International Swaps and Derivatives Association (ISDA) has announced the
appointment of Ulrich Karl as head of clearing services.
ISDA says the
appointment reflects its mission to foster safe and efficient markets,
which includes promoting a robust infrastructure for clearing, trading and
reporting. Karl joins from HSBC, where he served as director, CCP, global markets.
In that role, he acted as the industry chair of ISDA’s Clearing, Risk and
Capital Working Group.
done a fantastic job as the chair of one of our primary clearing working
groups, and we’re delighted to have him join ISDA to lead our clearing efforts,”
says Scott O’Malia, chief executive of ISDA. “He is a respected industry leader
and brings a wealth of experience on clearing and risk management issues,
including on the critically important topic of central counterparty recovery
and resolution. ISDA remains committed to represent all parts of the derivatives
market, both cleared and non-cleared.”
newly created role, Karl will organise and lead ISDA’s clearing initiatives
across the Association, and reports to Mark Gheerbrant, ISDA’s head of risk and