Global Head of FX and Commodities Regulatory Change
Allan joined HSBC in July 2014 and leads the development of regulatory solutions across HSBC's Global FX & Commodities businesses and is also responsible for the FX Options Business Management team. Allan is an active participant in a range of Industry Initiatives that cover areas including Trade Reporting, Margin, Clearing and Electronic Execution. With a background in Finance Technology, Allan had responsibility for FX Market Structure Strategy and eFX Options Trading in his previous role at Goldman Sachs.
Attorney and co-lead counsel in In Re Foreign Exchange Benchmark Antitrust Litigation
CHRISTOPHER M. BURKE chairs Scott+Scott's competition practice and sets the Firm's litigation standards. Mr. Burke's principal practice is in complex antitrust litigation, particularly in the financial services industry and he has served as lead counsel in some of the world's largest financial services antitrust matters. He currently sits as a partner in the firm's San Diego and New York offices.
Currently, Mr. Burke is co-lead counsel in In Re Foreign Exchange Benchmark Rates Antitrust Litigation, 13-cv-7789 (S.D.N.Y.) ($2 billion settlement); Alaska Electrical Pension Fund v. Bank of America Corporation, 14-cv-7126 (S.D.N.Y) (ISDAfix litigation) ($325 million settlement); and Axiom Investment Advisors, LLC, by and through its Trustee, Gildor Management LLC v. Barclays Bank PLC, 15-cv-09323 (S.D.N.Y.) ($50 million settlement).
Mr. Burke served as co-lead counsel in Dahl v. Bain Capital Partners, 07-cv-12388 (D. Mass.) ($590.5 million settlement); In re Currency Conversion Antitrust Litigation, MDL No. 1409 (S.D.N.Y.) ($336 million settlement); In re Payment Card Interchange Fee & Merchant Discount Antitrust Litigation, MDL No. 1720 (E.D.N.Y.); LiPuma v. American Express Co., Case No. 1:04-cv-20314 (S.D. Fla.) ($90 million settlement); and was one of the trial counsel in Schwartz v. Visa, Case No. 822505-4 (Alameda Cty. Super. Ct.) ($780 million plaintiff's judgment after six months of trial); and In re Disposable Contact Lens Antitrust Litigation, MDL No. 1030 (M.D. Fla.). Mr. Burke was one of the original lawyers in the Wholesale Elec. Antitrust cases in California, which settled for over $1 billion.
Further, Mr. Burke was trial counsel in Ross v. Bank of America N.A., No. 05-cv-7116, MDL No. 1409 (S.D.N.Y.) and Ross v. American Express Co., No. 04-cv-5723, MDL No. 1409 (S.D.N.Y.). He was also co-lead counsel for indirect purchasers in In re Korean Air Lines Co., Ltd. Antitrust Litigation, MDL No. 1891 (C.D. Cal.) ($86 million settlement), and In re Prudential Ins. Co. of America SGLI/VGLI Contract Litigation, No. 11-md-2208 (D. Mass.) ($40 million settlement). Mr. Burke also organized and filed the first of the In re Credit Default Swap Antitrust Litigation, 13-md-2476 (S.D.N.Y.), matters.
Mr. Burke frequently lectures at professional conferences and CLEs on competition matters, including litigation surrounding financial benchmarks, class-barring arbitration clauses, the effects of Twombly in 12(b)(6) motions, and the increasing use of experts at class certification and trial. In 2014, he was recognized for his exemplary work in the Dahl v. Bain Capital Partners matter by the American Antitrust Institute and has regularly been designated as a Super Lawyer by Thomson Reuters.
Mr. Burke is a graduate of The Ohio State University (B.A. 1984), William & Mary (M.A. 1988), and the University of Wisconsin (M.A. 1989; J.D. 1993; Ph.D. 1996). He has also served as an Assistant Attorney General at the Wisconsin Department of Justice and has lectured on law-related topics, including constitutional law, law and politics, and civil rights at the State University of New York at Buffalo and at the University of Wisconsin. Mr. Burke's book, The Appearance of Equality: Racial Gerrymandering, Redistricting, and the Supreme Court (Greenwood, 1999), examines conflicts over voting rights and political representation within the competing rhetoric of communitarian and liberal strategies of justification.
Mr. Burke is admitted to practice by the Supreme Courts of the States of California, New York, and Wisconsin, and numerous United States District Courts and Courts of Appeal.
