IOSCO
Technical Committee
Conference 2006

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Panellists & speakers

Ed Balls MP

Economic Secretary

Ed Balls MP was appointed Economic Secretary to the Treasury on 5 May 2006.  He has been a Member of Parliament for Normanton since 2005.

Mr Balls was born in 1967 and educated at Nottingham High School; Keble College, Oxford; and the John F Kennedy School of Government, Harvard. 

Mr Balls was a teaching fellow Department of Economics, Harvard 1989-90; and an Economics Leader writer and columnist for the Financial Times 1990-94. 

He was Economic Adviser to the then Shadow Chancellor Rt Hon Gordon Brown MP 1994-97; Secretary Labour Party Economic Policy Commission 1994-97; Economic Adviser to the Chancellor of the Exchequer 1997-99; Chief Economic Adviser to the HM Treasury 1999-2004; and Research Fellow, Smith Institute 2004-05. 

Ed Balls has had a number of publications including ‘Towards a new Regional Policy’ and ‘Reforming Britain’s economic and financial policy: towards greater economic stability’ and ‘Microeconomic Reform in Britain: Delivering Oppurtunties for All’.  Mr Balls is a member of the TGWU, Unison and the Co-operative Party. 

Mr Balls is married to Yvette Cooper MP and has three children.  Outside work Mr Balls interests include playing the violin and football with his children.

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Lloyd C. Blankfein

Chair and Chief Executive Officer, Goldman Sachs

Lloyd is the chief executive officer of The Goldman Sachs Group, Inc. and chairman of the Board of Directors. He joined Goldman Sachs' J. Aron Currency and Commodities Division in 1982 after working as an attorney in a law firm. Lloyd became a partner in 1988 and was named co-head of the J. Aron Division in 1994. He became co-head of the Fixed Income, Currency and Commodities Division as of its formation in 1997 and was based in London in 1998 and 1999 in that capacity.

Lloyd served as vice chairman of Goldman Sachs from 2002 through 2003, with management responsibility for the Equities and Fixed Income, Currency and Commodities Divisions. Prior to assuming his current responsibilities, he served as the firm's president and chief operating officer from December 2003 through June 2006.

Lloyd received a JD from Harvard Law School in 1978 and an AB from Harvard College in 1975.

Among his affiliations with non-profit organisations, Lloyd is a member of the Harvard University Committee on University Resources, a trustee of the New York Historical Society, an overseer of the Weill Medical College of Cornell University, a director of the Partnership for New York City and a director of The Robin Hood Foundation. He resides in New York City with his wife, Laura, and their three children.

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Paul Boyle

CEO, Financial Reporting Council, UK

Paul Boyle is the first Chief Executive of the newly-expanded Financial Reporting Council. The FRC aims to promote confidence in corporate reporting and governance. It has responsibility for setting and enforcing accounting and auditing standards, for oversight of the accounting profession and for the Combined Code on Corporate Governance.

Prior to joining the FRC, Paul was the Chief Operating Officer of the Financial Services Authority. His responsibility covered all of the support services in the FSA including Human Resources, Finance, Information Services and Facilities Management. Part of his role was to take the lead in ensuring that the FSA was economic and efficient in the use of its resources. The FSA’s annual budget in 2003/04 was around £200m.

Paul was also with Cadbury Schweppes for 8 years including a spell as Group Financial Controller and latterly as a Director of Cadbury Limited, based in Bournville, with responsibility for Finance, Information Technology, Purchasing and Cocoa Buying.

Paul is a member of the Institute of Chartered Accountants of Scotland. He trained with Coopers & Lybrand (as it then was), and spent 8 years with the firm including 2 years in Turkey. His first job in industry was with WH Smith Group plc where he became Group Financial Controller. Paul Boyle was a member of the Council of the Scottish Institute for 6 years.

He is married with 3 children aged between 9 and 15.

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Roel Campos

Commissioner, SEC, USA

Commissioner Roel C. Campos was first sworn in as a Commissioner of the United States Securities and Exchange Commission on August 22, 2002. On June 2, 2005, he was nominated by President George W. Bush for a second term, and was confirmed by the Senate on July 29, 2005.

Commissioner Campos has served for four years as the Commission’s liaison to the international regulatory community. He has become an influential voice for the convergence of standards and for rational regulation that promotes cross-border transactions. As the Vice Chair of the Technical Committee of the International Organization of Securities Commissioners, he has developed productive relationships with securities regulators in Europe, Asia, Australia, and Latin America. Commissioner Campos also has facilitated the development of international auditing and accounting standards through his work as Chair of the Monitoring Group, which oversees the setting of International Standards of Audit.

Commissioner Campos has presided over hundreds of complex enforcement cases, applying the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940. He also has extensively participated in the crafting and adoption of all of the SEC’s major regulatory initiatives, including: the Sarbanes-Oxley Act, mutual fund governance and compliance rules, and the new National Market System. In addition, Commissioner Campos has spoken and published extensively in the areas of the implementation of the Sarbanes-Oxley Act, corporate governance, director liability, corporate penalties, international accounting and auditing standards, Securities Act reform, SRO and market reform, retirement investment protection, research analyst conflicts, and the internationalization of the securities markets.

Prior to being nominated to the Commission, Commissioner Campos was one of two principal owner-executives of El Dorado Communications, a radio broadcasting company, at its headquarters in Houston, Texas. However, he began his career as an officer in the U.S. Air Force. After attending Harvard Law School, he worked in Los Angeles, California for major law firms as a corporate transactions/securities lawyer and litigator. Beginning in 1985, Commissioner Campos served as a federal prosecutor for five years in the U.S. Attorney's Office in Los Angeles. He successfully prosecuted complex and violent narcotics cartels and, in a celebrated trial, convicted defendants for the kidnapping and murder of a DEA Agent. He also investigated and prosecuted major government contractors for fraudulent conduct. He then returned to private law practice for several years before co-founding El Dorado Communications, Inc.

Commissioner Campos has been recognized as one of the top Latino leaders in America. He is a founding member of the New America Alliance, a Latino initiative for raising awareness of investment opportunities in the Latino sector in the United States.

