Who We Are

Member Firms

Full Members
Australia and New Zealand Banking Group
BAE Systems
Bank of America Merrill Lynch
Bank of New York Mellon
Barclays
BHP
BlackRock
Bloomberg
BNP Paribas
BP
Citadel Securities
Citigroup Global Markets Limited
Crédit Agricole CIB
Credit Suisse
Deutsche Bank
Goldman Sachs
HSBC
Invesco
JP Morgan
Legal & General Investment Management
Linklaters (Legal Advisor)
Lloyds Banking Group
London Stock Exchange Group
Morgan Stanley & Co. International Plc
National Australia Bank
NEX
Nomura
RBS
Refinitiv
Rio Tinto
Royal Bank of Canada
Royal Dutch Shell
Royal Mail Group
Société Générale
Standard Chartered
Standard Life Aberdeen
TP ICAP
Tradeweb
UBS
Vodafone
XTX Markets

Associate Members
Euronext FX Inc.

MarketAxess

Tradition

Partner Members
Association of Corporate Treasurers
Banking Standards Board
KPMG
Oliver Wyman
Standards Board for Alternative Investments

 

Advisory Council

 

Name Company Name
Raj Patara BAE Systems
C.S. (Venkat) Venkatakrishnan Barclays
Vandita Pant BHP
Patrick Olson BlackRock
Rob Friend Bloomberg
Olivier Osty BNP Paribas
Alan Haywood BP
Paul Hamill Citadel Securities
James Bardrick Citigroup Global Markets Limited
Walid Assaf Crédit Agricole CIB
Nick Lovett Credit Suisse
John Pipilis Deutsche Bank
James Esposito Goldman Sachs
Samir Assaf HSBC
Michael Cole-Fontayn Independent
Charles Nichols Independent
Stephen O’Connor Independent
Kathleen J. Yoh Independent
Guy America JP Morgan
Mark Zinkula Legal & General Investment Management
Robert Elliot Linklaters (Legal Advisor)
Mark Grant Lloyds Banking Group
Raffaele Jerusalmi LSE Group
Clare Woodman Morgan Stanley & Co. International Plc
Drew Bradford National Australia Bank
Michael Spencer NEX Group plc
Jonathan Lewis Nomura
Kieran Higgins RBS
Neill Penney Refinitiv
Paul Hedley Rio Tinto
David Thomas Royal Bank of Canada
Russell O’Brien Royal Dutch Shell
Stuart Simpson Royal Mail Group
Antoine Broquereau Société Générale
Alexandre Axentiev Standard Chartered
Rod Paris Standard Life Aberdeen
David Casterton TP ICAP
Simon Maisey TradeWeb
David Soanes UBS
Zar Amrolia XTX Markets

Partner Members

Name Company Name
Caroline Stockmann Association of Corporate Treasurers
Colette Bowe Banking Standards Board
Karim Haji KPMG
Christian Edelmann Oliver Wyman
Amelia Fawcett Standards Board for Alternative Investments

Board

Name Company Name
Paul Moore ANZ
Graham Hill Bank of America Merrill Lynch
Nat Tyce Barclays
Vandita Pant BHP
Jane Sloan BlackRock
Paul Matherne BNY Mellon
Martin Egan BNP Paribas
Brian Oliver Citadel Securities
David Wayne Deutsche Bank
James Kemp Global Financial Markets Association
Patrick Street Goldman Sachs
Chris Salmon HSBC
Marc Bailey Independent
Catherine Bradley Independent
Charles Nichols Independent
David Tait Independent
Karim Awenat Invesco
Charles Bristow JP Morgan
Colin Reedie Legal & General Investment Management
Michael Kent Linklaters (Legal Advisor)
Fabrizio Testa LSE Group
Christopher Good Morgan Stanley & Co. International Plc
Anthony Deagan National Australia Bank
Stuart Wexler NEX Group plc
Matthew Reader Nomura
Sian Hurrell Royal Bank of Canada
Russell O’Brien Royal Dutch Shell
Craig MacDonald Standard Life Aberdeen
Enrico Bruni TradeWeb
Ciara Quinlan UBS
Zar Amrolia XTX Markets

