At its 2005 Annual General Meeting on 19 May, Richard Steele of JPMorgan Worldwide Securities Services was elected the new chairman of the International Securities Lending Association (ISLA).
A securities lending veteran of almost twenty years, Richard has served on ISLA’s Executive Committee since 2001 and was elected Deputy Chair in 2003.
Speaking after his election, Richard paid tribute to Mark Hutchings, the outgoing chairman. “Over the two year’s of Mark’s stewardship, ISLA has made tremendous progress in firmly establishing itself as the voice for the securities lending industry. Membership has grown by over 50% and the recent change in the Association’s constitution has allowed borrowers to join for the first time. I am delighted that so many have already signed up and that the elections also produced their first representative on the executive committee.”
With over 16 years securities lending industry experience, Richard has been with JPMorgan for seven years and was previously a director at King & Shaxson Ltd, a UK securities lending and money market intermediary. He holds a degree in Modern History from the University of St Andrews.