FIA today announced the election of board directors at its annual meeting in Boca Raton, Fla. Fifteen directors were elected in total at this meeting, including eight regular member directors for two-year terms; two regular member directors for one-year terms; four associate member directors for two-year terms; and one associate member director for a one-year term. Following the election, the new board elected the association’s officers and public directors.
The following directors were elected as officers by the new board:
• Michael Yarian, Managing Director, Head of Agency Derivatives Services, Barclays, was elected as chairman
• Gerald Corcoran, Chairman and Chief Executive Officer, R.J. O’Brien & Associates LLC, was re-elected as vice chairman
• Emily Portney, Global Head of Agency Clearing, Collateral Management and Execution, J.P. Morgan Securities LLC, was re-elected as secretary
• Malcolm Clark Hutchison, Managing Director, Head of North American Listed Derivatives, Deutsche Bank Securities Inc., was elected as treasurer.
The following individuals were re-elected as public directors by the new board:
• Michael R. Schaefer
• Alice P. White
Eight directors were elected for two-year terms in the regular member category:
• Antoine Babule, Chief Executive Officer, Newedge USA, LLC, and Head of Newedge Americas
• Patrice Blanc, President, Futures Brokerage Division, Jefferies & Company, Inc. and Chief Executive Officer, Jefferies Bache LLC
• Gerald Corcoran, Chairman and Chief Executive Officer, R.J. O’Brien & Associates LLC
• Michael Dawley, Managing Director, Global Co-Head of Futures and Derivatives Clearing Services, Goldman, Sachs & Co.
• Malcolm Clark Hutchison, Managing Director, Head of North American Listed Derivatives, Deutsche Bank Securities Inc.
• Najib Lamhaouar, Global Head of Exchange-Traded Derivatives and OTC Clearing, HSBC Securities (USA) Inc.
• Edward Pla, Global Head of Clearing and Execution, UBS Investment Bank
• Michael Yarian, Managing Director, Head of Agency Derivatives Services, Barclays
Two directors elected to fill the remainders of two-year term expiring in 2015 in the regular member category:
• Craig Abruzzo, Managing Director, Morgan Stanley
• Jeffrey Howard, Global Head of Prime Services, RBS Securities Inc.
Four directors were elected for two-year terms in the associate member category:
• Robert Creamer, President, Geneva Trading
• Richard Gorelick, Chief Executive Officer, RGM Advisors LLC
• Arthur Hahn, Partner, Katten Muchin Rosenman LLP
• Kenneth Raisler, Partner, Sullivan & Cromwell LLP
One director was elected for the remainder of a two-year term in the associate member category:
• Clive Christison, Chief Executive Officer, Global Oil Americas, BP North America
The new board also appointed the directors of FIA Technology Services, a subsidiary of the FIA that supports electronic execution of give-up agreements and execution brokerage payments. The directors are Antoine Babule of Newedge USA, LLC; Rebecca Crowe of Deutsche Bank Securities Inc.; Michael Dawley of Goldman, Sachs & Co.; John Gleason of Morgan Stanley; and Chris Mitchell of J.P. Morgan Securities LLC.
FIA’s board of directors holds elections each year at the annual meeting in March, with terms staggered so that approximately half of the directors are elected each year. In addition to Walt Lukken, president and chief executive officer of FIA, who serves on the board ex officio, the continuing board directors are:
• George E. Crapple, Co-Chairman & Co-Chief Executive Officer, Millburn Ridgefield Corporation
• Maureen Downs, President, Rosenthal Collins Group LLC
• Thomas J. Erickson, Vice President, Director of Legal Affairs, Bunge Product Lines
• Christopher Hehmeyer, Managing Member, HTG Capital Partners LLC
• Jeffery Jennings, Managing Director, Global Head of Prime Derivatives Services, Credit Suisse Securities (USA) LLC
• Peter G. Johnson, Managing Director, Global Head of Futures, OTC Clearing and FX Prime Brokerage, Bank of America Merrill Lynch
• Jerome Kemp, Global Head of Exchange-Traded Derivatives Sales and Clearing, Citigroup Global Markets Limited
• Edward J. Rosen, Partner, Cleary Gottlieb Steen & Hamilton LLP
• Emily Portney, Global Head of Agency Clearing, Collateral Management and Execution, J.P. Morgan Securities LLC
FIA is the primary industry association for centrally cleared futures and swaps. Its membership includes the world’s largest derivatives clearing firms as well as exchanges and clearinghouses from more than 20 countries. FIA seeks to promote best practices and standardization in the cleared derivatives markets, provide policymakers with an informed perspective on the derivatives markets, and advocate for the interests of its members, its markets and its customers. FIA strives to protect open and competitive markets, protect the public interest through adherence to high standards of professional conduct and financial integrity, and promote public trust and confidence in the cleared markets.
