Intercontinental Exchange (NYSE:ICE), a global network of exchanges and clearing houses, has made a new senior appointment, with ICE Benchmark Administration (IBA) naming Dame DeAnne Julius, one of the founding members of the Monetary Policy Committee of the Bank of England (BoE), as its newest Director of IBA, per an ICE statement.
The IBA has its roots in 2013, following its beginnings as an administrator of LIBOR after receiving a sponsorship from the HM Treasury (UK). In recent years, IBA has also started administrating LIBOR, as well as the administration of ICE Swap Rate (formerly ISDAFIX) in August 2014. In 2015, IBA achieved a new mandate, in becoming the new administrator for the LBMA Gold Price (formerly the London Gold Fix).
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IBA acts as an independent subsidiary of ICE, which operates a strict oversight and governance framework, led by a fully independent board. The senior latest appointment places one of the most experienced individuals on IBA’s board, with Ms. DeAnne stepping into the new role with immediate effect.
Ms. DeAnne’s appointment has also been formally approved by the Financial Conduct Authority (FCA), which paved the way for her addition to the Board. As such, IBA’s board now boasts seven individuals from across the ICE family of businesses and units, including the following:
- André Villeneuve, Chairman, IBA
- Mary John Miller, Chairperson of the IBA Nominating Committee
- Rod Paris, Chief Investment Officer, Standard Life Investments
- Michel Prada, Chairperson of the IBA Audit and Risk Committee
- David Goone, Chief Strategy Officer, Intercontinental Exchange
- Finbarr Hutcheson, President, IBA
According to André Villeneuve, Chairman of IBA, in a recent statement on the appointment: “I am delighted to welcome DeAnne to the IBA Board. As a highly accomplished Economist, she brings a great deal of experience and knowledge to the IBA board to help us continue on our successful trajectory of improving confidence in global benchmarks.”