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The board of the International Swaps and Derivatives Association (ISDA) has elected Eric Litvack as its new chairman, effective Jan. 1, 2015.
Litvack, a member of the ISDA board since 2006, was appointed to the board’s vice-chairmanship in 2012. He is a managing director and head of regulatory strategy for Société Générale’s global banking and investor solutions business. He has worked at Société Générale for nearly 29 years, according to an ISDA statement.
He succeeds Stephen O’Connor, chairman of the board since April 2011 and a board member since 2008. During O’Connor’s tenure, “ISDA led the industry through many transformational events, such as the adoption and implementation of clearing, trade reporting and trade execution mandates, benchmark reform, margin requirements for non-cleared swaps and, more recently, measures designed to reduce the risk that market participants are ‘too big to fail,’” according to the statement.
“I look forward to working closely with Eric Litvack on the key issues in our markets, including the new capital framework, margin requirements for non-cleared swaps, cross-border harmonization and trade execution rules,” Scott O’Malia, ISDA’s CEO, says in the statement, in which also salutes O’Connor’s contributions during his tenure as board chairman.
Need a Reprint?- Read More:
- Scott O'Malia,
- Societe Generale,
- isda,
- swaps
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