a recognized leader in financial services transformation. Currently, she serves as an Executive in Residence at Global Digital Finance (GDF), an Advisory Board Member for The Digital Dollar Project, and a Fellow at the University of East London.
Most recently, as Director of Public Policy at Credit Suisse, she led initiatives at the intersection of technology, regulation, and innovation, driving the adoption of emerging technologies like blockchain, tokenization, and digital assets.Her career spans global roles in repo trading and product management at Merrill Lynch, Goldman Sachs, and Tradition Government Securities, alongside entrepreneurial ventures in Asia and London.
Recognized in the Women in Fintech Powerlist and as Women in Finance Returner of the Year, Adriana is committed to fostering diversity in finance and technology. Her expertise bridges traditional finance and the digital future, shaping regulatory frameworks and driving meaningful change in the industry.
Adriana Ennab
Executive in Residence
Global Digital Finance (GDF)
Read moreJala Faruki
Head of Custody & Securities Services
SNB Capital
Jalal has over 22 years of experience in financial markets across multiple functions covering global markets and asset classes.
He is currently Head of Custody and Securities Services at SNB Capital where he has established the Custody, Securities Finance, Asset Servicing and Administration businesses for the largest investment bank in Saudi Arabia over the past 4 years. Prior to that he held other roles at SNB Capital such as Head of Trading and Sales Trading in the Securities division since 2019.
Before joining SNB Capital he held positions including Head of Institutional Brokerage, Head of Treasury, Sales Trading and Portfolio Manager for various financial institutions and listed companies in the USA, UAE and Saudi Arabia.
Jalal graduated with a bachelors degree in Business Administration from Virginia Tech in 2002; held SEC licenses of Series 7 and 63 in the USA, various CISI licenses in the UAE and currently a CME 1 license in Saudi Arabia.
Jala Faruki
Head of Custody & Securities Services
SNB Capital
Read moreJemma Finglas
Head of Business Development, Execution Services EMEA
Citi
Jemma is the Head of Business Development for Execution Services at Citi. In this role, she is responsible for driving the product growth and client strategy across existing and prospective clients.
Jemma has over 30 years of experience in the financing industry, including trading positions across Prime Brokerage and Financing desks during tenures at Lehman Brothers and ING Barings. Prior to joining Citi in 2015, Jemma ran agency & principal lending, cash financing and FX products during a 10-year tenure at BNP Paribas.
Jemma has a masters from Trinity College Dublin University and a BSc (Hons), from UCO, London.
Jemma Finglas
Head of Business Development, Execution Services EMEA
Citi
Read moreFran Garritt
Executive Director, Head of Business
ISLA Americas
Fran joined ISLA Americas in 2024 as Chief Executive and Head of Business, leading advocacy efforts with policymakers and regulators while collaborating with the board and ISLA EMEA on the Association’s objectives to ensure the needs and requirements of member firms across the Americas are met.
Prior to joining ISLA Americas, Fran spent 22 years at the Risk Management Association (RMA), with the last 16 focused on Capital Markets Risk and Securities Lending. His role encompassed securities lending, regulatory outreach, and various risk management functions, including funding, traded market risk, liquidity, counterparty risk, collateral management, model risk, and country risk.
Fran completed the University of Pennsylvania’s RMA/Wharton Advanced Risk Management Program as well as receiving his Master of Business Administration in Finance in addition to International Business from Philadelphia University, and has a Bachelor of Science in Economics from The Pennsylvania State University.
Fran Garritt
Executive Director, Head of Business
ISLA Americas
Read moreJoseph Gillingwater
Senior Vice President, Global Head of Fixed Income Securities Finance Trading
Northern Trust
Joseph Gillingwater is a Senior Vice President and Global Head of Fixed Income Securities Finance Trading at Northern Trust Capital Markets.
Based in London, he joined Northern Trust in 2016, and is responsible for the global trading strategy, regulatory capital optimization, and distribution of bonds within the Agency Lending programme. Additionally, Joseph has responsibility for the management of repurchase agreement (repo) trading, including Northern Trust’s FICC sponsored repo capabilities.
Previously, Joseph was a Senior Portfolio Manager at State Street Global Advisors where he was responsible for the management of securities lending investments and short-term fixed income portfolios.
Joseph Gillingwater
Senior Vice President, Global Head of Fixed Income Securities Finance Trading
Northern Trust
Read moreBrooke Gillman
Managing Director, Global Head of Client Relationship Management
eSecLending
Brooke manages the Client Relationship Management team globally for eSecLending and is responsible for leading the firm’s service model and strategy for all client programs. She also oversees the firm’s marketing and communications group. Brooke has been in the securities lending industry and with eSecLending since its inception in 2000, when she was one of the firm’s founding members that started the business. Brooke has held various senior positions at eSecLending throughout the company’s growth including Business Development, Relationship Management and Marketing and Communications. In addition to her work with eSecLending, Brooke volunteers her time in the securities finance marketplace as well as outside of our industry. She was a founding Leadership team member for Women in Securities Finance, she serves as company Secretary for the Global Peer Financing Association (GPFA), a non-profit business association supporting global beneficial owners, and she is on the ISLA Americas Board of Directors, a non-profit industry association representing the common interests of securities lending firms in the Americas region. Brooke received her Bachelor of Arts in Business Administration from the University of Washington.
Brooke Gillman
Managing Director, Global Head of Client Relationship Management
eSecLending
Read moreAlistair Griffiths
Director, Business Development
ISLA
Alistair joined ISLA in January 2024 as Director – Business Development.
Alistair is responsible for ensuring ISLA’s services meets the needs and requirements of our member firms across Europe, Middle East & Africa. Alistair leads on strengthening relationships with ISLA’s current member firms, identifying growth opportunities across the securities finance landscape, and developing services and strategic partnerships that enhance ISLA’s memberships offer.
Alistair brings extensive experience of securities lending from both a buy and sell side perspective. Before joining ISLA, Alistair was Director of EMEA Sales at Baton where he was responsible for growing Baton’s solutions in the region. Prior to Baton, Alistair built experience across financial services, working at some of the largest and most respected institutions in the world including Bank of New York Mellon, BlackRock, and UBS.
Alistair Griffiths
Director, Business Development
ISLA
Read moreKelly Hagedorn
Partner, Privacy, Cyber & Data Strategy
Alston & Bird LLP
Kelly leverages her significant enforcement background to help clients mitigate risk under UK and EU data protection laws and support global clients on regulatory issues involving data privacy regulation and litigation.
Kelly Hagedorn
Partner, Privacy, Cyber & Data Strategy
Alston & Bird LLP
Read moreJethro Hancock
Head of Funding Markets
Lloyds Bank Corporate Markets
Jethro is part of the funding markets sales team who manage clients using repo and money market products with Lloyds Bank Corporate Markets trading desks and Lloyds Bank PLC treasury. The team have a focus on the sterling market, connecting the bank with clients across pension schemes, insurance, sovereign wealth funds, central and commercial banks as well as corporate treasuries.
Jethro Hancock
Head of Funding Markets
Lloyds Bank Corporate Markets
Read moreThomas Hansen
Global Head of Securities Finance
Banco Santander
Thomas joined Banco Santander London Branch in 2019 as head STM/Sec Finance: Repo, Sec Fin, and Structured Prod Finance, Operational Liquidity Management, Short-Term funding, Deposits, CDs and term financing for all asset classes, optimizing collateral across Santander CIB. In spring 2024 he took the role of Global Head of Securities Finance running the Global Inventory Finance Unit for all assets.
19 years at Credit Suisse in various FI trading roles, focusing on IRS, Bonds, Repo, Collateral, Sec Fin, and Liquidity/Capital. While in Global Liquidity Group: CS Madrid office Head of Trading Risk FI/Equities Cash and Derivatives, Listed Derivatives.
Spearheaded introduction/build of ISOCO margining at CS, actively participated in initial industry initiatives for Wave 1, creation of the Collateral Optimization function. Managed collateral, liquidity, pricing, discounting curves, and risk management. LCH PAG member 2007 to 2019, played key role in industry initiatives: blockchain, indices, and platforms. In the London Money Market Association, and since 2021 member of the ICMA ERCC, he was elected Vice Chair in 2023.
