Harpreet has nearly 20 years’ experience in the securities financing business and is currently based in London, where she leads the Agency Securities Finance franchise across EMEA. She is responsible for the performance and growth of the regional business, including trading, client coverage, product strategy and cash reinvestment.

Harpreet began her career in J.P Morgan in 1999, and has held a number of roles across the firm. Before moving into securities financing, she spent 5 years as an internal auditor within Investor Services, and earlier in her career worked as 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.

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.

José Maria Brandão de Brito concluded the Economics degree at ISEG-UTL in 1994, after which he joined the Research Department of the Monetary Authority of Macau. He obtained a Ph.D. degree in Economics from the University of Birmingham with a thesis on monetary and financial topics.

Back in Portugal, he spent 6 years as a research economist at the Bank of Portugal and published papers on trade and monetary economics in international refereed journals. In 2006, he moved to Millenniumbcp, where he held the position of chief economist and head of sustainability and cryptoassets.

He has published several op-ed articles in local and international newspapers, including the “Financial Times” and the “Handelsblatt”. Since 2024, he serves as Deputy Finance Minister and for the Budget.

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.

Ina Budh-Raja joined ISLA in December 2025 as Chief Executive Officer responsible for the development of ISLA’s growth strategy and overseeing its core activities to help build a more transparent, efficient, resilient and reputationally robust foundation for the market.

Prior to ISLA, Ina spent 7 years at BNY, across a number of roles including Global Head of Securities Finance Regulatory Strategy, Public Policy & Industry Affairs, where she was responsible for leading the business’ efforts to identify new opportunities in a changing regulatory environment. Prior to BNY, Ina held both commercial and legal roles across the industry over 20 years, including as managing counsel for securities finance at State Street and Deutsche Bank, covering the agency lending, principal lending, equity finance and money markets desks. Ina is a qualified lawyer with an active practicing certificate (Law Society of England & Wales) and is also a member of the Bank of England Money Markets and Securities Lending Committees and is Co-Chair of the Bank of England UK Money Markets Code Sub-Committee.

Ina was a Director on the ISLA Board from 2019-2022 and was subsequently appointed as Chair of the Board of ISLA from 2022-2025, during which time the organisation grew significantly, with Ina playing a considerable role in the establishment of ISLA’s affiliate, ISLA Americas. She also championed the launch of ISLA’s future talent initiative, ISLA Connects. As well as being ISLA’s first female Chair and CEO, Ina is co-lead of the London chapter of Women in Securities Finance.

Matt Collins is a Managing Director & Co-Head of Securities Lending & Delta One Structured Products (DSP) Trading for the Americas at Morgan Stanley, based in New York. Matt joined the firm in 2010 and spent 8 years in London, mostly serving as the Head of Securities Lending for EMEA. Matt started his career in corporate finance at Dresdner Kleinwort Wasserstein before moving to Société Générale’s equity finance trading team in 2004. Matt has served on the Bank of England’s Securities Lending Committee and as a non-executive director for The International Securities Lending Association (ISLA) and Morgan Stanley’s strategic equity investments. Matt holds a Bachelor’s degree in Economics & Economic History from The University of York.

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.

Adrian joined ISLA in January 2019 as Head of Market Structure, Digital & RegTech. 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. Prior to joining ISLA Adrian was head of product development for SFTR at IHS Market.

Ernst Dolce is CEO and Co-Founder of Banqora, a London-based fintech specialising in post-trade infrastructure, agentic workflows, and AI-driven data analytics. He has a proven track record of generating revenue across a €300 billion securities financing portfolio and developing innovative solutions for banks, insurers, pension funds, hedge funds, and asset managers.

With over 20 years in the financial industry, Ernst previously led AXA Investment Managers’ Liquidity Solutions business and trading activities in repo and securities lending (2019–2022). He served as Head of Structuring and Solutions Development at AXA IM (2016–2019), Senior Structurer (2013–2015), and Senior Investment Risk Manager (2006–2013). Earlier roles include Quantitative Analyst positions at CDC IXIS AM and QuantElligence.

Ernst holds an MSc in Mathematics and Computer Science from the University of Lyon II and an MSc in Financial Engineering from ESLSCA Paris.

Alex is General Counsel at Sharegain, a capital markets fintech specialising in retail securities lending. She has over 14 years of experience across capital markets and financial regulation, with a particular focus on the intersection of technology and regulatory frameworks in the context of retail securities lending programmes. At Sharegain, she oversees the legal function across both EMEA and US operations, advising on how technology can be deployed responsibly to scale securities lending across jurisdictions.

