Robert Pickel Appointed Executive Vice Chairman
The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Board of Directors has appointed Conrad P. Voldstad as chief executive officer. The appointment, which strengthens the Association’s management and brings to ISDA an accomplished industry leader, is effective November 30, 2009.
Robert Pickel, ISDA executive director and ceo since January 2001, will assume the newly created position of Executive Vice Chairman. Mr Voldstad and Mr Pickel will serve on the Association’s Board of Directors.
“I am delighted that Connie Voldstad – an industry pioneer with unparalleled experience in the global capital markets – is joining ISDA,” said Eraj Shirvani, ISDA chairman and head of Fixed Income EMEA at Credit Suisse. “His knowledge, experience and leadership skills will be invaluable in guiding ISDA and the industry as we work together to strengthen the framework for privately negotiated derivatives activity.”
Mr Voldstad said, “Throughout my career, ISDA has been at the forefront of industry efforts to shape, strengthen and improve global derivatives activity. Its mission and role today have never been more important. I look forward to working with ISDA’s Board, staff, membership and external constituencies on the many important issues that face our business today and in the future.”
As executive vice chairman, Pickel will continue to be a member of the Association’s senior management team, providing leadership for and assistance with strategic initiatives. “Bob has made an enormous contribution as Executive Director and CEO over the past nine years,” said Mr Shirvani. “We expect that he will continue to do so for a long time to come in his new role.”
“ISDA remains a vitally important asset for the global derivatives business, and I know that Connie Voldstad will significantly enhance the Association’s accomplishments and effectiveness,” said Pickel. “He brings strong financial markets expertise, solid business experience and a fresh perspective. I look forward to working with him and helping ISDA to leverage the opportunities and address the challenges ahead.”
ISDA will host a press conference tomorrow, November 20, at 10:30 AM EST to discuss the new appointments. The press briefing will feature Mr Shirvani, Mr Voldstad and Pickel. The call will end with a Q&A session that will be open to accredited journalists.
Participants can register for the conference by navigating to http://services.choruscall.com/diamondpass/registration?confirmationNumber=435973 and entering the Conference ID Number 435973.
Conrad P. Voldstad: Summary Biography
Mr Voldstad is a senior industry executive whose career in the financial markets spans three decades. Most recently, he served as Director of RAM Holdings Ltd. a credit reinsurance company. Earlier this decade, he was founding Principal of New Jersey-based Arlington Hill Investment Management, a global debt investment management firm.
From 1988 to 1999, Mr Voldstad was employed at Merrill Lynch, where he held several senior positions, including membership on the Oversight Committee responsible for liquidating Long-Term Capital Management; Co-Head of Global Debt Markets in New York; and Head of European Debt Markets in London. Mr Voldstad was also the founder of Merrill Lynch Derivative Products, the first AAA-rated derivatives products company. From 1974 to 1988 Mr Voldstad held increasingly important positions at JP Morgan and was the first head of Morgan’s Global Swap Group.
For his role in the development of the global derivatives business, Mr Voldstad has been elected to the Halls of Fame of Risk Magazine and Derivatives Strategy Magazine. He has a J.D. degree from Fordham University, an M.B.A. from the Amos Tuck School of Business at Dartmouth College and a B.A. degree from Boston College.
