Moulds New FMSB CEO
Posted by Colin Lambert. Last updated: May 11, 2023
Jonathan Moulds has been named as the new CEO of the Financial Markets Standards Board (FMSB), replacing Mark Yallop, who steps down after seven years in the role. He takes up the role on 1 June.
Moulds has extensive experience in financial services and has worked in the UK, US and Asia during his career. He spent the majority of his career at Bank of America where he became head of the bank’s international businesses and subsequently European president of Bank of America Merrill Lynch and the CEO of Merrill Lynch International following the merger of the two companies in 2009. He was most recently group COO at Barclays.
Since leaving Barclays, he has taken on a number of non-executive roles and is currently the senior independent director and chair of the risk committee at IG Group, chair of Citi’s international broker dealer CGML and chair of Litigation Capital Management, a listed litigation finance provider focused on global commercial disputes.
During his career, he has been active in numerous industry bodies including as chair of the International Swaps and Derivatives Association (ISDA), an inaugural board member of the Association of Financial Markets in Europe (AFME) and a board member of the Global Financial Markets Association (GFMA). He was the founding chair of OTCDerivNet, the online clearing initiative for OTC products.
“Taking on the chair of FMSB gives me further opportunity to contribute to many aspects of financial markets as participants continue to grapple with age-old imperfections and new challenges; be those from the advanced application of machine learning in trading to the markets’ transition to net zero,” says Moulds. “Trust, transparency and coalescence across the financial sector matter more now than ever. I look forward to building on Mark’s stewardship of FMSB and working with members, key stakeholders, as well as the secretariat, in pursuit of this.”
Yallop adds, “Recent events demonstrate the vital importance of well-functioning, fair and effective financial markets. FMSB’s purpose and mission are as important today as they were when it was established in 2015.
“As I approached the seventh anniversary of chairing FMSB, I decided that the time had come for another chair to oversee the next stage of its development,” he continues. “I am delighted that Jonathan is taking on this role and take great pleasure from the fact that FMSB has an experienced board of non-executive directors, with wide industry experience, who oversee a robust governance structure, and a CEO in Myles McGuinness who is leading the drive to expand membership, work with members to produce excellent Standards and publications and broaden our scope beyond FICC.”