Chief Executive Officer: Kevin McNulty

kevin mcnulty webemail small

Kevin McNulty is the Chief Executive of the International Securities Lending Association. He  has worked in the securities lending industry for many years both in the UK  and the US. Prior to joining ISLA in August 2009, he worked for Barclays Global Investors where he ran the securities lending business in Europe and North America. Kevin is a past Chairman of the Association and a fellow of the Association of Chartered Certified Accountants.


 CEO-ISLA International Securities Lending Association



Chief Operating Officer: Andrew Dyson



In March 2013, Andrew became the Chief Operating Officer of the International Securities Lending Association (ISLA).  Previously, Andrew held  the
role of Director Specialist Sales and Head of Account Management, Europe, Middle East and Africa at Data Explorers, now Markit Securities Finance, where he was instrumental in the development of the group’s securities lending risk services as well as day to day responsibility for the groups
business in Europe.

Andy joined Data Explorers from Prudential M&G, where he was Head of Business Development and Risk for Securities Lending with responsibility for sales, marketing and product development. He was also directly responsible for Risk and the management of the team’s discrete IT resources.
All aspects of legal and compliance also fell within his area of responsibility. Prior to his appointment at M&G Prudential Andrew had worked at Deutsche Bank for ten years. During his time at Deutsche he held senior marketing and product development positions within the Agency Securities Lending Business and also spent four years as Repo Product Manager where he was instrumental in the development of the banks fixed income repo franchise
including the deployment of front-office risk management tools. He was also was heavily involved in the deployment of e commerce solutions for both clients and counterparts. He joined Deutsche in 1992 from HSBC, where he had previously worked extensively in the commercial bank and corporate finance areas of the business.

 COO- ISLA International Securities Lending Association





Chairman : Andy Krangel ( Citi Bank)


Andy is a Director in Citi’s Agency Securities Finance business and is EMEA Head of Securities Finance Product Management and also manages the business’s global product development team.Andy joined Citi in 1989 and during this time has held various management positions in custody operations including agency lending operations, was a trader on the Citi agency lending desk and spent 5 years in Product Risk Management where he obtained Credit Officer status. Prior to Citi Andy was at RBS for 3 years. Since mid 2006 Andy has worked in Citi's Agency Securities Finance department.


Director, EMEA Head of Securities Finance Product Management, Citi Bank




Treasurer: Ian Hovey  (StateStreet)





Ian is currently head of Securities Finance Product Development for the EMEA region at State Street Bank and Trust Company. Based in London, he has been involved in the securities finance business for more than 25 years, working for three different organisations during this time.Ian is a previous Chairman of the Association and has been the Associations Treasurer for the last 10 years.He also Co-Chairs the ISLA Legal and Regulatory Sub Group.


Head of Securities Finance Product Development for the EMEA region at State Street Bank and Trust Company 


Board Member: Mohamed Moursy ( ABN AMRO)



Mohamed is Executive Director of ABN AMRO Markets UK Ltd. He is responsible for managing market securities finance team and has more than 30 years of broad experience in the securities industry.

Prior to joining ABN he held senior positions in various roles with The Bank of New York Capital Markets, Fleet Securities, Paine Webber and Lehman Brothers.   His experience in the securities lending industry goes back to 1988 when he joined Lehman brothers as Director of Operation when the firm was establishing its UK securities lending operation. Before 1988 Mohamed was Senior Vice President of Moseley Securities Corp, Chief Accountant of Al-Mal Group and held other banking positions in the city.


Chief Executive Officer
ABN AMRO Markets  UK Ltd





Board Member : Mick Chadwick (Aviva Investors)

mick chadwick

Since 2006 Mick has been the Head of Trading for the Securities Finance business of Aviva Investors,the asset management arm of the Aviva Insurance Group with over £220 billion in funds under management.
The Aviva Investors securities finance desk has the mandate to undertake securities lending, repo and related transactions in both fixed income and equity markets on behalf of all entities within the Aviva Group.

Prior to joining Aviva Investors,Mick spent most of his career as a borrower in the fixed income markets, working for various banks and investment banks. He designed, built and ran the European repo businesses of Lehman Brothers (1986-1991), UBS (1991-2000) and HBOS Treasury Services (2000-2005).In addition to various professional qualifications, Mick holds a degree in Mathematics from St Peter’s College Oxford.

  Head of Trading for the Securities Finance business of Aviva Investors




Board Member: Stefan Kaiser  (BlackRock)

Kaiser Stefan web 

Stefan Kaiser, Managing Director, is responsible for clients and business strategy in EMEA and Asia within BlackRock's Securities Lending & Financing Group. This includes all securities lending client relationships across Retail, ETF and Institutional clients as well as business strategy and regulatory engagement.

Mr. Kaiser's service with the firm dates back to 2005, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Prior to joining BGI, Mr. Kaiser worked for Commerzbank in various positions in Shanghai, Singapore, Frankfurt and London.
Mr. Kaiser earned a BA degree in finance from University of Cooperative Education Mosbach in 2002 and an MSc in business management and economics from University of Trier, Germany in 2005.


Managing Director 

Board Member:Robert Lees  ( BBH)



R Lees web

Robert Lees serves as Head of Global Securities Lending Trading for Europe and Asia for Brown Brothers Harriman (BBH).  Mr. Lees has been with the firm for ten years and has held senior positions on BBH’s trading desks in Boston, London and Hong Kong.  He was previously employed by Goldman Sachs International within the Wealth Management Division providing support services to institutional clients

Mr. Lees has represented BBH on the Executive Committee of the Pan Asia Securities Lending Association (PASLA).  He is also a member of the board of the International Securities Lending Association.  Mr. Lees received his Master of Arts in Economics with Honors from the University of Glasgow and holds a Masters in Business and Management from the University of Strathclyde Graduate Business School.