Chief Market Strategist, Europe
JP MORGAN ASSET MANAGEMENT
Stephanie Flanders, Managing Director, is the Chief Market Strategist for the UK and Europe for J.P. Morgan Asset Management. She delivers insight into the economy and financial markets to thousands of professional investors across the UK, Europe and globally.
Stephanie was previously the Economics Editor at the BBC, where her analysis and on-air commentary were widely respected and broadcast around the world. In this role she also hosted her own economics discussion show, ‘Stephanomics', named after her influential blog.
Prior to joining the BBC in 2002, she worked as a reporter at the New York Times, and a speechwriter and senior advisor to US Treasury Secretaries Robert Rubin and Lawrence Summers in the second Clinton Administration, when she was closely involved in the management of the 1997-8 emerging market financial crises. She has also been a Financial Times leader-writer and columnist, and an economist at the Institute for Fiscal Studies and the London Business School. She was a scholar at Balliol College, University
of Oxford, where she obtained a first class degree, and attended Harvard University as a Kennedy Scholar at the Kennedy School of Government.
Independent and former CEO
Gil Mandelzis was Chief Executive Officer at EBS BrokerTec, ICAP's electronic foreign exchange and fixed income business through October 2016. Gil has been CEO of EBS since 2012, and added BrokerTec in 2015 to run ICAP's Electronic Markets. Gil was also a member of ICAP's Global Executive Management Group since 2009.
Prior to EBS-BrokerTec, Gil was the CEO of Traiana, a company he founded in 2000. Gil led Traiana's growth from a small start-up to a recognised global leader in post-trade services, resulting in Traiana's acquisition by ICAP in 2007.
Gil was a member of the New York Federal Reserve's Foreign Exchange Committee, the Bank of England's Joint Standing Committee and the Bank of Canada Foreign Exchange Committee.
In 2012 he was awarded by FX Week the e-FX achievement award in recognition of his lasting contribution to the development of the FX industry, and in 2013 he was inducted to Profit & Loss Magazine's FX Hall of Fame.
Gil began his career as a management consultant at Shaldor Ltd. in Israel and worked as an investment banker at Deutsche Bank following the acquisition of Bankers Trust.
Gil is involved in several charitable missions including Chai Lifeline, an organization focused on the support of families whose children suffer from cancer or terminal illnesses, and the Mehalev project for addressing Child Abuse in Israel.
He holds a BA in Management and Sociology from Tel-Aviv University (Magna Cum Laude) and an MBA (With Distinction) from INSEAD in Fontainebleau, France.
STATE STREET GLOBAL ADVISORS
Dr. Christopher Probyn is currently the Chief Economist at State Street Global Advisors in Boston. In this role Chris is primarily responsible for forecasting and analyzing economic events in the world's major economies, and for evaluating their impacts on financial markets. Chris regularly briefs fixed-income and equity portfolio managers, as well as other corporate personnel on economic matters. He also frequently interacts with clients, preparing and delivering talks on the global economic environment. Previously, Chris was a Director, and Senior Economist at UBS in New York City. He has also worked at Midland Bank International in London, Data Resources in Lexington Massachusetts, and Salomon Brothers, in both London and New York City. Dr. Probyn obtained his BA at Heriot-Watt University, Edinburgh, his MA from the University of Manchester, and his Ph.D. from the London School of Economics.
MARKET PARTICIPANTS GROUP
David Puth joined CLS as CEO in August 2012 and is a member of the Board of CLS Group Holdings.
In addition to his role at CLS, Mr. Puth chairs the Market Participants Group, established to work with the Bank for International Settlements (BIS) Foreign Exchange Working Group (FXWG) in strengthening code of conduct standards and principles in foreign exchange markets.
Mr. Puth's career spans more than three decades in financial markets, including 19 years at J.P. Morgan where he served in a variety of senior global leadership roles with oversight of the bank's FX, interest rate derivatives, commodities and emerging markets businesses. He also served as a member of JPMorgan Chase's Executive Committee. After leaving J.P. Morgan in 2007, he founded The Eriska Group, a New York‐based risk management consulting organization. From 2008 through 2011, Mr. Puth worked at State Street, where he was head of Global Markets responsible for sales, trading and investment research across multiple asset classes, including FX, and for Currenex, the firm's electronic FX brokerage business. Mr. Puth was also a member of the Foreign Exchange Committee of the Federal Reserve Bank of New York, which he chaired from 1999 to 2002, and has served on the board of directors of both CME Group and ICAP. In addition, he is a member of the Bank of England's Foreign Exchange Joint Standing Committee, and the Office of Financial Research's Financial Research Advisory Committee.
