The International Swaps and Derivatives Association (ISDA) has added four new directors to its Board as it continues to expand its regional and business diversity.
As part of the move, ISDA is expanding the central counterparty (CCP) representation on its Board to two, and has appointed Daniel Maguire, CEO of LCH Group, who joins Kevin McClear, corporate risk officer at the Intercontinental Exchange, who joined the Board last year. Each CCP will serve for a two-year term, on a revolving basis.
The other three elected directors represent different areas of the derivatives business, and are based in three geographical locations. The new directors are Yutaka Amagi, head of global markets planning division, MUFG Bank; Marc Badrichani, head of Americas sales and marketing for markets and investor services, JP Morgan; and Jacques Vigner, head of strategy, conduct, risk and financial resources, global markets and corporate and institutional banking at BNP Paribas.
“I’d like to welcome Amagi-san, Marc, Daniel and Jacques to the Board,” says Eric Litvack, chairman of ISDA. “They each bring unique skills and insight to the Board, reflecting their experiences in different parts of the derivatives business. I’m sure they will make an important contribution to ISDA’s work to foster safe and efficient markets.”
Scott O’Malia, ISDA’s chief executive, adds, “ISDA’s Board continues to expand in terms of its regional and business diversity, and our organisation will benefit from the different perspectives our new Board members bring. ISDA is now well positioned to represent all parts of the derivatives market, whether cleared or non-cleared, bilateral or on-venue, or buy side or sell side.”
Seven other directors were re-elected and Diane Genova from JP Morgan and TJ Lim from UniCredit both stepped down after 19 years and nine years respectively on the Board.