Sunil Daswani, Regional Manager for Securities Lending in Asia for Northern Trust Global Investments (NTGI), has been elected the new chairman of the Pan Asia Securities Lending Association (PASLA).
Mr Daswani, who re-located to Hong Kong from London in October 2004, will serve as Chairman for one year, having been elected by the executive members of PASLA. He replaces David Timpany, who also worked for Northern Trust and has since retired.
Daswani commented, “It is a great honour to be elected by my fellow industry professionals to act as Chairman of PASLA for the next year. I am very much looking forward to contributing to the success of PASLA and helping to increase its influence and voice in the securities lending industry across Asia. Since its launch in 1995, PASLA has fulfilled a major role in educating the industry participants on securities lending and the many benefits that it can offer investors. My aim as Chairman of PASLA this year is to continue this initiative with a view to aligning the Asian securities lending market with the more mature global securities lending markets with the support of the International Securities Lending Association (ISLA) and the Risk Management Association (RMA).”
Andy Clayton, Head of Non-US Securities Lending at NTGI, said “This is a tremendous recognition of the immediate impact Sunil has made in the Asia securities lending industry since his move to the region last year and demonstrates the high regard in which he is held by his industry peers. As an industry leader, it also further emphasises Northern Trust’s commitment to the region and we wish Sunil well in this role.”