Dhruve Bhavsar, Head of First Line Risk for RepoClear, EquityClear and CaLM at LCH Ltd, part of LSEG. Responsibilities include the day to day risk oversight of cleared repo, cash equity and collateral services, covering margin and collateral haircut methodology, liquidity risk, stress testing and default management. Dhruve works closely with clearing members, regulators and industry bodies on the evolution of clearing services, margin efficiency and market resilience, particularly across repo and securities finance markets.

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.

Tom Chater-Duchesne leads the Secured Financing team within Treasury Investments at Revolut. Tasked with establishing the Group’s global financing investment portfolio, he oversees trade execution and the development of the firm’s collateral management infrastructure. Tom transitioned to the fintech space in 2023 after 10 years at UBS, where he built extensive expertise trading repo and securities financing products across the fixed income spectrum.

Scott is Head of Liquidity Management within Group Corporate Treasury at Lloyds Banking Group. The role is focused on managing the Group’s liquidity position, investing the HQLA portfolio as well as managing short-term funding & financing. He has worked across both Treasury & Financial Markets divisions during his career at Lloyds.

Rosa is Head of LDI Implementation, a role that comprises responsibility for LDI Portfolio Management and Solution design in EMEA. She joined Columbia Threadneedle through the acquisition of BMO GAM (EMEA) in 2021 as an LDI Portfolio Manager, having previously been with BMO since 2010. Rosa is responsible for the management of sterling and euro LDI pooled and segregated clients and the strategic direction of the LDI business. Rosa has a BEng in Materials Science and Engineering from Imperial College and is a CFA Charterholder.

Howard Field is a Director and head of BNY’s international fixed income trading desk, trading all major bond asset classes. Howard has over 25 years’ experience in Securities Lending in trading, project work and operations with BNY, RBS and SG Warburg.

Graham is EMEA Head of Tri-party Product Management at J.P. Morgan, based in London. His role includes strategy setting, 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.

Sam has over twenty years’ experience working in financial markets, both as a portfolio manager, and for the last fifteen years as an economist and strategist on the sell-side. He heads up the Lloyds team producing and distributing high frequency content on macroeconomic and financial market drivers for the bank’s institutional and corporate client base.

Dom has 38 years Capital Markets experience with a strong reputation in Electronic Trading in the Fixed Income Markets. He started as a Corporate Bond trader and after 15 years of working in London, New York and Tokyo, he moved into Electronic Trading in 2001 as a key figure in the launch of MarketAxess in Europe.

Dom then held several senior Electronic Markets roles at Barclays, RBC and Deutsche Bank, working closely with trading venues, data vendors and regulators to deliver services to clients of the banks.

In 2020 Dom returned to London after 4 years with Bank of New York to set up an independent advisory firm that has helped Banks, Trading Venues and Fintech companies with their Digitalisation strategies. Dom joined the FCA in January 2024 with a focus on increasing the FCA’s proficiencies in FICC markets, supporting the development of market monitoring in these areas, as well as building further data and technology capabilities.

Peter Left is Head of Digital Assets at Lloyds Banking Group, leading the Group’s strategy and delivery across tokenised money, digital assets, and distributed ledger technologies.

With over 20 years of Financial Markets experience, Peter began his career structuring and trading derivative solutions before moving into roles focused on managing the balance sheet impact of derivatives. He later led Money Market and Repo Sales & Trading and subsequently joined Group Treasury, where he was responsible for funding and liquidity management for the Lloyds Ring fenced Bank group.

During his time in Group Treasury, Peter reached a pivotal realisation: that the greatest risk to a modern retail bank was not a 30 day liquidity stress, but a 30 year generational shift in customer technology expectations. If banks failed to adapt to the digital financial infrastructure emerging globally, the resulting outflow could dwarf any stress scenario. This insight led him to focus on integrating Lloyds’ balance sheet into the digital asset commerce systems of the future.

Kate Lowe is the Deputy Chief Business Officer for Euroclear UK and International and Head of Data and ESG for Euroclear. She is responsible for driving the strategy of the business to position EUI to best serve UK Capital Markets as an FMI in the future. In her Head of Data role, she drives cross-functional alignment and market expansion across Euroclear’s global footprint and champions Euroclear’s data and ESG agenda – embedding sustainability into product strategy.

Prior to joining Euroclear, she spent six years at State Street, most recently running the award-winning GlobalLink FX as CEO of State Street Global Markets International Limited and CEO of FXConnect LLC. She has over 20 years of experience in Finance and held numerous leadership roles at Standard Chartered Bank, BNP Paribas, JPMorgan and Morgan Stanley within the Prime Services & Clearing, Fixed Income and Equities businesses. Kate joined EUI in February 2025 and as a Product Innovator, her focus is to work with clients and the market to build solutions that put the UK ecosystem at the forefront of the Capital Markets industry.

Born and raised in South Africa, she qualified as a Barrister with the Durban Bar prior to immigrating to the United Kingdom in 1998.

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.

Mark leads the UK Digital Assets Consulting practice at EY and has over 20 years’ experience supporting Capital Markets, and more recently, Digital Asset native firms with a variety of risk, regulatory, and strategy initiatives.

His digital asset experience includes supporting firms with their regulatory authorisation (and operational readiness) efforts in the UK and EU, adapting risk and control frameworks for firms expanding their DA product offerings, and performing industry studies related to institutional adoption of digital assets.

His TradFi experience includes supporting Capital Markets firms with process, risk, control, operating model, and regulatory response projects in their Markets Sales & Trading (incl. eTrading) businesses.

Carla has over 25 years of experience in the banking sector as a senior executive and non-executive director. Her roles have spanned investment banking and retail banking, both in the UK and internationally across a broad range of functional areas. She was appointed CEO for LBCM in February 2023, having previously served as an internal non-executive director on the LBCM Board. From 2015 to January 2023, Carla led LBG’s strategic work as Group Strategy, Corporate Development and Investor Relations Director. She was responsible for making recommendations on all areas of major strategic significance for LBG including M&A and fintech investments, and managing relationships with the wider investment community.

Prior to joining Lloyds, Carla spent 18 years as a top ranked Equity Analyst for European banks, working for Credit Suisse, JP Morgan and Deutsche Bank.

External appointments: Non-Executive Director and member of Nomination & Governance Committee of Novo Banco and Member of the Investment Committee, St. Edmund Hall, University of Oxford.