Co-Lead of the Trading and Liquidity workstream under the UK T+1 Accelerated Settlement Taskforce and is Co-Lead of the SecLending and Repo workstream under the EU T+1 Industry Committee.
Thomas Hansen
Global Head of Securities Finance
Banco Santander
Read moreStuart Heath
Director, Derivatives Products and Markets
Eurex
Stuart Heath is based in the UK Office of Eurex’ derivatives business focusing primarily on the development of equity and index derivative products. Stuart’s area of responsibility is specifically as part of the team focused on the introduction of derivative products to migrate OTC instruments into the cleared and exchange traded environment. Stuart joined Eurex in 2007 and has been involved in key product introductions at Eurex including designing, introducing and managing index dividend futures and options, as well as more recently part of the team introducing and managing total return futures, including Eurex Basket and Equity Total Return Futures.
Stuart Heath
Director, Derivatives Products and Markets
Eurex
Read moreEileen Herlihy
Global Head of Trading Services Sales
J.P. Morgan
Eileen is the Global Head of Trading Services Sales within J.P. Morgan’s Securities Services business. Eileen began her career in 2003 in Interest Rate sales at J.P. Morgan and moved thereafter to Interest Rates Exotics trading, both at J.P. Morgan and at Morgan Stanley.
She joined J.P. Morgan’s Derivatives Clearing business in 2011, initially to build out the Rates OTC Client Clearing franchise. Her product and market responsibilities expanded thereafter, culminating in her leading EMEA Derivatives Clearing Sales from 2016. In 2022, she moved to her current role on the Securities Services Sales leadership team, with global responsibility for the Trading Services business, encompassing Agency Securities Finance, Margin Services, Tri-Party and Investor FX Solutions.
Eileen has a first-class degree in natural sciences and management studies from the University of Cambridge.
Eileen Herlihy
Global Head of Trading Services Sales
J.P. Morgan
Read moreElisa Ricón Holgueras
Director General
INVERCO
Elisa joined INVERCO (Association of Collective Investment Institutions and Pension Funds) in April 2006 as Legal Advisor. In June 2009 she took over the Legal Department and in June 2015 she became General Manager. She combines this position with those of:
Prior to joining INVERCO, she worked at the CNMV (DG Entities, CII Supervision), at Deloitte (account auditing) and in internal control of CII (Morgan Stanley Dean Witter, Morgan Stanley Dean Witter).
Elisa Ricón Holgueras
Director General
INVERCO
Read moreTony Holland
Director, Market Practice
ISLA
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.
Tony Holland
Director, Market Practice
ISLA
Read moreStephen Howard
Chief Executive Officer
PASLA
Stephen is the CEO of a PASLA, responsible for advocacy, strategy and developing Securities Finance and Derivative markets with Policy Makers across Asia Pacific. As an experienced leader in Equity Derivatives and Securities Finance, he has built and scaled regional and global businesses for major US and European Banks. Developing OTC and listed markets across Asia, he headed Equity Derivatives in APAC, before moving to the Buy-Side to Head Trading for a Hong Kong based Multi Strategy Hedge Fund.
He is currently an Independent Non-Executive Director of a Hong Kong N.G.O. chairing Audit, Risk, and Fundraising committees. Previously serving as a Board Advisor for a regional Stock Exchange, and a Board Member for Banking and Securities entities. As an Expert Witness he provides independent opinions on financial risk assessments, civil and criminal litigation, disputes and tribunals, with a focus on Asset Management, Corporate and Flow Derivatives, and Margin Lending.
Stephen Howard
Chief Executive Officer
PASLA
Read moreAdnan Hussain
ISLA Board Member, Managing Director, Global Head of Treasury and Securities Lending
HSBC Securities Services
Adnan joined HSBC in November 2019 and is a Managing Director, responsible for the Treasury, Global Agency Securities Lending and Liquidity Services’ businesses within Securities Services. Adnan has over 20 years of industry experience and most recently was at BNP Paribas Securities Services, where he was responsible for Market & Financing Services in the UK and was also Head of agency Securities Lending globally. Prior to that Adnan held senior roles with RBC I&TS and CIBC Mellon. Adnan holds a Master of Laws (LLM) from the University of Toronto and is a Certified Public Accountant (CPA). Adnan is based in London.