Commissioner Campos earned his J.D. from Harvard Law School (1979), his M.B.A. from UCLA (1972), and his B.S. from the U.S. Air Force Academy (1971).

Commissioner Campos was born in Harlingen, Texas, of Mexican-American parents. He married his high school sweetheart, Mini Villarreal, who now practices medicine in Washington, DC. They have two boys, David - 20 and Daniel - 17.

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John Connolly

Global MD, and UK Senior Partner and CEO, Deloitte Touche Tohmatsu

John Connolly has spent his whole professional career with Deloitte and is the Senior Partner and Chief Executive of the UK firm and a member of the Board of Partners.

John is also Global Managing Director of Deloitte Touche Tohmatsu and has been involved in important global roles with the firm for over 15 years. He is Chairman of the Global Management Committee and a member of both the Global Executive and the Global Board of Partners.

By background, John is a corporate finance partner, and has significant experience on a wide range of corporate transactions. He continues to have significant involvement with a wide range of clients and is the Advisory Partner on a number of the firm's major clients including The Royal Bank of Scotland, Vodafone and KKR.

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Manuel Conthe

President, CNMV, Spain

Manuel Conthe was appointed Chairman of the Spanish Securities and Exchange Commission (CNMV) in October 2004.

Manuel Conthe was born in 1954. In 1976 he got a degree in Law in the Universidad Autónoma de Madrid and in 1978 he joined the corps of Public Sector Economists (“Economistas del Estado”).

After a three-year stay at the Inter-American Development Bank (IADB) he played several roles in the Spanish Ministry of Economy. First, as Director General for Foreign Transactions. Then, from 1988 to 1995, as Director General of the Treasury and Financial Policy. During this period, he commanded several major changes in Spanish financial policy, major regulations and laws on banking and financial markets. He was a member of the Board of the Bank of Spain and of the CNMV.

As a member of the EU´s Monetary Committee, he took part in all its discussions, particularly on Convergence Programmes, Multilateral Surveillance and the European Monetary System. He negotiated the peseta´s entry into the ECU´s basket and the ERM, as well as its realignments during the ERM crisis. He also led Spain´s delegation to the 1990 Paris Conference leading to the creation of the EBRD and the 1991 Inter-governmental Conference on EMU which prepared the Maastricht Treaty. He was a member of the Board of Directors of the European Investment Bank.

In 1995 he was appointed Deputy Minister for Economy.

From 1996 to 1999 he was the Chief Economic and Commercial Counsellor at Spain´s Permanent Representation to the European Union (Brussels)

From 1999 to 2002 he was Vice President for the Financial Sector and, later on, Special Advisor in the World Bank. He helped develop the Financial Sector Assessment Program (FSAP) and represented the World Bank in the “Financial Stability Forum”.

After a two-year period as partner in a leading Spanish consulting company, he took office as Chairman of the CNMV. He has chaired the Group of Experts which published in May 2006 Spain´s new Corporate Governance Code (“Unified Code”) and has had the opportunity of leading the task force on Mediation at the Committee of European Securities Regulators (CESR) and IOSCO’s task force on Corporate Governance.

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Elizabeth Corley

CEO, Allianz Global Investors

Elizabeth Corley joined Allianz Global Investors as Chief Executive of Allianz Global Investors Europe in April 2005. She is also Chief Executive of RCM Europe (excluding Germany). In October 2005 Elizabeth became a Member of the Management Board of Allianz Global Investors. In March 2006 she was appointed Chairman of FEAM (Forum of European Asset Managers).

Prior to joining Allianz, Elizabeth spent eleven years working at Merrill Lynch Investment Managers (formerly Mercury Asset Management) in various positions and became Managing Director and Head of EMEA Asia Pacific Mutual Fund Business and Member of the Board of MLIM UK Ltd., Merrill Lynch International Investment Funds and others.

Before this, Elizabeth was a partner with Coopers & Lybrand and prior to that worked for a number of years at Sun Alliance Life & Pensions. Elizabeth is a Fellow of the Chartered Insurance Institute (UK), member of the Chartered Institute of Marketing and has a Post Graduate Diploma in Management Studies.

Elizabeth is also an acclaimed writer and has had three thriller novels published since 2001.

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Christopher Cox

Chairman, Securities and Exchange Commission, USA

Christopher Cox is the 28th Chairman of the Securities and Exchange Commission. He was appointed by President Bush on June 2, 2005, and unanimously confirmed by the Senate on July 29, 2005. He was sworn in on August 3, 2005.

In his first year at the SEC, Chairman Cox has made vigorous enforcement of the securities laws the agency's top priority. He has assumed leadership of the global effort to provide investors with interactive data about companies and mutual funds, and reinvigorated the agency's initiative, first begun under former Chairman Arthur Levitt, to provide important investor information in plain English. He is also championing efforts to more closely integrate U.S. and overseas regulation in an era of global capital markets.

For 10 of his 17 years in Congress, from 1994 until 2005, Chairman Cox served in the Majority Leadership of the U.S. House of Representatives, as Chairman of the House Policy Committee. During his tenure he also served as Chairman of the Committee on Homeland Security; Chairman of the Select Committee on U.S. National Security; Chairman of the Select Committee on Homeland Security (the predecessor to the permanent House Committee); Chairman of the Task Force on Capital Markets; and Chairman of the Task Force on Budget Process Reform.

In addition, he served in a leadership capacity as a senior Member of every committee with jurisdiction over investor protection and U.S. capital markets, including the House Energy and Commerce Committee (as Vice Chairman of the Oversight and Investigations Subcommittee); the Financial Services Committee; the Government Reform Committee (as Vice Chairman of the full Committee); the Joint Economic Committee; and the Budget Committee.

Among the significant laws he authored were the Private Securities Litigation Reform Act, which protects investors from fraudulent lawsuits, and the Internet Tax Freedom Act, which protects Internet users from multiple and discriminatory taxation. His legislative efforts to eliminate the double tax on shareholder dividends — the subject of a thesis he authored at Harvard University in 1977 — led to the enactment in May 2003 of legislation that cut the double tax by more than half.