Partner Members

Name Company Name
Caroline Stockmann Association of Corporate Treasurers
Alison Cottrell Banking Standards Board
Peter Rothwell KPMG
Catherine Brown Oliver Wyman
Thomas Deinet Standards Board for Alternative Investments

Committees, Sub-Committees & Working Groups

Market Practices Sub-Committees

Fixed Income, Rates Products
Charles Bristow, Chair

Fixed Income, Spread Products
Jonathan Brown, Chair

Currencies
James Kemp, Chair

Commodities
Metals Working Group – David Tait, Chair

Energy Working Group – Phil Llewellyn, Chair

BCA Committee

David Flowerday, Chair

Codes & Standards Convergence Sub-Committee

Chair TBD

Conduct & Ethics Sub-Committee

Darren Jarvis, Chair

Conduct & Ethics Working Groups

First Line of Defence – Susan Revell, Chair
Conduct & E-Commerce – Chris Dickens, Chair
Conduct & Ethics Conflicts of Interest – Mandy DeFilippo, Chair

Electronic Trading & Technology Committee

Co-Chairs – Zar Amrolia & Chris Purves

Large Trades Working Group

Michael Dawson, Chair

Pro Bono Support

Many thanks to those who have provided invaluable pro bono support to FMSB and have been instrumental in the production of our Standards and documents.

Deloitte

David Strachan – Member of the Surveillance Working Group and contributed to the drafting of the Statement of Good Practice for Surveillance in Foreign Exchange Markets

EY

Stuart Crotaz – Member of the 1st Line of Defence Working Group
Pierre Pourquery – Member of the 1st Line of Defence Working Group
Mark Selvarajan – Member of the Conduct & E-Commerce Working Group member

KPMG

Roger Acton – FMSB Secretariat Secondee (former) and a current member of the Conduct & Ethics Sub-Committee including a number of the associated Working Groups
Andrew Davidson – Codes & Standards Convergence Sub-Committee member
Karim Haji – Partner Member of the FMSB Advisory Council and former member of the FMSB Board, the Conduct & Ethics Sub-Committee and the Surveillance Working Group. Karim contributed to the drafting of the Statement of Good Practice for Surveillance in Foreign Exchange Markets and to the BCA booklet as well as to the Conduct Risk in Market Transactions Statement of Good Practice
Matthew Jarman – FMSB Secretariat Secondee (former)
Peter Rothwell – Partner Member of the FMSB Board
Bill Michael – former Partner Member of the FMSB Advisory Council
Callum Nasim – 1st Line of Defence Working Group member
Lucas Ocelewicz – Member of the Electronic Trading and Technology Committee and of the Conduct & Ethics Sub-Committee. Lucas is also a member of both the Algo Governance and Conduct & E-Commerce Working Groups.
Peter Rothwell – Partner Member of the FMSB Board
James Sedgwick – FMSB Secretariat Secondee (former)

Linklaters

In addition to being the legal advisors to FMSB, Linklaters team members have provided significant and valuable contributions to the drafting of our Standards and Statements of Good Practice. Michael Kent, who is also the legal advisor to our Board, leads the Linklaters team.

Macfarlanes LLP

Dan Lavender assisted with analysis of the FMSB BCA research and database
Laura Strickland-Palmer assisted with analysis of the FMSB BCA research and database

Oliver Wyman

Catherine Brown – Partner Member of the FMSB Standards Board, member of the Commodities Sub-Committee and member of the BCA Committee. Catherine contributed to the drafting of the BCA booklet and to the Conduct Risk in Market Transactions Statement of Good Practice
James Davis – Member of the Conduct & Ethics Emerging Risks Working Group
Christian Edelmann – Partner Member the FMSB Advisory Council
Serge Gwynne, former Partner Member of the FMSB Standards Board and former member of the Commodities Sub-Committee and the BCA Committee. Serge contributed to the drafting of the Binary Options standard for the Commodities Markets. He also contributed to the drafting of the BCA booklet and to the Conduct Risk in Market Transactions Statement of Good Practice.
Hiten Patel – Member of the Electronic Trading and Technology Committee and the Algo Governance Working Group
Nick Studer – former Partner Member for the FMSB Advisory Council
Jennifer Tsim – Member of the Conduct and Ethics Sub-Committee and the Conduct & Ethics Emerging Risks Working Group.
Marine Warsmann, FMSB Secretariat Secondee (former)

PwC

Rukshan Permal – Member of the Surveillance Working Group and contributed to the drafting of the Statement of Good Practice for Surveillance in Foreign Exchange Markets

Wachtell, Lipton, Rosen & Katz

David B. Anders assisted with analysis of the FMSB BCA research and database
Ian Boczko assisted with analysis of the FMSB BCA research and database

Our Team

The FMSB team is made up of dedicated personnel with years of experience in the financial world.