Adnan Hussain
ISLA Board Member, Managing Director, Global Head of Treasury and Securities Lending
HSBC Securities Services
Read moreGergely Koczan
Senior Team Lead, DG Market Infrastructure and Payments
European Central Bank (ECB)
Gergely is a team lead within the ECB’s Market Innovation and Integration Division of the DG Market Infrastructure and Payments. He is responsible for securities infrastructure and collateral management integration and harmonisation and has been involved in the Eurosystem’s explorations on new technologies for central bank money settlement from the start. Gergely has 24 years of experience in central bank operations and infrastructure policies.
Gergely Koczan
Senior Team Lead, DG Market Infrastructure and Payments
European Central Bank (ECB)
Read moreMarion Laboure
Senior Economist, Thematic Research
Deutsche Bank
Marion Laboure is a Senior Economist at Deutsche Bank in London and Lecturer at Harvard University. She has extensive private sector, public policy, and monetary policy experience, including at the European Commission, the IMF, the Luxembourg Central Bank, and Barclays. She was nominated for “Outstanding Contribution of the Year” by Women in Finance, received first prize from the American Society of Actuaries, Revue Banque nominated her as a rising star in finance, she is part of the 45 standout women in fintech, and Business Insider named her a cryptocurrency mastermind. She is the author of Democratising Finance published by Harvard University Press.
Marion Laboure
Senior Economist, Thematic Research
Deutsche Bank
Read moreJuan Luis Lavandera
Chief Technology Officer
Santander Corporate and Investment Banking
Industrial engineer, 26 years working for Santander;
Juan Luis Lavandera
Chief Technology Officer
Santander Corporate and Investment Banking
Read moreOlivier Lefranc
Director - Business Development - Financing & Collateral
Euroclear
I joined the Euroclear business development collateral & financing team 2 years ago providing major sell-side firms with optimal collateral management solutions while supporting the continuous enhancement of Euroclear’s Collateral Highway (triparty platform).
Prior to this role, I held various roles in Euroclear, most recently as Senior Sales Relationship manager focused on Investment Banks in EMEA.
I hold a master degree in international finance from HEFF Brussels.
Olivier Lefranc
Director - Business Development - Financing & Collateral
Euroclear
Read moreFarrah Mahmood
Director of Regulatory Affairs
ISLA
Farrah joined ISLA in September 2019 and is Director – Regulatory Affairs within the Regulation & Market Practice group.
Farrah provides invaluable support to this strategically important part of the Association’s focus, by working with the various workstream coordinators to monitor and assess EMEA financial regulations, including Tax, that have potential to impact the securities lending market.
Farrah reviews regulatory implementation, consultations and manages industry working groups, whilst monitoring updates from policy makers & National Competent Authorities to maintain best practice documentation.
Prior to ISLA, Farrah occupied client service and desk support roles within derivatives and securities lending middle office, as well as in asset servicing operations, for J.P Morgan Chase.
Farrah Mahmood
Director of Regulatory Affairs
ISLA
Read moreSarah Nicholson
Director
Consolo Ltd
Sarah Nicholson is an independent consultant and trainer specialising in securities finance, operations and custody issues.
As a Director of Consolo, , Sarah has worked extensively with investment banks, asset managers and institutional investors in strategic developments and facilitating operational change.
Prior to consulting, Sarah worked at Aviva Investors, the asset manager of one of the largest European Insurance companies, for over 20 years. Sarah’s role at Aviva Investors, as Global Director of Securities Finance, meant she was responsible for trading desks and operational teams across the globe. Sarah also developed policy frameworks for a number of business lines within the company which ensured a consistent and risk controlled delivery across all markets and products. It was during this time that Sarah gained extensive knowledge of securities finance, operational processes and retail fund management.
Sarah was a board member of the International Securities Lending Association (ISLA). During her twelve year tenure, Sarah helped develop standardised market legal agreements and develop market wide best practices. Sarah then continued her connection with ISLA as an independent consultant to the assocation, specialising in regulatory change and operations issues until 2019.
Along with securities finance, Sarah’s main expertise is in asset management and operational process, operational risk management, fund Admin and retail fund management.