Chairman Cox also served as Co-Chairman of the Bipartisan Study Group on Enhancing Multilateral Export Controls, which published a unanimous report in 2001. In 1994 he was appointed by President Clinton to the Bipartisan Commission on Entitlement and Tax Reform, which published its unanimous report in 1995.
From 1986 until 1988, Chairman Cox served in the White House as Senior Associate Counsel to the President. In that capacity, he advised the President on a wide range of matters, including the nomination of three U.S. Supreme Court Justices, reform of the federal budget process, and the 1987 stock market crash.

From 1978 to 1986, he specialized in venture capital and corporate finance with the international law firm of Latham & Watkins, where he was the partner in charge of the Corporate Department in Orange County and a member of the firm's national management.

In 1982-83, Chairman Cox took a leave of absence from Latham & Watkins to teach federal income tax at Harvard Business School. He also co-founded Context Corporation, publisher of the English translation of the Soviet Union's daily newspaper, Pravda. In 1977-78, he was law clerk to U.S. Court of Appeals Judge Herbert Choy.

In 1977, Chairman Cox simultaneously received an M.B.A. from Harvard Business School and a J.D. from Harvard Law School, where he was an Editor of the Harvard Law Review. He received a B.A. from the University of Southern California in 1973 after pursuing an accelerated three-year course.
Chairman Cox was born October 16, 1952, in St. Paul, Minnesota. He and his wife Rebecca have three children.

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Meleveetil Damodaran

Chairman of the Emerging Markets Committee of the International Organisation of Securities Commission (IOSCO)

Meleveetil Damodaran took office as the Chairman of the Securities and Exchange Board of India (SEBI) on February 18, 2005.

He was elected as the Chairman of the Emerging Markets Committee of the International Organisation of Securities Commission (IOSCO) at the 31st Annual Conference of IOSCO held in Hongkong in June 2006.

Mr.Damodaran holds degrees in Economics and Law from the Universities of Madras and Delhi. He is a Member of the prestigious Indian Administrative Service (I.A.S.) and has worked in various capacities in the financial sector.

After a year with the Reserve Bank of India (RBI), during which he was associated with drawing up restructuring plans for 3 identified Public Sector banks, which have since turned around, he was appointed Chairman of Unit Trust of India (UTI), India’s largest Mutual Fund promoted by the Government. His restructuring and restoring of UTI to health is widely regarded as a landmark successful turnaround of an institution in the financial sector. He thereafter, restructured Industrial Development Bank of India (IDBI), a Public Financial Institution, to a bank by an innovative restructuring of its assets and facilitated its merger with the IDBI Bank Ltd. Mr.Damodaran has served on many Committees set up by the Government of India as well as the Reserve Bank of India on various issues including Banking sector reforms.

Mr.Damodaran has worked as Joint Secretary to the Government of India in the Banking Division of the Ministry of Finance. His other assignments with the Government of India include Joint Secretary, Ministry of Information and Broadcasting and Deputy Secretary in the Ministry of Commerce among others. He has also worked as Head of Civil Service in a State Government in the capacity of Chief Secretary, Government of Tripura, India.

His contribution has been recognized through a number of prestigious awards, including the Bombay Management Association’s (BMA) Finance Man of the Year 2004 Award, the Biennial Priyadarshini Award for Public Service, the Golden Peacock Award for Leadership and the Centenarian Award for contribution to economic development.

Tom de Swaan

Former CFO of ABN AMRO

Mr. de Swaan holds a Master degree in Economics and is a Senior Advisor to the Managing Board of ABN AMRO. He was appointed to the Managing Board of ABN AMRO in 1999 and served as Chief Financial Officer and Chief Risk Officer between 1999 and 2006.

Prior to his tenure with ABN AMRO he was from 1986 – 1998 a Member of the Governing Board of the Dutch Central Bank and in that capacity Chairman of the Basel Committee on Banking Supervision.

He holds several supervisory or non-executive directorships including Koninklijke DSM N.V., GlaxoSmithKline plc, Financial Service Authority London and Zurich Financial Services and Royal Ahold.

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Jane Diplock

Chair, Securities Commission, New Zealand

Jane Diplock took office as the Chairman of the Commission on 3 September 2001. She was reappointed as Chairman in February 2006 for a further five year term.

Jane holds degrees in Arts and Law and a Diploma of Education from Sydney University and a Diploma of International Law, International Economics and International Relations from The Australian National University. She was a Chevening research fellow at the London School of Economics.

Jane’s professional qualifications are:

- Barrister and Solicitor of the ACT Supreme Court and High Court of Australia
- Barrister of the New South Wales Supreme Court
- Fellow of the Institute of Public Administration Australia

Before her appointment as Chairman Jane was the National Director, Infrastructure and Strategic Planning, and New South Wales Regional Commissioner with the Australian Securities and Investments Commission. Jane has also held various senior executive positions with Westpac Banking Corporation and was the managing director of the New South Wales Technical and Further Education Commission.

Jane was appointed as an officer of the General Division of the Order of Australia on 26 January 2003. The citation read “For service to business and commerce, to public administration, particularly in the areas of education and training, and to the community through a range of social justice, health, educational and cultural organisations.”

During her chairmanship the Securities Commission has been given additional responsibilities and powers notably in enforcement of securities law and oversight of securities markets. The Commission has also taken a higher profile in education about securities and in international securities regulation.

Jane is Chairman of the Executive Committee of the International Organisation of Securities Commissions, a post held concurrently with her chairmanship of the New Zealand Securities Commission. She was elected to this post in May 2004 and was recently re-elected for a further two year term. She is a member of the Trustee Appointments Advisory Group set up by the International Accounting Standards Committee Foundation. Jane is one of the eight leaders of international organisations (including the IMF, the World Bank, the Financial Stability Forum and African, Asian and Inter-American development banks) on this group. Jane is a member of the Trans Tasman Leadership Forum, and a Fellow of the New Zealand Institute of Management Inc.

