The global board of the Securities Industry and Financial Markets Association (SIFMA) has expanded its coverage of the equities markets with the integration of European Securities Forum (ESF) with a newly-formed unit, the European Primary Markets Division (EPMD). SIFMA Europe had previously focused on the primary and secondary fixed-income markets.
“The integration of the ESF and the creation of the EPMD are instrumental in fulfilling our strategic objective of being a full-service, member-focused and pan-European trade association,” said Karsten Moller, senior managing director and head of Europe and Asia at SIFMA, in a statement. “Both additions also complement existing SIFMA activities in the US and Asia.”
EPMD will cover new issues of equity and equity-linked securities in primary markets. The ESF, which represents major international banks operating in the European securities markets, will be the centre of competence for clearing, settlement and custody for SIFMA Europe, the association says.
Werner Frey, formerly the ESF’s CEO, will become the managing director of the new division, which will be renamed the European Securities Services Forum (ESSF). Lorraine Charlton will lead the EPMD, after serving as the executive director, regulatory policy and general counsel for SIFMA affiliate the European High Yield Association.
“Frey and Charlton will help us to develop and grow our membership base to include the whole European community, and to ensure both divisions will be truly independent in championing issues relevant to their members in their respective areas,” said Moller.