Outside of the industry, Mr. Puth serves on a number of boards in support of education and the arts, including the Institute for Global Leadership at Tufts University and the Institute for Contemporary Art in Boston. He is also a longstanding board member of the Robin Hood Foundation in New York.
Isaac Lieberman founded Aston Capital Management as a quantitative hedge fund in November 2013. As a veteran trader of proprietary quantitative strategies, Isaac has more than 20 years of experience trading in global FX and Fixed Income markets. Prior to founding Aston Capital Management, Isaac was Managing Director at J.P. Morgan where he was the Head of Algorithmic Trading and the Head of Electronic FX Options Trading. Before joining J.P Morgan in 2008, Isaac was Head of the FX and Fixed Income division in the Principal Strategies Group at Bear Stearns where he worked from 1996.
Global Market Strategist
Kristina Hooper is the Global Market Strategist at Invesco. She has 21 years of investment industry experience.
Prior to joining Invesco, Ms. Hooper was the US investment strategist at Allianz Global Investors. Prior to Allianz, she held positions at PIMCO Funds, UBS (formerly PaineWebber) and MetLife. She has regularly been quoted in The Wall Street Journal, The New York Times, Reuters and other financial news publications. She was featured on the cover of the January 2015 issue of Kiplinger's magazine, and has appeared regularly on CNBC and Reuters TV.
Ms. Hooper earned a BA degree, cum laude, from Wellesley College; a J.D. from Pace University School of Law, where she was a Trustees' Merit Scholar; an MBA in finance from New York University, Leonard N. Stern School of Business, where she was a teaching fellow in macroeconomics and organizational behavior; and a master's degree from the Cornell University School of Industrial and Labor Relations, where she focused on labor economics.
Ms. Hooper holds the Certified Financial Planner, Chartered Alternative Investment Analyst, Certified Investment Management Analyst and Chartered Financial Consultant designations. She serves on the board of trustees of the Foundation for Financial Planning, which is the pro bono arm of the financial planning industry, and Hour Children.
Former Global Head of FX, Rates and Credit at Thomson Reuters
Phil is a Financial Executive who has led companies through successful stages of corporate development including start-up ideation, attracting strategic investors, capital raising from the private equity community, acquisitions, public offering, company sale, merger integration, and turn around.
He founded FXall, the #1 Business-to-Business Foreign Exchange Platform. Under his leadership, he grew the company from the development of its business plan to a firm with over 1,300 customers, $125M in Revenues, and Margins nearing 50%, through the thoughtful selection, development, and engagement of 150 talented employees across five continents. After a successful IPO and subsequent sale of the company to Thomson Reuters, Phil ran their multi-billion dollar FX, Rates and Credit business. Phil cut his teeth as Managing Director, Global FX Derivatives Trading at JP Morgan in London and NY.
Both Phil and the businesses he has managed have always won accolades including his inclusion in the Institutional Investor Trading Technology Top 40, inauguration into Profit and Loss Magazine Hall of Fame, and FXall's #1 placement in the Euromoney Survey of Electronic Trading Platforms for more than ten years.
In his most recent role, Phil turned around Thomson Reuters FX, Rates and Credit business after successfully integrating FXall, by modernizing their product portfolio into one single, powerful, consolidated offering that combined data and analytics, order management workflow and trusted execution capabilities for asset managers, corporate treasurers, banks and alternative market makers. In addition, he successfully navigated the transition to a regulated OTC market with higher standards by actively shaping financial regulatory reform resulting in the earliest approval of the TR SEF by the CFTC and #1 Position in the Dealer to Client FX SEF market share measured by Claris.
Changes under his leadership resulted in growth of number of clients using FICC trading services of 25%, a reversal in multi-year decline in premium desktop usage, stabilization of revenues, cost reduction of 20% and improvements in credibility by institutional market participants as measured by likelihood to recommend scores.
He was selected to participate in industry groups including FX Committees of the Federal Reserve Bank of NY and Bank of England, UK FCA Fair and Effective Markets review, CFTC Global Markets Advisory Subcommittee on NDF Clearing, and FX Global Code Market Participants Group of the BIS.
He received a Bachelor's of Electrical Engineering from The Cooper Union and an MBA in Finance and International Business from NYU.
Phil is also involved in leadership of philanthropic causes as a Board Member at the Tisch MS Research Center, Member of the President's Council of The Cooper Union, and Board Member of Park East Day School.
Phil resides in New York with Alla his wife and his two children Mike and Hannah.
Head of Investment Strategy
Sinead M. Colton is the head of investment strategy at Mellon Capital and a portfolio manager for the Dreyfus Dynamic Total Return Fund. She represents Mellon Capital's investment capabilities to clients and consultants, and partners with clients to design global multi-asset solutions.
Sinead has been in the investment industry since 1994. Prior to joining Mellon Capital in 2012, she served as managing director of investment strategy in the Multi Asset Client Solutions team at BlackRock and designed tailored investment solutions for institutional clients in the UK and Continental Europe at Barclays Global Investors. Previous roles include head of currency at Invesco, where she was responsible for active currency strategies across the global fixed income team; head of portfolio management at Lee Overlay Partners; currency portfolio manager at JP Morgan Investment Management; and foreign exchange and options salesperson at Chase Manhattan Bank.
Sinead is a member of the Investment Management Committee, the Investment Research Committee, and the Senior Management Group.
Sinead earned an MSc in finance from University of London and a BBS in finance from Dublin City University in Ireland
Managing Director, Americas, FX Division
Victoria Cumings is the Americas representative of the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA).
Since its establishment, the GFXD has grown to 24 members, between them accounting for over 90% of the global FX market, and is represented in Europe, North America and Asia. The GFXD works with key regulators, Central Banks and other interested parties to monitor policy and regulatory developments that could affect the FX markets and seeks to ensure the establishment of harmonised regimes and infrastructure to enable an effective market for all participants.
Victoria is responsible for regulatory issues in the Americas and for a number of global GFXD topics, in areas including capital, margin and clearing.
Victoria is a former attorney and has previously held positions at CLS Bank, HSBC, Davis Polk, and McCullough Robertson.
Senior Managing Director
Adil has 26 years of experience in the markets. He received an M.A. in pure mathematics from MIT and B.A. in mathematics from University of Pennsylvania. He spent the first half of his career trading fixed income derivatives at JP Morgan, Nikko, Nomura, and Barclays. At Nomura and Barclays, he ran the systems and analytics groups for these products. He subsequently joined Capital Market Risk Advisors as a Senior Advisor specializing in structured products and hedge fund valuation. He joined Protégé in 2003 and specializes in risk measurement as well as quantitative and relative value strategies. Adil used geometry to invent the Bias Ratio, a metric that detects return smoothing by active managers.
Before co-founding TraderTools in 1997, Mr. Heidingsfeld established and operated a private equity hedge fund, specializing in foreign exchange, interest rate and index option trading. Aside from actively trading in foreign exchange and options markets, he gained extensive software experience from design to implementation. Prior to that, he was a trader at Oscar Gruss and Son Inc. and an investment counselor for that firm in Tel Aviv, and held positions at the head office of Israel Discount Bank in Tel Aviv and at Standard & Poor's in New York. He holds a BA in Business Administration and International Finance from the Bernard M. Baruch College of Business of the City University of New York.
Global Head of Emerging Markets Fixed Income Strategy
Gordian is a Managing Director and Global Head of EM Fixed Income Strategy, based in New York. He is responsible for the development of macro views, trade ideas and portfolio allocation across EM local markets and sovereign debt.
He re-joined Morgan Stanley in 2015 after having worked at two New York-based investment banks for 9 years, most recently as Chief Strategist and Head of Latin America Fixed Income Research at HSBC. He and his team have been top ranked multiple times in LatAm sovereign debt and local market surveys (including Institutional Investor and Euromoney). From 2000 to 2006, he worked at Morgan Stanley as an EM Strategist in New York and as a European rate strategist in London. Prior to that, he spent five years working in academia at the University of Mannheim, Germany, where he taught graduate finance classes.
He holds a Master's degree in Economics from the University of Konstanz, Germany and has conducted Ph.D level research in Finance at the University of Mannheim.
Portfolio Manager and Partner
COMMODITY ASSET MANAGEMENT
Nate joined Commodity Asset Management in 2016 as a Portfolio Manager and Partner. Nate began his career at Goldman, Sachs, & Co. as an equity derivatives and options trader. Subsequently, Nate held leadership roles at multiple distinguished asset managers, including Bridgewater Associates and AQR Capital Management. Nate serves on the board of the Washington Heights and Inwood Community Council, as well as on the Mount Sinai Investment Advisory Committee. Outside of investing, Nate utilizes multifactor statistical models to forecast NASCAR race outcomes, and has ranked in the top 1% worldwide. Nate is Series 3, 7, 24, 55, and 63 licensed.