Arthur Docters van Leeuwen

Chair, Autoriteit Financiële Markten, Netherlands

Arthur W. H. Docters van Leeuwen is the Chairman of the Netherlands Authority for the Financial Markets, as well as the Chairman of the Committee of European Securities Regulators (CESR).

Arthur Docters van Leeuwen was the Directorate-General National Budget at the Ministery of Finance from 1970 to 1980, and in 1981 he became Deputy Director-General Public Order and Safety at the Ministry of the Interior. In 1988 he became the Head of Internal Security Service of the Netherlands before becoming the Chairman of the Board of Procurators-General in 1995. In 1999 he became chairman of the Netherlands Authority for the Financial Markets.

Docters van Leeuwen is also a member of IOSCO (International Organization of Securities Commissions) and Chairman of the Board of Financial Supervisors of the Netherlands. In September 2001 he became Chairman of the Committee of European Securities Regulators, CESR.

Stanley Fink

CEO, Man Group

Stanley Fink is Chief Executive Officer of Man Group plc having been appointed in March 2000. He joined Man in 1987 as a Director with specific responsibility for mergers, acquisitions and treasury, becoming Group Finance Director in 1992 and led the team responsible for the successful flotation of the Group in 1994. He was Managing Director of Man Investments prior to becoming Group CEO, and is now Chairman of Man Investments.

Man Group is the largest listed hedge fund manager in the world, managing over US$54 billion of assets. Man is a constituent of the FTSE 100 Index of leading UK shares.

Mr Fink studied at Manchester Grammar School and then Trinity Hall College, Cambridge, qualifying with an MA in Law in 1979. He then qualified as a chartered accountant (ACA) with Arthur Andersen where he worked until 1982. He joined a financial planning team at Mars Confectionery between 1982/83 leaving to become a Vice President at Citibank responsible for a leverage buyout team before joining Man Group.

Clara Furse

CEO, London Stock Exchange, UK

Clara Furse has been Chief Executive of the London Stock Exchange since February 2001. Prior to joining the Exchange, Clara was Group Chief Executive of Credit Lyonnais Rouse from 1998 to 2000.

Clara's career has spanned a broad range of global financial markets. She began her career in 1979 as a broker, joining Phillips and Drew (now UBS) in 1983, becoming a Director of the company in 1988, Executive Director in 1992, Managing Director in 1995 and Global Head of Futures in 1996. In addition, she served as a board member and Deputy Chairman of LIFFE (1991-1999).

Clara was educated at schools in Colombia, Denmark and Britain, she studied at the London School of Economics, speaks several European languages and lives in London with her husband and three children. She is a member of the Board of Euroclear plc, LCH.Clearnet and Fortis. She is also a Companion of the Chartered Management Institute, a member of the CBI President’s Committee and a Member of the Court of the Guild of International Bankers.

Gianluca Garbi

Chairman and CEO, MTS, Italy

Gianluca Garbi is the Chairman of the Management Board of MTS S.p.A. and Chief Executive Officer of EuroMTS and BondVision. Since 1998, he has been responsible for the operations of the MTS Group of companies in Europe , collectively known as the “European Bond Exchange” and of BondVision, the Internet-based trading platform for institutional investors. Under Mr. Garbi’s direction, the MTS Group has become the leading electronic fixed income market with the most extensive network in Europe and with daily average volumes at up to €90 billion for MTS and €5 billion for BondVision.

Mr. Garbi leads the MTS Group of companies in its continuous expansion. In 2001, MTS acquired BondClick, an Internet-based auction-trading platform for fixed-income securities. MTS also branched out into the corporate bond market with CoredealMTS, the screen-based electronic exchange for debt-related securities, which it later consolidated with EuroMTS. In 2003, MTS launched the EuroMTS Indices, the first independent and transparent pan-European bond indices, as well as MTS markets beyond the eurozone, namely MTS Denmark and MTS Poland. In successive years, MTS launched NewEuroMTS and EuroGlobalMTS, the markets for the euro-denominated benchmark government bonds of new EU member States and non-EU States, respectively. MTS is equally set for launch in Israel in 2006 and has formalised a commitment with the China Foreign Exchange Trading System to cooperate towards the creation of a transparent, liquid and efficient domestic fixed-income market in the People’s Republic of China. In addition, Mr. Garbi has been instrumental in establishing the MTS Scientific Committee, which aims to foster research in the European bond markets and to link MTS with the academic community.

Prior to this position, Mr. Garbi was an appointed member of the Council of Economic Advisers by Carlo Azeglio Ciampi, the former President of the Republic of Italy and prior to then the Minister of the Italian Treasury. In this capacity, he was involved in forging the direction of macro-economic and issuance policies of the Italian Treasury from 1997 to 1998. He has also held positions at Banque Paribas, in charge of Agency services and American Depository Receipt contracts from 1995 to 1997 and with JP Morgan as Head of Tax Planning, from 1994 to 1995.

Mr. Garbi is an appointed member of the European Securities Experts Markets Group formed by the European Commission and a member of the Scientific and Pedagogic Committee of the Master of Finance in Toulouse. He has also held lectures at the John Hopkins University, the London Business School, SAID University, Oxford, Università di Tor Vergata and Università Cattolica di Sacro Cuore, Milan.

Stephen Green

Group Chairman, HSBC

Stephen Green is Group Chairman of HSBC Holdings plc. He was born in England on 7 November 1948. He has degrees from Oxford University and Massachusetts Institute of Technology.

Mr Green began his career with the British Government’s Ministry of Overseas Development. In 1977 he joined McKinsey & Co Inc, management consultants, with whom he undertook assignments in Europe, North America and the Middle East. He joined The Hongkong and Shanghai Banking Corporation Limited in 1982 with responsibility for corporate planning activities, and, in 1985, was put in charge of the development of the bank’s global treasury operations. In 1992 he became Group Treasurer of HSBC Holdings plc, with responsibility for the HSBC Group’s treasury and capital markets businesses globally.

