Release Date: 29 July 2013
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GFMA Global FX Division Appoints Managing Director for Europe
Andrew Harvey has been appointed Managing Director, Europe for the Global FX Division¹ of the Global Financial Markets Association (GFMA)2. In this role he reports to James Kemp, Managing Director of the Global Division.
He joins the Global FX Division from Morgan Stanley, where he spent seven years, first as EMEA Head of Foreign Exchange Operations, then as Global Head of FXEM Derivatives Operations and, more recently, as Chief Operating Officer of Derivatives Operations. He previously spent nine years working in the FX operations of Goldman Sachs.
The Global FX Division was formed in June 2010 to promote efficient global foreign exchange markets by monitoring the regulatory developments that could affect such markets and by assisting the industry in establishing an infrastructure capable of supporting the future development and growth of these markets.
It has already taken active steps, working with international regulators, to seek an internationally convergent set of regulations for the global FX markets. This work has included efforts to ensure appropriate risk mitigation techniques for the FX markets as well as the implementation of a foreign exchange trade repository.
Andrew will be responsible for engaging with senior policymakers on a number of European projects that impact the FX market such as EMIR, MiFID and the financial transaction tax. He will also co-ordinate the global coverage of G20 trade reporting requirements for the FX market, including the US, Canadian, Hong Kong, Singapore, Australia and European jurisdictions.
James Kemp, managing director of the GFMA Global FX Division, commented:
“I am delighted that Andrew has joined the Global FX Division team. Global regulatory reform coupled with implementation challenges means that Andrew’s experience and knowledge of the foreign exchange markets will be invaluable as GFMA seeks to ensure that, in the context of this unprecedented market reform, the FX market continues to be efficient, liquid and accessible to all participants.
“His experience will increase the Division’s ability to respond to regulatory demands, including ongoing dossiers such as MiFID, EMIR and the financial transaction tax.”
1. The Global Foreign Exchange (FX) Division was formed as part of the Global Financial Markets Association (GFMA) and its members comprise 22 global FX market participants, collectively representing more than 90% of the FX market (Source: Euromoney 2012).
2. The Global Financial Markets Association (GFMA) brings together three of the world’s leading financial trade associations to address the increasingly important global regulatory agenda and to promote coordinated advocacy efforts. The Association for Financial Markets in Europe (AFME) in London and Brussels, the Asia Securities Industry & Financial Markets Association (ASIFMA) in Hong Kong and the Securities Industry and Financial Markets Association (SIFMA) in New York and Washington are, respectively, the European, Asian, and North American members of GFMA. For more information, visit http://www.gfma.org .