Chief Investment Strategist
Ms. MacDonald is Chief Investment Strategist at Bessemer Trust. In this role, she is responsible for performing in-depth macroeconomic research and financial market analysis, as well as asset allocation and strategy recommendations to help optimize client portfolios. She is also a co-portfolio manager of the Large Cap Strategies and Small & Mid Cap Strategies mandates.
Prior to joining Bessemer, Holly worked in various functions in the Fixed Income and Currencies groups at J.P. Morgan, most recently as Managing Director in the Emerging Markets and Global Currency Strategy groups.
She serves on the Board of Directors of Agora Partnerships and is a co-founder of the New York Chapter of Room to Read. In 2010, Holly was recognized as a "Rising Star" by the Women's Bond Club.
Holly earned an M.B.A., with honors, from Columbia University and a B.A. in philosophy, magna cum laude, from Princeton University, from which she also earned minor equivalents in finance and in Spanish language and culture.
Peter Kilbinger Hansen is the Chairman of Battea - Class Action Services, LLC and Chairman of the Evest Companies. In his twenty-plus year career, he has founded several private and public companies (listed in AMEX and NASDAQ), including broker/dealers, a clearing corporation, and a leading US equity institutional stock-crossing Alternative Trading System (ATS). Under his leadership, the businesses processed significant daily market share volume, with daily transaction volumes in the billions. Over the past 15 years, Peter has been a featured speaker for many brokerage and institutional investor conferences, discussing modernization of the equity marketplace, equity transaction processing, transaction cost, and effectively locating liquidity for transactions. He has also been featured on CNN globally, speaking on the topic of risk management. With significant global operations, compliance and financial transaction processing experience, he has led several equity financings, including public and private offerings, and successful financings with major investment banks including Morgan Stanley, Lehman Brothers, JP Morgan, UBS, Société Générale, Deutsche Bank, Wachovia, and ING. He has also led several acquisitions and divestitures. As a private investor and financial technology entrepreneur, he continues to invest in financial services and technology companies. A native of Denmark, Mr. Hansen holds economics degrees from Neil's Brock Business School of Copenhagen and the Copenhagen University of Language and Economics.
Chief Operating Officer
Ed Hughes is Chief Operating Officer for LCH's FX clearing service, ForexClear.
In his role as COO, Ed has been involved in the ForexClear business since its earliest days when he helped build and launch the service in 2012, before moving to his current role in 2013.
Prior to starting at LCH in 2007, Ed worked in management consultancy and previously as an engineer.
Ed graduated with a Civil Engineering degree from Imperial College, London, and an MBA from Durham University.
Chief Economist, EM Managed Debt Funds
VAN ECK GLOBAL
Dr Natalia Gurushina is Chief Economist for EM Managed Debt Funds at VanEck. Until joining VanEck in 2013, Dr Gurushina worked at Roubini Global Economics as head of Emerging Markets Strategy and G10 FX Strategy. Dr Gurushina also held positions at Pantera Capital (a global macro hedge fund), Deutsche Bank (London) and Bankers Trust (Moscow). Dr Gurushina received a B.A. (Economics) in 1989 from Moscow State University and a DPhil (Economic History) in 1995 from Oxford University.
Director, Senior Currency Strategist
WELLS FARGO SECURITIES
Eric Viloria is a director and senior currency strategist for Wells Fargo Securities, LLC.
Eric offers foreign exchange market analysis to help customers manage the risks and opportunities of operating and investing in these markets. In addition, Eric contributes to daily and monthly commentary on foreign exchange markets through several Wells Fargo publications. Prior to his current position, he was a senior currency strategist at Gain Capital in New York.
Eric is a CFA charterholder and CMT charterholder. He is also a member of the CFA Institute, the New York Society of Securities Analysts, and the Market Technicians Association. Eric obtained an M.B.A. from the Leonard N. Stern School of Business at New York University with a concentration in quantitative finance. He also holds a B.A. in economics from Rutgers University. He has been quoted in financial publications such as The Wall Street Journal, and appears frequently in financial media broadcasts such as Bloomberg and CNBC.