In March 1998 he was appointed to the Board of HSBC Holdings plc as Executive Director, Investment Banking and Markets responsible for the investment banking, private banking and asset management activities of the Group. He assumed additional responsibility for the Group’s corporate banking business in May 2002. He became Group Chief Executive on 1 June 2003 and Group Chairman on 26 May 2006.

He is Chairman of HSBC Bank plc and of HSBC Private Banking Holdings (Suisse) SA. He is a director of The Hongkong and Shanghai Banking Corporation Limited, of HSBC North America Holdings Inc., and of HSBC France.

Stephen Green is married with two daughters.

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Edward Greene

General Counsel, Corporate and Investment Bank, Citigroup

Edward F. Greene is currently the General Counsel of Citigroup’s Corporate and Investment Bank. He was previously a partner at Cleary Gottlieb Steen & Hamilton LLP, resident in the London office from 1990 to 2004, when he joined Citigroup.

Mr. Greene was also resident in the Washington offices of Cleary Gottlieb from 1982 to 1987, and Tokyo, from 1987-1990. He was the first licensed foreign lawyer to be admitted to practice law in Japan in 1987. Prior to joining Cleary Gottlieb in 1983, he was General Counsel of the US Securities and Exchange Commission, from 1981-1982, and Director of the Division of Corporation Finance, from 1979-1981. Prior to joining the Securities and Exchange Commission he was engaged in private practice in New York.

Mr. Greene received an LL.B. degree from Harvard Law School in 1966 and an undergraduate degree from Amherst College in 1963. He is a member of the New York Bar.

Mr. Greene is a Trustee of the Practicing Law Institute, the SEC Historical Society and The Lawyers Alliance, a member of the Financial Markets Law Committee of the Bank of England, current Chairman of the Annual Securities Regulation Institute sponsored by Northwestern University, Co-Chairman of the Annual Securities Regulation in Europe program sponsored by PLI, a member of the NASD’s Legal and Compliance Committee and a member of the advisory and editorial boards of several legal education publications and institutes. He has written extensively on securities law issues and is a co-author of U.S. Regulation of the International and Derivatives Markets, published by Aspen and currently in its Seventh Edition.

Mr. Greene has been an Adjunct Professor of Law at the University of Pennsylvania and Georgetown University Law Center, was appointed to the Nomura Chair of International Securities Regulation by the law faculty of the University of Tokyo for the 1989-1990 academic year, and was appointed Lecturer at the Harvard Law School for the 2003 spring term. He was also Chairman of the Legal Advisory Board of New York Stock Exchange, from 1995 until 2001, continuing as a member ex officio and was a member of the SEC’s Advisory Committee on Capital Formation and Regulatory Processes. He was a member of the Financial Accounting Standards Advisory Council from 1986 to 1987. In 2005, the Association of Securities and Exchange Commission Alumni, Inc. presented Mr. Greene with the distinguished William O. Douglas Award, in recognition of his contributions to the development of federal securities laws and his service to the financial and SEC community.

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John Howard

Chair, UK's Financial Services Consumer Panel

John was first appointed to the UK's Financial Services Consumer Panel in October 2000 and took over as Chairman on 1 October 2005.

John is a Writer and Broadcaster with extensive experience of consumer issues and financial services, having been the principal presenter of the daily consumer programme on BBC Radio 4's 'You and Yours' programme and numerous other financial programmes on UK radio and TV. He is also a qualified solicitor. He was a member of the Mortgage Code Compliance Board until its activities were taken over by the Financial Services Authority in November 2004. John has also been a member of the UK's Council of Energywatch since April 2005.

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Reuben Jeffery

Commissioner and Chairman, Commodity Futures Trading Commission (CFTC), USA

Reuben Jeffery III was sworn in on July 11, 2005, as a Commissioner and the 10th Chairman of the Commodity Futures Trading Commission (CFTC), the federal agency that regulates commodity futures and options on futures trading in the U.S. Mr. Jeffery was nominated by President Bush on May 17, 2005, and confirmed by the Senate on June 30, 2005, to a term expiring April 13, 2007.

Mr. Jeffery was most recently the Special Assistant to the President and Senior Director for International Economic Affairs at the National Security Council. He was previously the Representative and Executive Director of the Coalition Provisional Authority Office (CPA) at the Pentagon, after having served as an advisor to Ambassador Bremer in Iraq. Prior to joining the CPA in May of 2003, Mr. Jeffery served as Special Advisor to the President for Lower Manhattan Development. In this capacity he helped coordinate ongoing federal efforts in support of the longer term recovery and redevelopment of Lower Manhattan in the aftermath of September 11, 2001.

Mr. Jeffery spent eighteen years working for Goldman Sachs & Co. where he was managing partner of Goldman Sachs in Paris (1997-2001) and of the firm’s European Financial Institutions Group (1992-1997) based in London. Mr. Jeffery has a broad range of international capital markets, corporate finance and merger and acquisition experience.

Prior to joining Goldman Sachs, Mr. Jeffery was a lawyer with the New York firm of Davis Polk & Wardwell.

Mr. Jeffery received his BA degree in Political Science from Yale University in 1975 and Juris Doctor and Master of Business Administration degrees from Stanford University in 1981.

Huw Jenkins

Chairman & CEO, UBS Investment Bank

Huw  Jenkins is Chairman and CEO of UBS Investment Bank. He joined the firm in 1996 as Managing Director and Head of Asian Equities. In 2000 he was appointed as Head of Equities for the Americas and went on to become Global Head of Equities in 2004. In July 2005 Huw was appointed CEO of UBS Investment Bank and also became a member of the UBS Group Executive Board. In January 2006 Huw was appointed Chairman and CEO of UBS Investment Bank. 

Before joining the firm, Huw was Head of Asian Equities at BZW. 

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Jeffrey Lucy

Chairman of the Australian Securities and Investments Commission (ASIC), Australia

Mr Jeffrey Lucy was appointed as Chairman of the Australian Securities and Investments Commission (ASIC) on 13 May 2004 and resides in Sydney. He first joined ASIC as its Deputy Chairman on 24 February 2003 and was appointed as Acting Chairman on 22 December 2003.

