A former 16-year veteran for State Street has joined securities finance trading body, the International Securities Lending Association (ISLA), as its new head of finance.
Jamila Jeffcoate will be joining the senior management team of the organisation in February as head of finance and administration, as well as chief of staff.
Following the appointment of Jeffcoate, ISLA plans to fill a number of key senior positions this year that will enable it to deliver on several projects and initiatives, such as helping firms comply with the Securities Finance Transitions Regulation (SFTR) which comes into force in April.
“I am thrilled to have Jamila join the Association, and assume day to day responsibility for the business. Her knowledge and experience within the industry are unrivalled, and she will therefore be able to add considerable value to all aspects of the work we do,” said Andrew Dyson, CEO, ISLA.
Jeffcoate was previously the EMEA head of agency securities lending for State Street, where she was responsible for trading and relationship management functions in the region.
She also led the implementation of the bank’s enhanced custody business in 2013, providing financing services to hedge funds as an alternative to traditional prime brokers.
However, in February last year she was among a group of four senior executives that were dismissed from the bank, after its securities finance business became one of the worst performing divisions.
A spokesperson at the time of the departures said the moves were down to “restructuring… to move towards a more integrated and agile model”, and did not provide any reasons behind the dismissals.