In other news, Vermeg works with Cassini, ABN Amro has management reshuffle, S&P Global acquires and key law firm launches regtech consultancy.
CFTC appointee has 20 years of diversity experience
Tanisha Cole Edmonds was named the CFTC’s first chief diversity officer and tasked with helping the agency advance diversity, equity, inclusion, and accessibility (DEIA) at all levels, officials said.
Edmonds, who reports to Rostin Behnam, chairwoman of the CFTC, will oversee the Office of Minority and Women’s Inclusion.
“I look forward to developing and implementing a bold and innovative DEIA strategy that delivers results, encourages accountability and effectively communicates the President’s vision for DEIA as a core business strategy to achieve the mission of the CFTC,” Edmonds said in a statement.
Prior to joining the CFTC, Edmonds served as a senior staff member in the U.S. Department of the Interior as Deputy Director of the Office of Diversity, Inclusion, and Civil Rights and as a labor and employment law attorney. employment for the US Postal Service and as a technical adviser for the US Secret Service.
She also served as the first technical consultant to senior management and the liaison between the Office of Legal Counsel, the Office of Human Resources and the Office of Equal Opportunity, officials said.
Edmonds began her career as an attorney at the Washington, D.C. law firm Passman & Kaplan, PC” where she argued employment discrimination claims before the Equal Employment Opportunity Commission. Employment, the Merit Systems Protection Council, and the U.S. District Court for the District of Columbia,” according to the CFTC.
“She brings a wealth of experience in developing workplace diversity, equity, inclusion and accessibility strategies,” Behnam said in a prepared statement. “As I noted in 2019 as commissioner, hiring data shows the CFTC continues to fall short of this critical commitment, particularly with respect to executive-level employment opportunities. This can undermine the success of the agency and its individual employees, and this must change.
Vermeg Suite adds Cassini margin analysis
Vermeg, a provider of banking, capital markets, insurance and digital software solutions, has integrated its Colline collateral suite with the margin analytics platform from Cassini Systems, a provider of margin and revenue analytics. pre-trade and post-trade guarantees for derivatives markets, officials say.
The addition is intended to give Vermeg customers a tool “to achieve cost savings and help address [the September 2022] requirements of the Unmatched Margin Rules (UMR),” according to Vermeg officials. UMR deadlines require financial services firms to comply with initial margin (IM) requirements for uncleared OTC derivatives, exchange-traded derivatives (futures and options), repos and securities lending. securities and prime brokerage.
The integration includes Cassini’s Standard Initial Margin Model (SIMM) and a standardized approach calculation service to pre- and post-trade and margin methodologies of exchanges, central counterparties (CCPs) and prime brokers offering companies full transparency across all asset classes, officials say.
Departure of ABN Amro Chief Innovation and Technology Officer
ABN Amro’s chief innovation and technology officer will leave the bank on May 1, 2022, officials report.
Christian Bornfeld, the departing CI&TO, “has accepted a position closer to his home and family in Denmark,” according to the bank’s statement, which also notes that the “search process for a new CI&TO has been initiated.”
Bornfeld said in a statement: “It is with mixed emotions that I will bid farewell in a few months. I have enjoyed working with all my colleagues at ABN AMRO immensely and would like to thank them. The passion, professionalism and expertise of ABN AMRO are exceptional — L.Ch
S&P Global acquires The Climate Service
S&P Global purchased The Climate Service, Inc., which was founded in 2017.
The Climate Service is based in Durham, North Carolina, and specializes in providing environmental, social and governance (ESG) data.
“Through this acquisition, S&P Global will be able to offer its clients even more transparent, robust and comprehensive climate data, models and analytics,” the financial data and analytics provider said in a statement, which notes that “The Climate Service, Inc. has developed a physical climate risk analysis application for businesses, investors and governments.
The app “quantifies climate risk”, models “physical risk, including extreme temperatures, drought, wildfires, coastal flooding, cyclones and water stress, while providing clients with information on transition risks, including changing legal, regulatory and market conditions.
Evercore acted as financial advisors and Cahill Gordon & Reindel LLP acted as legal advisors to S&P Global, according to the statement. —L.Ch
Nelson Mullins Launches Regulation and Compliance Cconsultation
Nelson Mullins Riley & Scarborough LLP reports that it has launched Assureg, a compliance and regulatory advisory division “providing clients with bespoke, bespoke compliance solutions overseen by the firm’s lawyers.”
The new division’s name stands for Insurance + Regulation, according to a statement.
Based in Columbia, South Carolina, the law firm adds that Assureg “complements the firm’s traditional legal services offering and provides attorney-focused compliance and regulatory advisory services to senior executives, general counsel, senior management and compliance professionals in the financial, services and FinTech industries.Assureg’s mission is to provide the industry with practical and actionable regulatory advice with the protection essential to the lawyer’s professional secrecy and competitive and flexible rates.
The managing director of Assureg is Anastasia D. Stull.
Assureg’s management group also includes Dowse Bradwell (“Brad”) Rustin, IV, Partner and Chair of Nelson Mullins Financial Services Regulatory Practice, and Partners J. Brennan Ryan and CRaig Nazzarro.
Nelson Mullins was established in 1897. It has more than 800 attorneys and government relations professionals with offices in 11 states and Washington, DC, according to the firm’s statement. —L.Ch