Mr Lucy's career spans more than 30 years of experience in both the private and public sectors. He is a Chartered Accountant and was made a Member of the Order of Australia for his contribution to the accounting profession, particularly through the ICAA, and to the business sector as an adviser on corporate and taxation reform.

Mr Lucy is also a Member of the Council of Financial Regulators and Board Member of the Australian Crime Commission.

Previous positions held include:

• Managing Partner of PricewaterhouseCoopers, Adelaide;

• Chairman of the Financial Reporting Council;

• Member of the Business Regulation Advisory Group; and

• President of the Institute of Chartered Accountants in Australia.

Sir Callum McCarthy

Chair, Financial Services Authority (FSA), UK

Sir Callum McCarthy became the Chairman of the FSA on 22 September 2003, having been the first energy regulator responsible for both gas and electricity as Chief Executive of Ofgem and Chairman of the Gas and Electricity Markets Authority, a post he held for five years. He is an economist and graduate of the School of Business at Stanford University (USA), where he was a Sloan Fellow.

His early career was in the chemical industry, and in Department of Trade and Industry where he held a number of posts including Principal Private Secretary to Roy Hattersley when he was Secretary of State for Prices and Consumer protection and to Norman Tebbit when he was Secretary of State for Trade and Industry.

In 1985 he left DTI and joined Kleinwort Benson as Director of Corporate Finance. In 1989 he joined BZW as Managing Director and Deputy Head of Corporate Finance later becoming Chief Executive Officer of Barclays Bank group operations in Japan before moving to head the Bank’s businesses in North America.

Professor David Miles

Managing Director and Chief UK Economist, Morgan Stanley

David Miles became Managing Director and Chief UK Economist at Morgan Stanley in October 2004. He joined from Imperial College, University of London, where he retains the role of visiting Professor of Financial Economics. He specialises in research on financial markets. Miles worked for the Bank of England for several years after graduating from Oxford. He has worked as an academic and for Merrill Lynch.

He has published widely on many aspects of finance and macroeconomics. His recent book “Macroeconomics: Understanding the Wealth of Nations”, jointly written with Andrew Scott of the LBS, has just appeared in second edition. He is the author of The Miles Review on the UK mortgage market, commissioned by the Chancellor of the Exchequer and published by HM Treasury in the Spring of 2004. Miles is a non-executive Director of the Financial Services Authority.

Michel Prada

Chair, Aurotité des Marchés Financiers (AMF), France

Michel Prada was born in Bordeaux on April 2, 1940. He is married and has 5 children. He is a graduate of the Institut d’Etudes Politiques of Bordeaux and of the Ecole Nationale d’Administration (1964-1966). He also holds a Master of Arts in Law.

From 1966 to 1970, he was Inspecteur des Finances. Then he seconded to the Direction de la Comptabilité Publique in the Ministry of the Economy where he became, in 1978, Directeur de la Comptabilité Publique. In 1985, he was appointed Directeur du Budget in the Ministry of the Economy and in 1987 was awarded the title of Inspecteur Général des Finances. In 1988, he served as Chairman of the Crédit d’Equipement des Petites et Moyennes Entreprises (CEPME). Between 1994 and 1995, he was Member of the Conseil Economique et Social and Member of the Conseil National du Crédit. He was appointed Chairman of the Commission des Opérations de Bourse (COB) in 1995. He was Chairman of the Executive Committee of the International Organization of Securities Commission (IOSCO) from September 1996 to September 1998 and Chairman of the Technical Committee from September 1998 to May 2000, and was reappointed Chairman of the Technical Committee in October 2005. From October 2002 to November 2003, he was Inspecteur Général des Finances. Since November 2003, he has been Chairman of the Autorité des Marches Financiers.

He has been the Chairman of the Board of the Institut d’Etudes Politiques de Bordeaux.

He has been awarded the titles of Commander of the “ Légion d’Honneur ” and Great Officer of the “ Ordre National du Mérite ” and is also Chevalier of the “ Ordre National des Arts et Lettres ”.

Jim Riepe

Former Vice Chairman of T. Rowe Price Group

James S. Riepe is the Retired Vice Chairman of the Board of Directors of T. Rowe Price Group, Inc. and currently serves as a Senior Advisor to the firm. Until his retirement earlier this year, he was responsible for overseeing the firm's global mutual fund and institutional investment activities and served as Chairman of the T. Rowe Price Mutual Funds. Mr. Riepe also served as Chairman of the firm’s Luxembourg SICAV fund range and its Luxembourg-based management company. A global asset manager, T. Rowe Price and its affiliates manage over $290 billion.

Mr. Riepe has worked in the fund industry for over 35 years and played an active role in U.S. mutual fund industry affairs. He served as a member of the Board of Governors of the Investment Company Institute, the industry’s national trade association, for nearly 25 years and served as chairman from 1990-1992 and again in 2004-2005. In addition, he serves as a member of the Board of Directors of The Nasdaq Stock Market, Inc., Genworth Financial, Inc., and the Baltimore Equitable Society. Previously, he served as a member of the Board of Governors of the National Association of Securities Dealers, Inc.

Mr. Riepe currently serves as Chairman of the Board of Trustees of the University of Pennsylvania from which he earned a B.S. and M.B.A.

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Tim Roberts

Director, McKinsey & Company

Tim Roberts is a Director in McKinsey & Company’s London office, having joined the Firm in October 1993.  He has served clients in almost every part of the financial services sector including asset management, retail banking, life and general insurance, and investment banking.  He is the leader of McKinsey’s UK financial services practice, and has been one of the leaders of its European Asset Management Practice since its formation.  

Before joining McKinsey, Tim worked as an investment banker at SG Warburg for 5 years.  His first two years were spent within SG Warburg Securities, specialising in structuring new deals in the primary bond markets.  He then spent three years in the Advisory Group, advising on UK and European mergers & acquisitions.

He received a first class MA in Mathematics and Philosophy from Oxford University in 1988.  Since graduating he has gained a Diploma in Accounting and Finance and a black belt in Judo.

