The International Capital Market Association (ICMA) has appointed Fermn Cifuentes of Banco Espaol de Crdito, S.A (Banesto) to the board of the ICMA.
Cifuentes, managing director in the Banesto Treasury and Capital Markets area, is currently responsible for the documentation and compliance unit at Banesto, which he joined in 2001 after 14 years in senior positions at various US banks. Cifuentes brings to the board both experience of continuous market innovation in fixed income from Banesto and knowledge gained as an active member of ICMAs Regulatory Policy Committee for the last two years.
The other members of the ICMA board are: Giuseppe Distefano, Fair Advisory SA; Robert B. Gray, HSBC Bank; Martin Gut, Credit Suisse; Paul Hearn, BNP Paribas; Walter M. Henniges, Deutsche Bank AG; Ren Karsenti, ICMA; Brian M. Lawson, Nomura International; Martin Lee-Warner, Raiffeisen Zentralbank sterreich; Richard Levy, Goldman Sachs International; Andreas Luethi, Sarasin Rabo Investment Management; David Marks , J.P. Morgan Securities; Hans-Joerg Rudloff, Barclays Capital Securities; Martin Scheck, UBS; Rutger V.C. Schellens, Coperatieve Centrale Raiffeisen-Boerenleenbank; Geert J.A.I. Van der Heyden, Fortis Bank.
ICMA is the self-regulatory organisation and trade association which represents constituents and practitioners in the international capital market worldwide with around 400 members distributed in 49 countries. It has played a central role in the development of the international debt market by providing a stable self-regulatory framework of rules governing market practice.
The IPMA Handbook and the ICMA Rulebook, together with the standard legal agreement governing activity in the repo market, are amongst the assocations major contributions to market development.