Washington & Boca Raton, FL - The Futures Industry Association has announced the election of board directors at its annual meeting in Boca Raton, Fla. Seventeen directors were elected in total at this meeting, including eight regular member directors for two-year terms; four regular member directors for one-year terms; and five associate member directors for a two-year terms. 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 C. Dawley, Managing Director, Co-Head of Futures and Derivatives Clearing Services, Goldman, Sachs & Co., was re-elected as chairman
- Peter G. Johnson, Managing Director, Global Head of Futures, OTC Clearing and FX Prime Brokerage, Bank of America Merrill Lynch, was re-elected as vice chairman
- Najib Lamhaouar, Global Head of Exchange-Traded Derivatives and OTC Clearing, Global Markets, HSBC Securities (USA) Inc., was re-elected as secretary
- Gerald Corcoran, Chairman and Chief Executive Officer, R.J. O'Brien & Associates LLC, was elected as treasurer
The following individuals were 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:
- 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 C. Dawley, Managing Director, Co-Head of Futures and Derivatives Clearing Services, Goldman Sachs & Co.
- Sanjay Kannambadi, Chief Executive Officer and Global Head, BNY Mellon Clearing LLC
- Najib Lamhaouar, Global Head of Exchange-Traded Derivatives and OTC Clearing, Global Markets, HSBC Securities (USA) Inc.
- Reinhardt Olsen, Managing Director, North American Head of Exchange-Traded Derivatives, UBS Securities LLC
- William Sexton, Chief Executive Officer, Newedge USA LLC
- Michael Yarian, Managing Director, Head of Futures and OTC Derivative Clearing, Barclays Capital Inc.
Four directors were elected to fill the remainder of two-year terms expiring in 2013 in the regular member category:
- Fredrik Gentzel, Managing Director, Global Head of Listed Derivatives, Deutsche Bank AG
- Jerome Kemp, Global Head of Exchange-Traded Derivatives Sales and Clearing, Citigroup Global Markets Limited
- Emily Portney, Managing Director, Global Head of Futures and Options, J.P. Morgan Securities LLC
- Jeremy Wright, Global Head of Futures and Options, Markets, The Royal Bank of Scotland plc
Five directors were elected for two-year terms in the associate member category:
- Richard B. Gorelick, Chief Executive Officer, RGM Advisors LLC
- Arthur W. Hahn, Partner, Katten Muchin Rosenman LLP
- David S. Mitchell, Partner, Fried, Frank, Harris, Shriver & Jacobson LLP
- Kenneth M. Raisler, Partner, Sullivan & Cromwell LLP
- Donald R. Wilson, Jr., Chief Executive Officer, DRW Trading Group
The new board re-appointed the following individuals as special advisers to the board: Richard Berliand, management consultant, and Gary DeWaal, Senior Managing Director and Global General Counsel, Newedge Group. In addition, the board appointed John Damgard, the association's outgoing president, as senior adviser to the board. In addition, the board re-appointed Peter F. Borish as Chairman of the Institute for Financial Markets, the non-profit educational and training affiliate of the FIA, and appointed/elected Gerald Corcoran, Chairman and Chief Executive Officer, R.J. O'Brien & Associates LLC, as Chairman of FIA Technology Services, a subsidiary of the FIA that supports electronic execution of give-up agreements and execution brokerage payments.
The 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 the Futures Industry Association, who serves on the board ex officio, the continuing board directors are:
- Philippe Buhannic, Chairman and Chief Executive Officer, TradingScreen Inc.
- George E. Crapple, Co-Chairman & Co-Chief Executive Officer, Millburn Ridgefield Corporation
- Christopher Hehmeyer, Managing Member, HTG Capital Partners LLC
- Malcolm Clark Hutchison, III, Global Head of Listed Derivatives, Morgan Stanley
- Jeffrey Jennings, Managing Director, Global Head of Listed Derivatives, 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
- Andy Milnes, Head of Supply and Trading, Global Oil Americas, BP Corporation North America, Inc.
- Edward J. Rosen, Partner, Cleary Gottlieb Steen & Hamilton LLP
The 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. The 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. The 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.