Hector Sants

Managing Director, Wholesale and Institutional Markets, Financial Services Authority (FSA), UK

Hector Sants is Managing Director, Wholesale and Institutional Markets at the FSA. He has responsibility for all regulated markets, the related infrastructure such as clearing and settlement, the operation of the UK Listing rules, the regulation of firms or groups which conduct primarily wholesale or institutional market business and the associated policy framework.

Hector took up this post in May 2004, joining from Credit Suisse First Boston where he was European Chief Executive and a member of the firm 's Executive Board. Prior to joining CSFB in 2000, when the firm merged with Donaldson, Lufkin & Jenrette he held a number of senior investment banking management roles at DLJ and UBS in both London and New York.

He was a member of the FSA Practitioner Panel and was previously a Board member of, among other bodies, the SFA, the London Stock Exchange and LCH.Clearnet.

Kiyotaka Sasaki

Director, Enforcement, Financial Services Agency, Japan

Mr. Sasaki is currently working at SESC, Japan as Director of Enforcement Division responsible for investigations and enforcement actions against market misconducts and manipulations in securities markets. He has a wide range of expertise and experiences on financial sector supervision, including on on-site inspection of financial institutions, risk-based approach of supervision, internal- and external-audit functions, as well as anti-money laundering and combating the financing of terrorism (AML/CFT). He also has a number of experiences in international front of financial sector supervision, in particular, relating to cooperation with foreign supervisions on bilateral and multilateral basis, as well as policy discussions at working groups of the Basel Committee for Banking Supervision, the IOSCO, Financial Stability Forum (FSF) and G7 Finance Ministers meetings. Before taking up the current position at the SESC, Japan, he worked at IMF for assessments and technical assistance on AML/CFT.

Mr Sasaki obtained a Law Degree in 1983 from the University of Tokyo

Takumi Shibata

President and CEO of Nomura Asset Management

Takumi Shibata is President and CEO of Nomura Asset Management Co. Ltd and sits on the Operating Board of Nomura Holdings, Inc. Following his appointment, Nomura’s asset management division has expanded from US$166 billion to US$198 billion in terms of assets under management (AUM) through organic growth in just one year, widening its lead over its competitors in Japan. Prior to his current assignment, Mr. Shibata has enjoyed a successful and varied career as an all-rounder, heading Nomura’s European business from London (1997/2001), global investment banking operations from Tokyo (2001/2002), global wholesale business from Tokyo (2002/2003) and global support functions from Tokyo (2004/2005). Of his 30 years with Nomura, he has spent 12 years in London, 11 years in Tokyo, 3 years in Hong Kong and 2 years each in Boston and Kobe, highlighting a uniquely international career for a Japanese banker.

In addition to his executive responsibilities with Nomura, he sits on the Japanese Government’s Business Accounting Council. He was also Chairman of  the Self Regulation Planning Committee of the Japan Securities Dealers Association (2004/2005), a Board Member of the International Primary Market Association ( London ) ( 1994 / 1995 ), and a Board Member of the Securities Institute ( London ) ( 2001 / 2002 ). Mr. Shibata holds a BA in economics from Keio University and an MBA from Harvard Business School. IFR, in its 30th anniversary edition of July 2004, distinguished him as one of thirty individuals to represent a generation of achievement in international capital markets.

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Jeffrey Sprecher

Chairman and Chief Executive Officer, IntercontinentalExchange (ICE)

Jeff Sprecher is the founder of IntercontinentalExchange (ICE), serving as the company’s Chief Executive Officer since its inception in May 2000 and as Chairman of the Board since November 2002. As CEO, he is responsible for the firm’s strategic direction, operation and financial performance. Widely recognized for his vision, leadership and entrepreneurial spirit, Mr. Sprecher was selected in 2002 by Business Week magazine as one of seven Top Entrepreneurs of the Year. In addition, he was a finalist in Ernst & Young’s Entrepreneur of the Year® Program.

Mr. Sprecher recognized the potential for building and operating a transparent and efficient marketplace for electronic over-the-counter energy commodities trading, purchasing Continental Power Exchange, Inc. (CPEX) in 1997 to achieve his vision. IntercontinentalExchange was formed in May 2000, with CPEX contributing to ICE all of its assets, primarily electronic trading technology, and its liabilities. Mr. Sprecher spearheaded the assembly of thirteen leading wholesale commodities market participants who became the company’s initial shareholders, acquiring equity interests and committing to provide order flow to provide liquidity for the new electronic marketplace.

Commodities Now magazine bestowed on ICE its 2002-2003 award for Excellence in Risk Management due to Mr. Sprecher’s vision “…to develop an exchange unfettered by the demands of venture capitalists and the like, using equity to attract active partners.” In 2005, Energy Risk magazine named ICE the “Platform of the Year” in its annual user choice awards. In an interview with Energy Risk, Federal Energy Regulatory Commission Chairman Pat Wood said he would like to see the bulk of energy transactions made over a platform like ICE. “It gives the kind of transparency that will bring a lot of credibility and confidence back. We sure appreciate the way [Jeff Sprecher] handles his business – it meets all the regulatory criteria we care about.” Risk Magazine named ICE Exchange of the Year for 2005.

Recognizing the benefits of combining ICE’s electronic platform for over-the-counter products with the increasingly popular exchange-traded energy derivatives market, Mr. Sprecher negotiated the acquisition of IPE Holdings Plc, owner of the International Petroleum Exchange (IPE) in London in June 2001. The acquisition enabled ICE to create the industry’s first cleared OTC products through IPE’s clearing provider, LCH.Clearnet. In turn, the IPE began to develop its futures markets on ICE’s trading platform and became the first energy commodity exchange to become fully electronic in April 2005. IPE was re-named ICE Futures in October 2005. ICE became a publicly traded company on November 16, 2005 with its listing on the New York Stock Exchange.

Prior to acquiring CPEX, Mr. Sprecher held a number of positions, primarily in the power industry. For 14 years, he served as President of Western Power Group, Inc., a developer, owner and operator of large central-station power plants in California.

