The European Primary Dealers Association (EPDA), an affiliate of the Securities Industry and Financial Markets Association (SIFMA), today announced its Executive Board for 2009.
The new Executive Board will be co-chaired by Stanislas de Caumont, managing director, head of European government bonds and repos at Credit Suisse and Gunter Fluyt, global head of rates & credits developed markets at ING.
The other Executive Board members are: vice-chair, Paul Spurin, head of European government bond trading at Royal Bank of Scotland who was one of the 2008 co-chairs and remains on the Board to ensure continuity within the Association; and treasurer, Antonio Cavarero, Société Générale's senior inflation trader.
Outgoing co-chairs are: Christophe Rivoire, deputy head of rates trading at HSBC and Paul Spurin of Royal Bank of Scotland.
"The Association expresses its gratitude to Paul and Christophe for their support and leadership throughout this particularly challenging year," said Mark Austen, managing director of the EPDA. "Their leadership through this unprecedented crisis was beneficial to us all."
"We look forward to working with the new Executive Board which, in keeping with the EPDA's philosophy, reflects a combination of continuity and rotation amongst members in order to keep fresh ideas coming to the fore," added Mr. Austen.
Stanislas de Caumont and Gunter Fluyt will continue the Association's work to promote policies that encourage integration and efficiency within the European Government bond markets. In 2009 the EPDA will continue to advocate on behalf of its members, the Euro-zone Government bond Primary Dealers, with relevant Government and regulatory bodies through ongoing dialogue and market recommendations. The EPDA will also seek to strengthen its dialogue with end investors.
"There will be a significant increase in Government bond issuance next year and the European Primary Dealers community will make every effort to support this issuance," noted Stanislas de Caumont.
"In this context it will be important that issuers keep an open dialogue with the Primary Dealers and be ready to be flexible in their different issuance strategies but also more coordinated at a European level," concluded Gunter Fluyt.