Vice President
Head of Global Securities Lending Trading – Europe & Asia London 




Board Member: Anthony Duggan ( Goldman Sachs)
Anthony Duggan

Anthony has worked in the securities finance industry for the past 14 years and has a wide breadth of experience and comprehensive understanding of the international securities lending market from both a supply and demand perspective. He has worked in both London and New York and actively traded markets in Europe, the US, Asia and Emerging Markets. He joined Goldman Sachs in July 2008 and is responsible for the International Supply team.




Board Member: Roy Zimmerhansl   (HSBC )   


In March 2013 Roy Zimmerhansl was appointed Global Head of Securities Lending at HSBC Securities Services (HSS) and is responsible for leading the agency lending activity for clients of the bank’s custody business.

Prior to this, Roy was an independent consultant, owner of FinTuition, the leading financial services training company, and product specialist at Trading Apps. With over 30 years in the securities industry, Roy has held senior securities finance and custody positions across a range of market leading organisations including custodian banks, proprietary trading firms, prime brokers, a multilateral trading facility, and a central depository.



Global Head of Securities Lending, HSBC Securities Services




Board Member: Laura Allen ( J P Morgan) 



Laura joined J.P.Morgan in 2011 as Head of European Supply with a mandate to expand and evolve their security borrowing operations. Prior to this she ran Global Equity Finance Sales & Marketing at UBS (1998-2011) and previously set up and ran the International Equity Finance business at CIBC Wood Gundy.

She has been in the securities borrowing and lending industry for over 20 years with proven experience both implementing and running an international equity finance operation and has built strong relationships across the European space.





Board Member: Martina Szameitat  ( Morgan Stanley )

martina szameitatemailsmall



Martina is a Managing Director and Morgan Stanley's Global Head of BRM Sales and Marketing for secured financing and securities lending products.

Martina joined Morgan Stanley in 1992, starting in Corporate Treasury and moving to securities lending in 2003, when she was asked to manage the Firm’s Frankfurt-based Equity Financing desk covering Germany, Switzerland and Austria. From 2008, Martina was the Head of the European Securities Lending desk located in the Morgan Stanley London Office. Her primary objective is to build strong client relationships, dedicated client coverage and a reliable back office operation, in order to improve the platform and grow the Firm’s securities lending, financing & synthetics business.  

Prior to joining Morgan Stanley, Martina spent 5 years in London with Deutsche Bank and Unicredito (formerly: Bayerische Vereinsbank).



Martina Szameitat, Global Head of Bank Resource Management (BRM) Sales and Marketing 




Board Member: Mark Newton  ( Barclays  )


Mark Newton joined Barclays in 2009 to head their Cash Equity Financing business in EMEA, responsible for the securities lending, secured financing, and Prime Brokerage portfolio trading in the region. Additional responsibility includes the building and management of the institutional client agenda and related business vendor relationships. Prior to this, Mark was in Equity Finance Trading at Citi and Goldman Sachs, both in London and has over 12 years industry experience.  


 Head of  EMEA  Cash Equity Financing


 Board Member: David Raccat  ( BNP Paribas Securities )



David is a graduate from HEC Business School and joined Paribas in 1996 in the product development team, covering tri-party collateral management, equity repo, and implementation of securities lending in new markets. He has been appointed Head of Paris Cash & Equity Financing Desk in 2001, and has taken in charge Global Treasury in 2005.Head of Global Markets since 2011, covering Forex (FX), Short-Term Interest Rates (STIR), Equity Lending and Agency Lending, with desks in Asia, Europe and US



 Head of  Global Markets 




Board Member: Casey Whymark (UBS AG)

Casey Whymark 1


Casey is the co-head of Securities Lending for UBS AG.  He is responsible for the front to back operation, sales & trading and development of UBS’ securities lending program offered to UBS clients and third parties under the firms white label solution. He oversees both product supply and distribution, providing automated OTC lending solutions to clients globally. Since 2012, his role expanded to include the lending product offered to UBS clients in both Hong Kong and Singapore. Prior to joining UBS in 2004, Casey held a variety of positions within Prime Services at Credit Suisse in London, New York and Zurich and has broad experience in the securities finance industry taken from nearly 20 years acting as Prime Broker, Agent and Principal lender within investment banks, brokerage firms and private banks.

Managing Director –Co-Head of Securities Lending and Financing



Board Member:  Roelof Van Der Struik (PGGM)



Roelof van der Struik joined PGGM in June 1998 as Buyer with focus on investments related contracts. Between 2001 and 2008 he was manager of the Payments and Settlements department. Currently he is Investment Manager with the Front Office Treasury department at PGGM. Roelof is 50 years of age. Holds a bachelor in business administration and is Certified Purchaser.

Investment Analyst-Manager




Board Member: Arne Theia- UniCredit Bank

Arne Theia








Managing Director at UniCredit's Corporate and Investment Banking. Arne  is responsible for repo and collateral trading at UniCredit Bank Germany AG in Munich which is part of the UniCredit Group. UniCredit is one of the largest continental banks focusing on central and eastern Europe. As a retail bank with a large capital market operation UniCredit is not a typical agent lender or borrower but is a major player in the securities finance markets including securities lending. His current role is more on the rates, treasury, fixed income side. A member of the advisory board of Eurex Germany in Frankurt and LCH Clearnet in London .Previous roles include,UBS Investment Bank, Frankfurt, Head of Short Term Rates (1994 – 1997), HSBC Trinkaus, Duesseldorf, Repo and Securities Lending (1991 – 1993)



Managing Director