The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Board of Directors elected three new members. For the first time in the history of the Association, buy-side, or non-dealer, firm members will serve on the ISDA Board.
The three new directors are:
Pierre-Emmanuel Juillard, head of Structured Finance Division, AXA Investment Managers
Ted MacDonald, managing director and Treasurer, the D. E. Shaw group
Bill Powers, managing director and Member, PIMCO’s Investment Committee
Commenting on the appointments, Eraj Shirvani, ISDA chairman and head of Fixed Income for EMEA Region at Credit Suisse, said, “The Board has made an excellent choice by reaching out to the buy-side community and electing Pierre, Ted and Bill as Directors. The addition of these members to the ISDA Board highlights the Association’s efforts to diversify member representation at senior levels and to better serve the needs of all its members.”
Juillard joined AXA Investment Managers in March 1999 as the head of Structured Credit and Securitization and founded AXA Investment Managers’ Structured Finance Division (SFD). As the head of SFD, he also sits on the Executive Committee of AXA Investment Managers. Prior to that, he acted as a Senior Derivative Specialist with Chase Manhattan Bank in London and Aurel in Paris for three years. In addition, he worked as a Senior Quantitative Researcher at Paribas Capital Markets in London for three years. Juillard is a former student of ENSAE, one of France’s top business schools and ISUP, a French statistics institute. He holds a degree in stochastic modeling and statistics.
Prior to joining the D. E. Shaw group in 2003, Dr MacDonald worked at Citadel Investment Group, L.L.C., where he was most recently a director in that firm’s portfolio finance group. From 1997 to 1999, Dr MacDonald was a consultant at The Boston Consulting Group in Chicago. He received a M.Phil. and a Ph.D. in mathematics from Yale university in 1997. In 1991, Dr MacDonald received a B.A. in mathematics from Vassar College, where he was elected to Phi Beta Kappa.
Powers works at PIMCO’s Newport Beach office. Prior to joining PIMCO in 1991, he was with Salomon Brothers and before that, he served as senior managing director specializing in mortgage-backed securities at Bear Stearns. Powers has 26 years of investment experience and holds an M.B.A. from Stanford Graduate School of Business. He received his undergraduate degree from Princeton.
“These appointments reflect the importance of the role of investment firms within the privately negotiated derivatives business,” said Robert Pickel, executive director and chief executive officer, ISDA. “Pierre, Ted and Bill bring a wealth of experience and expertise to ISDA. They will greatly assist us in addressing the perspectives of our significant buy-side membership.”
