GFMA Statement on Appointment of Randal Quarles as Chair of Financial Stability Board and Klaas Knot as Vice Chair

Washington, D.C., 26 November 2018 – The Global Financial Markets Association (GFMA) today released the following statement from Sylvie Matherat, Chair of GFMA and Chief Regulatory Officer and Management Board Member at Deutsche Bank AG, and Kenneth E. Bentsen, Jr., CEO of GFMA and President and CEO of SIFMA:

“We congratulate Randal Quarles, Governor and Vice Chairman of Supervision at the U.S. Federal Reserve, on his confirmation as Chair of the Financial Stability Board (FSB) and Klaas Knot, President of De Nederlandeche Bank, as Vice Chair,” said Ms. Matherat. “The FSB has an important agenda ahead of it in 2019 and beyond. The financial services industry looks forward to working with Mr. Quarles and Mr. Knot at the FSB.  GFMA provides a collective voice in support of efficient market functioning, economic growth and financial stability and looks forward to working with FSB leadership on policies that promote cross-border capital flows to end–users by efficiently connecting savers and borrowers, benefiting broader global growth.”

“The GFMA extends its thanks to Governor Mark Carney for the important role he has played at the FSB since becoming Chair in 2011,” said Mr. Bentsen.  “He has had a significant impact on leading the FSB in achieving the G20 goals of decreasing systemic risk in the system and we welcome his willingness to engage the industry to accomplish this important goal.”

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The Global Financial Markets Association (GFMA) brings together three of the world’s leading financial trade associations to address the increasingly important global regulatory agenda and to promote coordinated advocacy efforts. The Association for Financial Markets in Europe (AFME) in London and Brussels, the Asia Securities Industry & Financial Markets Association (ASIFMA) in Hong Kong and the Securities Industry and Financial Markets Association (SIFMA) in New York and Washington are, respectively, the European, Asian and North American members of GFMA. For more information, visit http://www.gfma.org.

GFMA Media Contacts:
Katrina Cavalli          +1 (212) 313-1181               kcavalli@gfma.org        
Rebecca Hansford  +44 (0)20 3828 2693          Rebecca.Hansford@afme.eu 
Corliss Ruggles        +852 9359 6996                  cruggles@asifma.org