Sarah Nicholson
Director
Consolo Ltd
Read moreRomuald Orange
Co-Head of GSF Sales & Structuring
Natixis
Romuald started his career in 1996 in Germany, working for Paribas as Head of the securities lending desk within the custody department. In 2000, he joined HSBC Paris in the Equity Derivatives department where he held several roles up to becoming Local Head of Delta One and Equity Finance. During his years at HSBC, Romuald participated to the creation of the Delta One desk, trading the full suite of OTC and listed products used in the Securities Finance world.
After having spent 10 years with HSBC, he joined CA-CIB in 2010 in a newly created role as Head of the Product Specialist team, in charge of promoting Delta One products to sales and clients. Mandated by management to open the Flow and D1 activities in Asia, Romuald relocated to Hong Kong in 2011. Upon CA-CIB’s decision to close its equities activities, he endorsed the role of COO and worked on the outsourcing transaction to another major European bank.
Romuald joined Natixis in 2015 as Global Head of Client Strategy group within the Global Securities Finance (GSF) Department. He is now Co-Head of the GSF Sales & Structuring within Global Markets.
He holds a Master’s Degree in Finance.
Romuald Orange
Co-Head of GSF Sales & Structuring
Natixis
Read moreAndy Orr
Head of EMEA & APAC Securities Lending Trading
BlackRock
Andy, is Head of EMEA & APAC Trading in Securities Lending for Blackrock . An ex-technologist, Mr. Orr’s work in securities lending dates back to 2006 where he was employed by Barclays Global Investors as a systems developer in securities lending technology. Following a short tenure building and developing securities lending systems, he quickly transitioned into trading. Mr. Orr fist began roles in leadership with Blackrock in 2015 when he took regional lead of the EMEA trading team and he has since expanded his position to oversee cross product securities lending trading across EMEA & APAC.
Andy Orr
Head of EMEA & APAC Securities Lending Trading
BlackRock
Read moreRosa Pena Ortega
Incident Response Readiness and Retainer Manager
CrowdStrike
Rosa leads the retainer management program in EMEA at CrowdStrike, ensuring customers make the most of the services available for them. Moreover, she delivers response readiness exercises helping clients to become better prepared in case of suffering a cyberattack by addressing a whole variety of complex aspects that cyber incidents bring to organizations.
Prior to joining CrowdStrike, Rosa was Manager at the Cyber Emergency Management Department with Deloitte, where she was the head of the Resilience Readiness Team. Earlier in her career, Rosa worked as a Senior Consultant for the Business Security Solutions Department at PwC where, she specialized in advising on the analysis, design and management of third-party IT risk governance models for financial institutions.
Furthermore, Rosa has broad experience in Critical Infrastructure Cyber Compliance Analysis, ISO27001, ENS, NIST, GDPR and the management of legal and communications impacts of cyber incidents.
Rosa Pena Ortega
Incident Response Readiness and Retainer Manager
CrowdStrike
Read moreVíctor Rodríguez Quejido
Director General of Policy and International Affairs
Comisión Nacional del Mercado de Valores (CNMV)
Víctor Rodríguez Quejido
Director General of Policy and International Affairs
Comisión Nacional del Mercado de Valores (CNMV)
Read moreDavid Raccat
Co-founder and CRO
Wematch.live
David Raccat is the co-founder and Chief Revenue Officer (CRO) at Wematch.live, a pioneering fintech platform transforming the securities financing landscape. Since its inception in 2017, Wematch has digitised dealing workflows for over 1,000 dealers across 85 financial institutions worldwide, offering unmatched efficiency across securities lending, repos, and total return swaps. With more than $30 million in equity funding, the company is on an ambitious journey of global expansion. David brings over two decades of experience in securities financing and a strong network within the industry across EMEA. Prior to co-founding Wematch, he held several senior leadership positions at BNP Paribas, including Global Head of Markets Services, Head of MFS AsiaPac, CEO of BNP Paribas Dealing Services Asia, Head of Global Markets, and Head of Global Treasury. Throughout his career, David has demonstrated a strong track record of driving business growth, fostering innovation, and leading successful teams. At Wematch, David focuses on driving sales strategy, managing key client relationships, and representing the company at major industry events such as ISLA, IMN, and Clearstream. He has played a pivotal role in shaping the evolution of the financial services industry, particularly in the areas of securities financing, global markets, and treasury management. Based in Greater London, David is passionate about leveraging technology to enhance operational efficiency and foster innovation in financial services.
