January 17, 2019 - This week, the LSTA held its Annual Meeting to review 2018 efforts, preview 2019 initiatives and vote in its board. We briefly recap all below.
As Executive Director Lee Shaiman noted in his address, the LSTA now has more than 450 member firms with more than 23,000 individual members who have the opportunity to use our data, research and documents, attend our conferences, webcasts and meetings, read our newsletter and reach out with questions ranging from settlement disputes to LIBOR cessation.
And we plan to keep these benefits coming. In 2019, we will continue to work on delayed compensation and develop documents that make trading more efficient. Like 2018, the LSTA will continue to meet with regulators, lawmakers and the press to clarify where risks are in the loan market – and where they are not. One risk that we are tackling head on is the risk (high probability) that LIBOR ceases after 2021. Some $4 trillion of U.S. syndicated loans reference LIBOR; we cannot, as an industry, ignore this risk. The LSTA is on the ARRC, co-chairs the ARRC Bank Loan Working Group and has three senior staff focusing on the issue. And finally, after offering more than 30 conferences, seminars and podcasts last year, we are expanding our educational initiatives in 2019 with the development of LSTA University. (Stay tuned!)
We cannot do all this with just our staff of 14 (yes, 14!). The LSTA Board contributes considerably to the LSTA’s vision, strategic initiatives and tactical execution. And so, we’d like to thank our board.
First, we’d like to thank retiring members Matthew Tuck of Credit Suisse and Christine Jamieson of Golub Capital, both of whom served six years on the LSTA Board. Second, we’d like to welcome new board members Jeff Cohen, head of capital markets at Credit Suisse and Thomas Wong, Partner at Oak Hill Advisors. For a full accounting, below is the LSTA Board. We look forward to working closely with them in 2019.
Mitali Sohoni, Citi – Chair
Scott Baskind, Invesco – Vice Chair & Treasurer
Jeff Bakalar, Voya – Vice Chair
Chris Bonner, JPM – Vice Chair
John Gally, Morgan Stanley – Secretary
Gretchen Bergstresser, CVC
Stephen Casey, Neuberger Berman
Mike Clawson, Wells Fargo
Jeffrey Cohen, Credit Suisse
Wynne Comer, BAML
Sandeep Desai, Deutsche Bank
Judith Fishlow Minter, RBC
Erica Frontiero, The Carlyle Group
David Lerner, Shenkman Capital
David Lischer, Goldman Sachs
Peter Nolan, Antares
John Popp, CS Asset Management
Chris Sheldon, KKR
Alex Spiro, PNC
Alex Stromberg, Barclays
Andrew Sveen, Eaton Vance
James Vanek, Apollo
Carly Wilson, BlackRock
Tommy Wong, Oak Hill Advisors