The International Securities Services Association (ISSA) has elected a new representative from Credit Suisse to its managing board.
Andrew Luscombe will replace Nicola Kane, the bank’s global head of operations and co-head of operations technology and change, who has agreed to step down at the end of the year.
“I am a great believer in ISSA and the contribution it makes to the financial services industry. I am proud that Credit Suisse and I remain active supporters of the association’s work, and that Andrew Luscombe will take over my position as the bank’s representative,” said Kane.
According to a statement from the ISSA, Luscombe’s dual role as Credit Suisse’s head of group operations for Asia-Pacific and global head of market-facing operations and network, will give him an “excellent grounding in the topics of ISSA’s members”.
Luscombe joined Credit Suisse in Hong Kong in February 2001 and has held management positions in information technology, operations and operational risk based in Hong Kong, Singapore and India.
“I have met Andrew previously during my working career. I know that he is an excellent appointment and look forward to benefiting from his insights and knowledge as a Board member,” added Colin Parry, CEO, ISSA.
With the addition of Luscombe, he joins several other senior industry executives that have been elected to the ISSA board this year, including Standard Chartered’s Margaret Harwood-Jones, Tata Consultancy Services’ (TCS) R Vivekanand, and BNY Mellon’s Caroline Butler.
The organisation also appointed Clearstream’s Philip Brown and UBS’ Vicky Kyproglou as chairman and vice chairman respectively.
Earlier this month, ISSA published a report on the future of securities services where it identified numerous headwinds facing the industry and predicted that revenues will likely decline in the coming years as a result of continued top-line pressures.