David Raccat
Co-founder and CRO
Wematch.live
Read moreGiovanni Sabatini
Independent Chair
EU T+1 Industry Committee
Mr. Sabatini currently serves as Independent Chair of the EU T+1 Industry Committee, after serving as General Manager of the Italian Banking Association for 15 years. He is member of the IFRS Board of Trustees and independent director in the board of several Italian companies. He has more than 40 years’ experience in international finance, including both public and private sector appointments. He previously served at Consob, the public authority responsible for regulating the Italian financial markets, and as Director General of the banking and financial system at the Italian Ministry of Finance. He was also CEO of the Italian CSD Montetitoli.
His extensive experience leading international organisations includes chairing the Executive Committee of the European Banking Federation, the International Organization of Securities Commissions’ (IOSCO) working group on secondary markets regulation and the European Association of Central Securities Depositories. Mr Sabatini has also co-chaired a joint working group by IOSCO and the Bank for International Settlements.
Mr. Sabatini is a certified public accountant and graduated cum laude from LUISS University in Rome.
Giovanni Sabatini
Independent Chair
EU T+1 Industry Committee
Read moreTommaso Sechi
Head of Securities Finance
GIC
Tommaso is Head of Securities Finance at GIC, based in Singapore. His focus areas are physical and synthetic securities financing transactions, collateral optimization, and financial resource management. Prior to joining GIC in 2019, Tommaso worked in portfolio finance at Avenue Capital and in prime finance at Deutsche Bank, based in London and New York. Tommaso holds a BA in Mathematics from the University of Cambridge and an MA in Mathematics of Finance from Columbia University.
Tommaso Sechi
Head of Securities Finance
GIC
Read moreSimon Squire
Global Head of Product Management - Clearance & Collateral Management
BNY
Simon is the Global Head of Product Management for the Clearance and Collateral Management Business at BNY Mellon, driving the business strategy and leading initiatives that enhance client experience and product capabilities, including strategic partnerships with external firms. Prior to joining BNY Mellon in 2017, Simon spent over a decade at Goldman Sachs.
Simon Squire
Global Head of Product Management - Clearance & Collateral Management
BNY
Read moreKirishan Srivaratharajah
Group Business Performance Director and MD Securities Lending
Titan Wealth
Kirishan Srivaratharajah
Group Business Performance Director and MD Securities Lending
Titan Wealth
Read moreGuido Stroemer
CEO
HQLAᵡ
Guido Stroemer is a financial market veteran with over 30 years of professional work experience in a variety of trading, risk management and senior leadership positions. Prior to co-founding HQLAᵡ in 2017, Guido was global head of repo trading at UBS. He received an MBA in finance from NYU Stern School of Business and a BA in economics from Hamilton College.
Guido Stroemer
CEO
HQLAᵡ
Read moreMarton Szigeti
Global Head of Collateral, Lending & Liquidity Solutions
Clearstream
Marton Szigeti is the Clearstream Global Head of Collateral, Lending and Liquidity. He joined Clearstream in July 2020 as the Head of Sales for the UK and Americas prior to moving into his current position. Prior to joining Clearstream, Marton spent 7 years at Deutsche Bank, where he held a variety of senior roles including Managing Director, Global Head of Sales for Securities Services and was most recently Managing Director, Head of Platform Sales for Global Markets. During his time at Deutsche Bank, Marton co-chaired the Capital and Risk Committee for the Global Transaction Bank where he was responsible for managing the balance sheet and financial and non-financial risk for all institutional clients. Prior to this he spent time at Goldman Sachs and J.P. Morgan where he focused on market structure strategy and principal strategic investments. Marton holds a degree in Electronics and Communications Engineering from RMIT.
