Advisory Council

Professor Dr. R. J. (Ron) Berndsen

Head of the Oversight Department at De Nederlandsche Bank

Endowed Professor Financial Infrastructure & Systemic Risk at the University of Tilburg

Professor Dr. R.J. (Ron) Berndsen is Head of the Oversight Department of De Nederlandsche Bank and attached to the department of Economics at the University of Tilburg as an endowed professor of Financial Infrastructure and Systemic Risk.  He is also a member of the Payment and Settlement Systems Committee of the European System of Central Banks and the cooperative oversight committees for CLS, Euroclear, LCH.Clearnet and SWIFT.  He has worked for De Nederlandsche Bank since 1992, including in various management functions in the field of monetary and economic policy.  He was awarded a doctorate with the Faculty of Economics and Business Administration of the University of Tilburg in 1992 for his thesis entitled ‘Knowledge representation and qualitative reasoning in economic models’.

Sir Howard Davies

Professor of Practice at the French School of Political Science (Sciences Po)

Howard Davies is currently a Professor of Practice at the French School of Political Science in Paris (Sciences Po). On October 1, 2012, he will become Chairman of the Phoenix Group.  He was the Director of the London School of Economics and Political Science from 2003 until May 2011. Prior to this appointment he was chairman of the UK Financial Services Authority from 1997 to 2003.  From 1995 to 1997 he was Deputy Governor of the Bank of England, after three years as the Director General of the Confederation of British Industry.

Earlier in his career he worked in the Foreign and Commonwealth Office, the Treasury, McKinsey and Co – where he spent five years – and as Controller of the Audit Commission.  He has been an independent Director of Morgan Stanley Inc since 2004, and chairs the Risk Committee. He also chairs the Risk Committee at Prudential PLC, joining its board in 2010. He is a member of the Investment Strategy Committee of the Government Investment Corporation of Singapore, and of the Regulatory and Compliance Advisory Board of Millennium LLC, a New York-based hedge fund. He has also been a member of the International Advisory Board of the China Banking Regulatory Commission since 2003.
In 2006 he edited and introduced The Chancellor’s Tales (Polity Press) on British economic policy from 1975 to 2000. In 2008 he jointly authored Global Financial Regulation: The Essential Guide (Polity Press) with David Green. Banking on the Future: The Fall and Rise of Central Banking, also by Davies and Green, was published in April 2010 by Princeton University Press.  His latest book, ‘The Financial Crisis:  Who is to blame?’ was published by Polity Press in July 2010.

You can follow Howard Davies on-line thorugh Project Syndicate

Professor Darrell Duffie

Dean Witter Distinguished Professor of Finance at the Graduate School of Business, Stanford University

Darrell Duffie is the Dean Witter Distinguished Professor of Finance at the Graduate School of Business, Stanford University.  He is a Fellow and Member of the Council of the Econometric Society, a Research Fellow of the National Bureau of Economic Research, a Fellow of the American Academy of Arts and Sciences, a member of the Financial Advisory Roundtable of the Federal Reserve Bank of New York, a member of the board of directors of Moody’s Corporation since 2008, and the 2009 president of the American Finance Association.  Duffie’s research focuses on valuation and risk in financial markets.  His most recent books are How Big Banks Fail – And What to Do About It (2010) and Dark Markets (2011), both published by Princeton University Press, and Measuring Corporate Default Risk (2011, Oxford University Press).  Web page: www.stanford.edu/~duffie/

Guillermo Ortiz

Chairman of Grupo Financiero Banorte-IXE

Guillermo Ortiz is Chairman of Grupo Financiero Banorte-IXE. He was Governor of the Bank of Mexico from 1998 to 2009, and Secretary of Finance and Public Credit of the Mexican Federal Government from 1994 to 1997. Prior to heading the Finance Ministry, he served briefly as Secretary of Communications and Transportation at the outset of the Zedillo Administration. Other professional experiences include being Undersecretary of Finance and Public Credit (1988-1994), Executive Director at the International Monetary Fund (1984-1988) and Manager of the Economic Research Department of the Bank of Mexico (1977-1984). In 2006, he was appointed to the Board of the Bank of International Settlements (BIS) and was elected Chairman of the Board in 2009. At the BIS he also chaired the Central Bank Governance Forum. He was also a member of the Committee to Study Sustainable Long-term Financing of the IMF (2006-2007), and of the Committee on IMF Governance Reform (2008-2009). At the IMF he also chaired the External Panel for the Review of the Fund’s Risk Management Framework (2010-2011). Currently, he is a member of the Group of Thirty. He is also director and member of other international organisations and serves on the Board of several companies. Dr Ortiz has taught at universities in Mexico and the United States. He has written and published two books and numerous papers on economics and finance in specialised journals in Mexico and abroad, and has received several honours and awards.

John Trundle

Chief Executive Officer, Euroclear UK & Ireland Ltd

John Trundle is Chief Executive Officer of Euroclear UK & Ireland and the former Chief Risk Officer of the Euroclear Group and Executive Director of Euroclear Bank SA/NV.  He joined Euroclear in 2005 from the Bank of England where he was the Head of Oversight of Market Infrastructure and of the Business Continuity divisions and a former private secretary to the Governor.   He began his career, after Cambridge University, as a monetary policy economist and also holds an MBA from the London Business School.   He chaired the working group of the Basel Committee on Payment and Settlement Systems which produced the Core Principles for Systemically Important Payment Systems.

Yawar Shah

Chief Operating Officer, Customer Intelligence, Citi

Chairman of the Board of Directors, SWIFT

Yawar Shah has been a SWIFT Director since 1995, Deputy Chairman of the Board since 1996, and Chairman since June 2006. He is the Chief Operating Officer, Customer Intelligence, Citi and before that was the Global Head of Citi Shared Services. Prior to this, Mr Shah was at J.P. Morgan for more than 20 years. Positions there included: Global Operations Executive for Worldwide Securities Services, Retail Service and Operations Executive, Chief Operating Officer of the Global Private Bank, and General Manager of the Treasury Management Services business. He received his BA from Harvard College and his MBA from Harvard Business School.

Gottfried Leibbrandt

Chief Executive Officer, SWIFT

Succeeded Lázaro Campos as CEO of SWIFT in July 2012. Gottfried Leibbrandt joined SWIFT in 2005 to focus on the development of the SWIFT2010 strategy.  Upon completion of the strategy, he was appointed as Head of Standards and then in 2007, was promoted to Head of Marketing.  Prior to joining SWIFT, Gottfried worked for McKinsey & Company for 18 years where he was a partner in the Amsterdam office and a co-leader of the European payments practice.  He holds a Masters degree in Econometrics and Statistics from the Vrije Universteit Amsterdam and a MBA from the Stanford Graduate School of Business.  Gottfried also holds a PhD in Economics from Maastricht University.  His thesis was “Payment instruments and network effects: Adoption, harmonization and succession of network technologies across countries”.