Mark Yallop (Chair)

Mark is an External Member of the Prudential Regulation Committee and of the Financial Market Infrastructure Board at the Bank of England and Chair of the FICC Markets Standards Board.

The Prudential Regulation Authority is responsible for ensuring the safety and soundness of the major UK based banks and insurance companies and the UK financial system, and the protection of depositors and policy holders. The FICC Markets Standards Board is an industry body, established in 2015 by HMT, the Bank of England and the FCA to improve standards in wholesale fixed income, currency and commodity markets

Prior to this, Mark was from March 2013 to September 2014 UK Group CEO for UBS, responsible for overseeing all UBS’s Investment Banking, Wealth Management and Asset Management activities in this country.

From 2005 to 2011 Mark was Group COO and main board director at ICAP plc. During his time there he built the electronic markets and post trade businesses of the firm, managed the Group’s infrastructure and contributed significantly to the firm's growth and diversification of its business strategy. From 2009-11 he also led a number of initiatives to develop industry and regulatory responses to the 2008 financial crisis.

From 1984 to 2004 Mark was at Morgan Grenfell and then Deutsche Bank, where he was one of the architects of its expansion in investment banking, built and ran as Global Head a number of trading and sales businesses, and served as Global Markets and Corporate and Investment Banking Chief Operating Officer. From 2002 to 2004 he was Deutsche Bank AG Group COO, responsible for managing the Group’s infrastructure and its business rationalisation programme.

Mark serves on the Board of OpenFin, the US technology firm and is a Partner in Illuminate Financial Management, a fintech venture capital business. Previously, Mark served on the board of the International Swaps and Derivatives Association (ISDA) as well as numerous other financial services industry bodies and working groups, and on the Board of the Centre for Social Justice, the Create the Change campaign board for the Francis Crick Institute and chaired the Development Board for University College, Oxford.

Mark read Chemistry at University College, Oxford from 1978‐1982.

David McClean (Senior Technical Advisor)

David McClean has worked in the wholesale financial markets for over thirty years in London, New York and Tokyo. He has held senior trading roles in fixed income and treasury at various investment banks, including Nomura from 1999 to 2005, and UBS from 2005 to 2008; from 2009 to 2014 he worked in investment management, including being a partner at Ruffer LLP. He is a CFA charterholder and has provided expert opinion and consultancy services in several commercial disputes in the financial sector.

Craig Beevers (Senior Technical Advisor)

Craig Beevers has over 25 years of experience in the financial markets, on both the buyside and the wholesale sell side. He has experience trading a variety of interest rate products and structuring a range of interest rate derivatives and other structured products, both as a trader and on the buy side for several major private equity funds. In addition, Craig has spent over 10 years of his career in risk management, including as head of global risk for Nikko Europe (now part of Citigroup). Craig has provided a range of advisory and consultancy services to fund investors and expert testimony on several high profile commercial disputes in the financial markets.

Alison Parker (Office Manager)

Alison Parker joined in November 2018. As the Office Manager, she oversees the operations side of the business, supports the FMSB Secretariat and manages various projects.

Alison qualified as a Chartered Accountant whilst at Coopers and Lybrand before moving to Credit Suisse First Boston (CSFB) where she became the Global Head of Compensation and Executive Compensation. After leaving CSFB, she undertook various freelance compensation consultancy roles, ran various private property businesses and was a partner in her family farming business.

Hanna Mutawa (Administrative Support)

Hanna Mutawa joined FMSB in May 2017 from W4i Investment Advisory Limited. At W4i she supported the company directors and managed the office. Hanna has also held administrative and Human Resource positions at Hope Charity and at Shell Exploration and Production.