Securities Lending association names BNY Mellon executive as its first female chair

New board of directors includes BNY Mellon EMEA securities finance product and strategy head as chairperson.

By Jonathan Watkins

The International Securities Lending Association (ISLA) has announced a new board of directors which includes the appointment of BNY Mellon’s Ina Budh-Raja as its first ever female chairperson. 

Budh-Raja operates as EMEA head of product and strategy, securities finance & markets, ESG at BNY Mellon and has been with the custodian since 2018 after joining from State Street. 

ISLA is an industry trade body representing the common interests of securities lending and financing market participants across EMEA.  

Among its other new directors are Jonathan Lombardo of Eurex as ex-officio and Alessandro Cozzani of Bank of America as vice chair. 

Philip Winter of Citi will operate as treasurer. The newly elected group will serve for a three-year term. 

ISLA noted that the 15 officers and directors, who represent a geographically as well as functionally diverse group of member firms from across the securities lending and financing industry, will build upon the great work of the previous board.  

Working closely with the Association’s senior management team, they will continue to ensure that ISLA’s strategy remains progressive, and meets the demands of its ever growing and evolving membership, as well as society more broadly. 

“Delighted to be re-elected as a director, and truly humbled and thrilled to be the first chairwoman of the ISLA board since the Association was established some 35 years ago,” said Budh-Raja. 

“The last term gave me the opportunity to bring my combined legal and product experience to the table in a wider industry context, and am now very much looking forward to building on the great work that Jonathan led-on during his tenure in this capacity. The strength of experience and diversity of skillsets within the group is immense, and provides a strong foundation, as we navigate unprecedented evolution in our market.”