Sat, Dec 10, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Futures Industry Association appoints former CFTC Chairman Walter Lukken as President and CEO

Tuesday, January 10, 2012
Opalesque Industry Update: The Futures Industry Association announced today that its board of directors has appointed Walter Lukken as president and chief executive officer. Lukken brings to the FIA many years of experience in government as well as expertise in the mechanics of clearing, a critically important issue for the FIA and its members. He succeeds John Damgard, who has been the head of the association since 1982.

“We are delighted to announce this appointment. Walt is a tremendously talented individual with extraordinary experience and industry knowledge, and we are very fortunate to have someone of his caliber to lead the FIA at this important moment in its history,” said Michael Dawley, chairman of the FIA and co-head of futures and derivatives clearing services at Goldman, Sachs & Co.

The appointment concluded a selection process that began in March 2011, when Damgard announced his plans to retire. Lukken will take up the new position in time for the next annual meeting of the FIA board of directors scheduled for March 12. Damgard will remain with the organization as a senior advisor.

During his career in Washington and New York, Lukken has held a wide range of senior roles dealing with legislative, regulatory and industry matters. He served as counsel to the Senate Agriculture Committee, working under then-chairman Senator Richard Lugar (R-Ind.) on all legislative matters related to the oversight of the futures markets. In 2002 he was nominated by President George Bush to serve as a Commissioner of the Commodity Futures Trading Commission. During his time at the CFTC, he chaired the agency’s global markets advisory committee, and for 18 months during 2007 and 2008 he served as the agency’s acting chairman. Currently he is the chief executive officer of New York Portfolio Clearing, a derivatives clearinghouse jointly owned by NYSE Euronext and the Depository Trust and Clearing Corporation.

“I am thankful to the FIA for this opportunity and thrilled by the challenge of leading the FIA during this critical time for the industry,” said Lukken. “John Damgard has provided tremendous leadership for nearly thirty years to these markets, and I hope to continue to offer a steady hand and confront the challenges that lie ahead. I am very grateful to both NYSE Euronext and DTCC for the opportunity to lead NYPC through its regulatory approval and successful launch. I return to Washington, D.C. knowing that NYPC is both well-managed and well-positioned to provide a robust and competitive clearing service to the industry.”

Damgard has served as the association’s president since 1982. Under his leadership, the association has grown to more than 270 members from nearly 30 countries. He is widely recognized as a premier spokesman on all issues related to the futures, options and over-the-counter cleared derivatives markets.

“John has been the face of this industry over the last three decades," said Dawley. "He has played a central role in its growth and evolution. He has made the FIA the go-to organization for the listed derivatives business, and he has spearheaded the association’s success in attracting a truly global list of members. We wish him the best and look forward to his continued guidance as an adviser to the FIA.”

“Leading this association has been an honor and a privilege, and I look forward to handing over the reins to Walt at the next annual meeting,” said Damgard. “I can’t think of anyone better qualified to lead the association at this time. His regulatory and legislative experience and leadership skills will be a tremendous asset as this industry engages in the far-reaching structural reforms mandated by Dodd-Frank and similar laws around the world.”

Futures Industry

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest