ISDA today announced that two new directors have joined its Board of Directors.
The new directors are:
Tina Hasenpusch, Managing Director, Global Head of Clearing House Operations, CME Group
Taihei Okabe, Managing Director, Head of Derivatives Trading, Mizuho Securities Co., Ltd.
“We are very fortunate to have two such highly experienced, senior market professionals join the ISDA Board. As we deal with and absorb the lessons from the coronavirus outbreak, Tina and Okabe-san’s input and insight will be extremely valuable in helping to ensure the derivatives market continues to be safe and efficient,” said Eric Litvack, ISDA’s Chairman.
Ms. Hasenpusch joins Daniel Maguire, Group Director, Post Trade, London Stock Exchange Group, and Erik Tim Mueller, Chief Executive Officer of Eurex Clearing AG, as central counterparty (CCP) representatives on the ISDA Board. Mr. Maguire’s term on the Board is set to expire at the ISDA Annual General Meeting (AGM) in Madrid on November 3-5, as part of a regular rotation of CCP seats after each serves a two-year term. However, the Board expects to extend Mr. Maguire’s tenure for another term at the AGM, meaning three CCPs will temporarily serve on the Board for the next two years.
“The derivatives industry faces a number of critical challenges over the next two years, including the transition from interbank offered rates to risk-free rates, and a review of market structure in response to the coronavirus pandemic. Given these issues, the ISDA Board feels it is vital to maintain continuity of Board members as far as possible, and ensure the leading infrastructure providers play a central role in these discussions,” said Scott O’Malia, ISDA’s Chief Executive Officer.
Mr. Okabe replaces Yutaka Amagi, Managing Director and Head of Global Markets Planning Division at MUFG Bank, Ltd., as part of ISDA’s commitment to promoting a geographically diverse membership.
The election of other primary member Board directors and the appointment of subscriber and associate directors will take place at the AGM in November.
Biographies of the new directors:
Tina Hasenpusch is Managing Director and Global Head of Clearing House Operations at CME Group, and also serves as a member of CME Group’s Clearing House Management Team. Before assuming this role in July 2017, she was Chief Executive Officer of CME Clearing Europe from June 2015.
Ms. Hasenpusch joined CME in September 2009, initially as Head of Clearing & Business Development at CME Clearing Europe. She previously held roles at Barclays Capital and Eurex.
Taihei Okabe is Managing Director and Head of Derivatives Trading at Mizuho Securities, a role he assumed this year, having previously been Head of Rates Derivatives Trading from 2018.
Mr. Okabe was formerly a Corporate Officer in the Global Market Coordination Division at Mizuho Financial Group in Tokyo. Before that, he was Head of the Derivatives Product Group in the European Treasury Division at Mizuho Bank in London between April 2011 and January 2016. He joined Mizuho Financial Group in April 1997.