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Intercontinental Exchange (NYSE:ICE), the leading global network of exchanges and clearing houses, today announced that ICE Benchmark Administration (IBA) has appointed Dame DeAnne Julius, a founding member of the Monetary Policy Committee of the Bank of England, as a Director of IBA. The appointment is effective immediately.
Dame DeAnne’s appointment has been approved by the Financial Conduct Authority (FCA) and she joins the following directors on the Board of IBA:
- André Villeneuve, Chairman, IBA
- Mary John Miller, Chairperson of the IBA Nominating Committee
- Rod Paris, Chief Investment Officer, Standard Life Investments
- Michel Prada, Chairperson of the IBA Audit and Risk Committee
- David Goone, Chief Strategy Officer, Intercontinental Exchange
- Finbarr Hutcheson, President, IBA
“I am delighted to welcome DeAnne to the IBA Board. As a highly accomplished Economist, she brings a great deal of experience and knowledge to the IBA board to help us continue on our successful trajectory of improving confidence in global benchmarks.” said André Villeneuve, Chairman of IBA.
“I am greatly looking forward to joining my colleagues on the IBA board and contributing to their important work in developing and managing financial benchmarks that investors and borrowers can trust,” said Dame DeAnne Julius.
IBA is an independent subsidiary of ICE. It operates a robust oversight and governance framework including an independent board, with a majority of independent non-executive directors.
In 2013, IBA was appointed as the administrator of LIBOR following a rigorous selection process sponsored by HM Treasury (UK) and Chaired by Baroness Hogg (Hogg Tendering Advisory Committee for LIBOR). IBA began administrating LIBOR in February 2014; and the administration of ICE Swap Rate (formerly ISDAFIX) began in August 2014. In 2015, IBA became the new administrator for the LBMA Gold Price (formerly the London Gold Fix).
Background
Dame DeAnne Julius is chair of University College London, and an independent non-executive director of Jones Lang LaSalle (USA). From 2003-2012, she was chairman of the Royal Institute of International Affairs (Chatham House,UK).
Dame DeAnne serves on the advisory boards of Temasek (Switzerland), Rock Creek Global (US) and the China Investment Corporation. She is vice president of the Society of Business Economists in the UK.
From 1997-2001, Dame DeAnne was a founder member of the Monetary Policy Committee of the Bank of England. From 2001-2004 she served on the Court of the Bank.
Prior to joining the MPC, she held a number of positions in the private sector including chief economist at British Airways and Shell. She has been senior economic advisor at the World Bank and a consultant to the IMF and UNCTAD.
Dame DeAnne is a dual US/UK citizen. She holds a BSc from Iowa State University and a Ph.D in economics from the University of California.
In 2012, DeAnne was made a Dame for her services to international relations.
