The Global Financial Markets Association (GFMA) has announced leadership changes with the appointment of Adam Farkas and Leonardo Arduini.
Farkas, the chief executive of the Association for Financial Markets in Europe (AFME), will replace Kenneth E. Bentsen, Jr., president and CEO of the Securities Industry and Financial Markets Association (SIFMA), as CEO of GFMA.
Additionally, Leonardo Arduini, head of Europe, the Middle East and Africa Markets at Citi, will take over as chair of GFMA, replacing senior managing director and head of wholesale at Nomura Steve Ashley.
Both hires will carry their roles for a two-year term.
Commenting on the announcement, Farkas says: “I am honoured to take up the baton from Ken and to continue playing a leading role in helping GFMA members to identify key financial regulatory policy issues with a global impact on financial markets, support the development of industry positions based on strong evidence, and constructively engage with the global regulatory community in addressing these evolving global priorities.”
Arduini adds: “I am delighted to take up the role of GFMA Chair, representing the global financial markets industry on the most important global markets issues. In 2022, there will continue to be challenges for markets in the post-pandemic economic recovery period.
“The GFMA therefore plays a vital role in helping to shape the evolution of international capital markets, as the industry navigates sustainable finance policy developments, new technologies and the ever-changing regulatory environment.”
