Rule Financial taps ex-UBS OTC specialist
Rule Financial, an investment banking
consultancy, has appointed former UBS executive Marina Potok as an advisor for OTC, structured and securitised products.
Potok, who will be based in London and report to
Jim Warburton, head of the domain group, joins Rule Financial just months
before the introduction of OTC derivatives market reforms across the globe.
The new rules, enshrined in the Dodd-Frank Act in
the US and the European market infrastructure regulation in Europe, will
standardise swaps so they can be centrally cleared and traded on exchange-like
platforms, with higher margin requirements for bilateral trades. Asian markets
– including Japan, Hong Kong and Singapore – are also in the process of
establishing new OTC derivatives laws.
The new legislation will require market
participants to reevaluate workflows for swaps trading, including establishing
relationships with clearing houses, connectivity to trading venues and
Potok’s previous role at UBS was as global head
of structured rates middle office. She has also worked at Goldman Sachs,
Merrill Lunch and at J.P. Morgan Chase in New York as a business analyst and on
a number of derivatives projects.