A native of Wisconsin, Mr. Sprecher earned a Bachelor of Science degree in Chemical Engineering from the University of Wisconsin at Madison, and an MBA from Pepperdine University in Malibu, California.

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John Tiner

CEO, Financial Services Authority (FSA), UK

John Tiner is the Chief Executive of the Financial Services Authority.

Prior to his appointment as CEO in September 2003, he was a Managing Director of the FSA responsible for the insurance and investment sectors, as well as Conduct of Business Policy and the FSA’s consumer facing work. Since joining the FSA in June 2001, John has spearheaded a fundamental review to modernise insurance regulation in the United Kingdom (the so-called Tiner Project)

John is also Chairman of CESR-fin, a standing committee of the Committee of European Securities Regulators responsible for the accounting and auditing issues and a member of the managing Board of the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).

Prior to joining the FSA, John was head of the world-wide financial services practice at Andersen, where he worked with clients in the major financial centres around the world.

John is 49 years old and married with three grown up children.

Martin Wheatley

Chief Executive Officer, Securities and Futures Commission, HK

Mr. Wheatley was first appointed Executive Director, Supervision of Markets, on 6 June 2005. He became the executive Chairman on 1 October 2005. With the commencement of the Securities and Futures (Amendment) Ordinance 2006, which amends the SFO to provide for the separation of the role of the Chairman of the Commission from that of the executive arm of the Commission and to create a Chief Executive Officer (CEO) post, the HKSAR Chief Executive appointed Mr. Wheatley to be the CEO from 23 June 2006 to 30 September 2008.

Prior to joining the SFC, Mr. Wheatley had been with the London Stock Exchange (LSE) for over 18 years in various positions, with his last position being Deputy Chief Executive. He had served on the Board of the LSE for 6 years. He was also Chairman of the FTSE International and sat on the Listing Authority Advisory Committee of the Financial Services Authority of England.

Mr. Wheatley qualified as an accountant in 1984. He attained his Bachelor of Arts degree from the University of York, England in 1980 and was awarded a Master of Business Administration degree by the City University, England in 1993.

David Wilson

Chair, Ontario Securities Commission, Canada

David Wilson became Chair of the Ontario Securities Commission on November 1, 2005, following an extensive 35-year career in Canada's securities industry.

Prior to his appointment for a five-year term as OSC Chair, Mr. Wilson was Vice Chair of the Bank of Nova Scotia and Chair and Chief Executive Officer of Scotia Capital in Toronto. He was responsible for all of Scotiabank's global wholesale banking activities, which included its corporate, institutional and government relationships on a global basis. Previously, Mr. Wilson held a variety of senior management positions with Scotiabank in the areas of investment banking, retail brokerage and corporate finance.

During his career, Mr. Wilson has made positive contributions to the development of the regulatory system in Ontario and across Canada. He served on the provincial government’s Five Year Review Committee, which reviewed the content of the Securities Act. In addition, he has been advising the Government of Ontario on its work toward the establishment of a common securities regulator for Canada. Mr. Wilson was Chairman of the Investment Dealers Association of Canada (IDA), a national self-regulatory organization (SRO) and representative of the securities industry, in 1996-1997. In addition, he was a founding Director of the Mutual Fund Dealers Association of Canada (MFDA), a SRO for the mutual fund industry, from 1997 to 1998.

Mr. Wilson was educated at the University of Toronto (B.Comm.) and York University (MBA). He began his career as a financial analyst and in 1971 joined McLeod Young Weir, a predecessor firm to Scotia Capital.

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Peter Wyman

Senior Partner, PricewaterhouseCoopers, UK

Peter Wyman is a senior partner at PricewaterhouseCoopers UK, and is Head of Professional Affairs. He was President of the Institute of Chartered Accountants in England and Wales in 2002/3, where he led the accountancy profession in the aftermath of the Enron and Worldcom scandals in the United States.

In 2006 Peter Wyman received The Institute of Chartered Accountants’ Award for outstanding Achievement, the profession’s highest award, and was also awarded a CBE in the Queen’s Birthday Honours for services to the accountancy profession.

Peter Wyman is currently Master Elect (until October 2006) of the Worshipful Company of Chartered Accountants.

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Alan Yarrow

Vice Chairman of Dresdner Kleinwort and Chairman of the London Investment Banking Association (LIBA), UK

Alan Yarrow is a Vice Chairman of Dresdner Kleinwort, and was appointed to this position on 1 January 2000.

In addition to his responsibilities at Dresdner Kleinwort Alan acts as:

- Chairman of LIBA (London Investment Banking Association)
- Member of the Take-over Panel
- Chairman (Non-Executive) Complinet (March 2002)
- FSA Practitioners Panel (April 2004)
- Vice-President British Bankers Association (2004)
- Fellow of the Securities & Investment Institute (FSI), (2005)

- Past Directorship: Board Member of the Securities Institute (2001-2005)

Alan joined Grieveson Grant in 1972, and was elected a member of the Stock Exchange in 1978. He was made a partner in 1981. Following the merger of Grieveson Grant and Kleinwort Benson Alan became Head of UK Institutional Sales in 1989, Head of Global Distribution in 1992, and Managing Director of Kleinwort Benson Securities in 1994. He was appointed to the Kleinwort Benson Group Board in 1995.

When Dresdner Bank took over Kleinwort Benson in 1995, he was appointed Global Head of Equities and to the Management Board of Dresdner Kleinwort Benson, Dresdner Bank’s investment banking division, representing Global Equities. In April 2002, following the creation of a single Capital Markets business line from the combination of what was Global Equities and Global Debt, he was appointed adviser to the Capital Markets Operating Committee. He was recently appointed to the Chancellor of the Exchequer High Level Stakeholder Group.

Alan Yarrow’s Internal Directorships:

Dresdner Kleinwort Wasserstein Limited (Chairman)
Dresdner Kleinwort Wasserstein Sec. Ltd (Chairman)
Dresdner Kleinwort Wasserstein Asia
A chairman of COMCO (the Bank’s senior risk committee)

Member of the Joint Audit Committee

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