The International Swaps and Derivatives Association, Inc. (ISDA) has promoted Katherine Tew Darras as its newest General Counsel, following a lengthy tenure with the group, according to a recent ISDA statement.
ISDA focuses on the global derivatives marketplace and industry, boasting over 850 member institutions from 67 countries. More specifically, the group engages in risk management practices and processes, whilst working constructively with policymakers and legislators around the world to help advance and engender understanding and treatment of derivatives as a risk management tool.
Ms. Tew Darras steps into her role with immediate effect, and will be tasked with spearheading ISDA’s efforts to foster a host of new legal standards, documentation and opinions, whilst supporting globally cleared and non-cleared derivatives businesses. As General Council, she will also help pioneer a variety of initiatives to help advance compliance measures with new emphasis on derivatives regulations.
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Ms. Tew Darras originally joined ISDA back in November 2001 as its Assistant General Counsel – this subsequently paved the way for an appointment as the General Counsel for the Americas in 2008.
According to Scott O’Malia, ISDA’s Chief Executive, in a recent statement on the appointment: “Katherine has been with ISDA for the past 15 years and knows the organization inside and out, and I am counting on her to provide sound legal advice as General Counsel, just as she has throughout her time at ISDA. We are delighted she will continue to provide critical leadership to this organization during an important period of market change.”
“New regulations and evolving market structures are changing the dynamics of the derivatives market, while new technology is altering how the derivatives business in run. It’s vital that ISDA continues to evolve its documentation and standards, and the means of delivering this material, to keep pace with these changes,” reiterated Ms. Tew Darras.