Prior to Sharegain, she trained and practised at Latham & Watkins in Paris and London as part of the Corporate department, advising on complex cross-border transactions across structured finance, derivatives, equity financing, and debt capital markets. Alex is a regular external voice on retail investor protection, programme transparency, and the regulatory evolution of the securities lending market.

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.

Keren has over 20 years of experience in capital markets and fintech, first as a trader at a pioneering algo-trading company; then as a lawyer in the legal department at the Tel Aviv stock exchange; and today, as Deputy CEO & Chief of Staff of Sharegain, the global B2B capital markets fintech. Keren is a board member of the International Securities Lending Association.

Hitesh Harduth is the Head and Product Owner of Standard Bank’s Investor Services Securities Lending and Borrowing business and currently serves as Chairman of the South African Securities Lending Association (SASLA). As a seasoned leader with over 20 years in the securities lending industry, he brings deep expertise across operations, collateral management, and trading. His perspectives are shaped by a career that spans Settlements, Collateral Management, and senior trading roles, providing a holistic understanding of market structure, participant behaviour, and regulatory evolution.

Hitesh is recognised for his ability to translate market complexity into practical insights, contribute to industry‑wide initiatives, and represent the South African securities lending community on key platforms. He holds a Business Management Diploma from Boston City Campus (Johannesburg).

Thomas Hoang is Director and Global Head of Client – Product Solutions Delivery in Securities Finance at Citi Investor Services.

Prior to Citi, Thomas worked in portfolio management at a large New York-based financial guaranty insurance company that provides credit enhancement for debt obligations.

Thomas started his career in debt capital markets in Project and Public Finance origination, syndications, and portfolio management. His responsibilities spanned all stages of the transaction life cycle from new deal sourcing, structuring, to managing the bank syndicate to closing and post-closing in portfolio management/client servicing.

Earlier in his career, Thomas interned at the White House in the Executive Office of the President under President Barack Obama and worked on global financial and energy policies. Prior to the White House, he served in the New York State Executive Chamber under Governor Andrew M. Cuomo, where he was responsible for state-wide energy efficiency and finance initiatives.

Thomas joined Citi in 2017 as part of the firm’s Financial Management Associate Program, a leadership development program for MBA graduates. Since then, he has worked in various roles including Finance, Risk-Weighted Assets, Comprehensive Capital Analysis and Review, Chief Operating Officer Office, and Product.

Thomas is a graduate of the London School of Economics and Political Science, Columbia University, and Baruch College – Zicklin School of Business.

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.

Yalini Isweran serves as Executive Director Product Management of DTCC Digital Assets where she leads the strategy, direction, and roadmap prioritization for the DTCC Digital Launchpad.

Prior to DTCC, Yalini was Managing Director, Head of Digital Liquidity Solutions at State Street where she oversaw development of State Street’s digital strategy leveraging the firm’s emerging technology infrastructure to provide enhanced liquidity and treasury management solutions for clients. In this role, she built the organizational structure to establish the new division. Yalini also held positions in corporate strategy, foreign exchange and collateral management during her tenure at State Street and at BNY Melon.

Yalini holds a Bachelor of Science in Economics from the University of Southampton and is based in DTCC’s London office.

Gesa leads the Global Collateral Platform at BNY. Servicing our global client base, BNY manages, optimizes, moves and keeps safe more than $7.8 trillion in collateral assets every day.

As the Executive Platform Owner, she is responsible for the vision of the platform, accountable for commercial outcomes and maintaining critical oversight of the business’ risks and regulatory obligations.

She serves on the Board of ISDA (International Swaps and Derivatives Association) since 2021, taking an active role to support ISDA’s strategic goals to foster safe and efficient derivatives markets as the Chair of the Product & Infrastructure Committee.

Gesa has over 25 years industry experience. Prior to joining BNY in 2013, she spent 10 years at Eurex Clearing and led the product strategy of the CCP.

Gesa has also previously held senior roles at KPMG and Deutsche Bank. Gesa is a member of Women in Securities Finance and Leading Ladies in Finance in Germany.

The Product team leads the innovation agenda for the securities lending business, to ensure we develop effective solutions on behalf of our clients. The group’s remit also includes planning the business’ strategic direction, regulatory engagement and market structure initiatives. Prior to this, Mr. Kaiser was responsible for Securities Lending clients in EMEA and APAC.