Marton Szigeti
Global Head of Collateral, Lending & Liquidity Solutions
Clearstream
Read moreGéraldine Trippner
ISLA Board Member, Managing Director, Head of Financing Solutions and Client Profitability
Société Générale
Géraldine joined Societe Generale in 1993 and has been running cash and repo desks on Core European debts for 20 years. After spending a couple of years on a more transverse role as a coordinator for Fixed Income and structured financing, Geraldine moved to the sales side in 2019 to look after the global markets financing solutions. Geraldine is also responsible for optimising the leverage ratio regarding commercial activities. In 2019, she was appointed Head of Financing Solutions for Global Markets Sales and Head of Financing and Client Profitability in February 2023. Géraldine has also been co-sponsor of Women in MARK since 2022.
Géraldine Trippner
ISLA Board Member, Managing Director, Head of Financing Solutions and Client Profitability
Société Générale
Read moreNehal Udeshi
Managing Director, Global Head of Securities Finance
BNY
Nehal is Global Head of Securities Finance at BNY within the Markets Division. Securities Finance includes Agency Securities Lending program and the Principal related activities including FICC’sCleared Repo, Secured Loan Portfolio and the prime brokerage proxy BorrowPlus which facilitates alternative managers borrowing securities. Nehal has global responsibilities for the agency and principal businesses and provides strategic direction for securities lending functions including trading, cash collateral investment, sales, relationship management and business development.
Prior to joining BNY Mellon in 2023, Nehal spent 17 years at Goldman Sachs in New York and London in a range of roles, including most recently co-heading Global Cross Asset Financing within Global Markets and Banking. In this role she partnered with Fixed Income, Equities, Prime Brokerage and Corporate Treasury to originate innovative solutions for liquidity and capital resource optimization for the firm’s liabilities and distributed these solutions to a breadth of institutional clients. During her tenure at the firm, she also had responsibilities in equity structuring and started her career in foreign exchange trading.
Nehal holds a Bachelor of Arts (BA) in Mathematics from Imperial College London. Nehal serves on the board of trustees for Stevens Cooperative School, New Jersey.
Nehal Udeshi
Managing Director, Global Head of Securities Finance
BNY
Read moreAbelardo Vecino
Legal Attaché, U.S. Embassy, Madrid
Federal Bureau of Investigation (FBI)
Abelardo Vecino is the Legal Attaché at the U.S. Embassy in Madrid. In his role, Abelardo is the Federal Bureau of Investigation (FBI) Director’s representative to Spain, Andorra, Portugal, and Gibraltar. Abelardo is a 20-year veteran of the FBI having served in multiple field offices to include, Tampa, Miami, and Washington D.C. Abelardo’s prior overseas tour has included working in Bogota and Buenos Aires. Abelardo’s experience in the FBI has included working on investigations and leading teams on terrorism, organized crime, white-collar, cyber, and counter-intelligence matters. Abelardo holds a Bachelor of Science Degree in Accounting from the University of Florida, a Master’s in Business Administration (MBA) with a concentration in Accounting from the University of Miami, and a certificate of studies in Strategic Leadership from Northwestern University Kellogg School of Management. Abelardo is a Certified Fraud Examiner. Prior to his FBI career, Abelardo worked in the private sector holding several accounting and finance positions for US based multi-national companies.
Abelardo Vecino
Legal Attaché, U.S. Embassy, Madrid
Federal Bureau of Investigation (FBI)
Read moreEnrique Verdu
Managing Director, Securities Finance
Banco Santander
Enrique Verdu is a Managing Director and has been with Banco Santander S.A. in Madrid since 2007, facilitating the development of the Securities Finance Desk for Santander CIB in Europe, North America and Asia, with special focus on client interaction amongst the different geographies while building centralized hub capabilities for fixed income and equities, bilateral and triparty, for repo, securities lending and TRS financing, both for clients coverage and internal balance sheet, capital, collateral and liquidity management. As part of Santander CIB digital strategy, Enrique is currently focusing on promoting / implementing digital finance as part of Santander´s Securities Finance infrastructure. Before that Enrique spent nine years in London, working for HSBC, Banco Santander London branch, Lehman Brothers and Abbey National. Enrique holds a MBA (Global Executive MBA) by Instituto de Empresa (IE), member of IE´s Dean´s List.
Enrique Verdu
Managing Director, Securities Finance
Banco Santander
Read moreRoy Zimmerhansl
Head of Capital Markets
WTS Hansuke
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.
Roy Zimmerhansl
Head of Capital Markets
WTS Hansuke
Read more