Mr. Kaiser’s service with the firm dates back to 2005, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Prior to joining BGI, Mr. Kaiser worked for Commerzbank in a variety of positions, including Mergers & Acquisitions, Corporate Banking, Investor Relations and Asset Management in London, Shanghai, Frankfurt and Singapore. Mr. Kaiser represents BlackRock on the board of the International Securities Lending Association (ISLA). He earned a BA degree in finance from University of Cooperative Education Mosbach and an MSc in business management and economics from University of Trier.

Roanna Kim is Managing Director & Head of Prime Brokerage within the Central Funding Group at RBC Capital Markets, joining RBC in 2018. Roanna has over 25 years of experience in the financial services industry with the majority of her career spent within the Securities Finance value chain through roles as an agency lending trader, sales and relationship manager, and a principal borrower for a broker dealer. After a career break, Roanna was a 2018 recipient of the VersaFi Return to Bay Street (RTBS) Award and later received an Executive Leaders Award in 2021.

Roanna is a recognised female leader through her work as a Toronto chapter co-Lead with Women in Securities Finance, and a co-chair of an RBC Capital Markets ERG, RWomen. Roanna currently serves as President on the CASLA (Canadian Securities Lending Association) board providing consulting services to CASLA for the oversight of its daily operations, administration, and finance while supporting the CASLA Board of Directors and its sub-committees.

Farrah joined ISLA in September 2019 and in January 2026 became Head of Advocacy, Public Policy & Regulatory Strategy.

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.

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.

Mark Nichols is a Partner at EY and a leader in Capital Markets Consulting practice based in New York. Mark’s focus at EY is around the Digital Asset eco-system and broader growth and innovation across the capital markets. In this role Mark leads EY’s consulting work Digital Assets and Market Infrastructure across the Americas. This work spans traditional and digital native clients across the buy side and sell-side, as well as with Market Infrastructure players.
Mark and his team have supported clients in the development of their Digital Asset Strategy across Crypto, Payments and Tokenization. He has supported clients through the operational readiness, risk assessments, the technology design and build, engagement with regulators and product launch support. Mark and the wider EY team also supports firms across the full lifecycle in the Digital Asset eco-system as they scale and mature the enterprise supporting firms with services across Consulting, Assurance, Strategy & Transactions, Finance and Tax.

Cassie von Sprecher, CFA, is a Managing Director and Global Head of Agency Lending Sales at Deutsche Bank. She leads the firm’s global agency lending and cash investment solutions sales strategy, driving growth and overseeing regional teams to deliver tailored financing solutions to clients worldwide.

Prior to joining Deutsche Bank, Cassie spent more than a decade at State Street in progressively senior leadership roles across North America and EMEA. Most recently, she served as Managing Director and EMEA Head of Financing Solutions Sales and Client Management, where she led multi‑country teams across Agency Lending, Prime Brokerage, and Repo. She also played a key role in establishing State Street’s international repo desk and oversaw the launch of the firm’s triparty and collateral management solutions sales teams. Cassie began her career in analytics and trading, developing capital optimization strategies for State Street’s balance sheet.

Cassie is a CFA Charterholder and an active member of several industry associations.

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.

Paul Tagliareni is a Managing Director and the Head of ISG Resource Management at Morgan Stanley.
In his current role, Paul oversees the balance sheet, liquidity and capital optimization for the Institutional Securities Group [ISG], which includes the Fixed Income and Equity Divisions. Prior to his current role, Paul was the Americas COO for the Client Financing, Securities Lending and XVA Businesses.

Prior to joining Morgan Stanley, Paul worked in finance as a repo and government trading product controller at various financial institutions.

Paul received his B.S. at The Pennsylvania State University and his MBA from The Leonard N. Stern School of Business at New York University.

Sharon Terry is a Securities Lending Specialist at L&G Asset Management, responsible for the oversight, development and governance of securities lending activity. She works closely with agent lenders, custodians and internal risk, legal and compliance teams to ensure robust programme design, control and transparency across equity and fixed income lending.

Previously, Sharon was a Securities Finance Trader at BNY Mellon and within Aviva’s in house securities lending programme, with hands on experience across equity and fixed income lending, as well as repo and reverse repo execution for money market and LDI funds. She brings a strong front to back understanding of securities finance markets, risk and operating models.

Geoffrey Yu is the Senior Markets Strategist for European, Middle Eastern and Asian markets at BNY, specializing in currencies, asset allocation, and China’s economy, policymaking, and politics. He is a regular contributor on Bloomberg and CNBC and previously spent 15 years with UBS across senior FX strategy and Wealth Management roles, as well as serving as the United Kingdom’s CIO. Geoffrey holds a BA in Math and Economics from Carleton College and an MSc in Finance from the London School of Economics.