Stock Lending Today - An Industry Under Siege!

Global Securities Lending & Investor Services Journal - Appointment

The following Press Release was made earlier today:

27 October 2009

Roy Zimmerhansl has been appointed editor-in-chief of Global Securities Lending (GSL), Investor Services Journal (ISJ), GSL.tv and ISJ.tv.

In 2010 Roy will celebrate 30 years in the securities services industry having started in a depositary company and experienced custody, prime brokerage, investment banking and lending platforms during his career at Nomura International, Deutsche Bank, ICAP, Rabobank and with FinTuition, the training provider.

“Communicating what is going on within the industry and influencing what’s going on externally has never been more important,” stated Roy.

“ISJ and GSL cover the whole securities services universe; the engagement with the customers and regulators needs to broaden and deepen.”

“Roy brings a depth of understanding and knowledge to our audience at a time when securities services are facing change. The synergies between the web television services and FinTuition’s courses enable us to fully serve the industries,” said Jon Hewson, managing director of 2i Media.

By Craig McGlashan

Over the course of the year I have been working increasingly closely with the people at GSL/ISJ and I am very pleased to be taking the relationship to this next level.  The industry has never faced so many challenges from within and without and this is a unique opportunity for me to help widen and deepen the discussion and debate across the spectrum of interested parties - from direct market participants through to beneficial owners, hedge funds, regulators and politicians. 

So, more than ever I am interested in your views, comments and ideas on the most important issues that you face in the securities finance and custody businesses.  Tell me what's at the top of your agenda at roy@2ipartners.com

FinTuition and Zimmerhansl Consulting are still very much on the agenda for me and perhaps surprisingly, the added responsibility that the role brings will be offset by the additional resources that GSL/ISJ bring to the table and will enhance the activities for all three parts of my business activities.

Learning About Securities Lending

There are no doubt several aspects to learning about securities lending.  Two of the key issues are Training and Discussion/Debate.  Taken together, the market will move forward for the benefit of all participants.  Today's blog will comment on both, starting with the latter item.

Discussion/Debate

I am in the final stages of preparing for the GSL.tv conference in Amsterdam on Thursday.  This should be a fascinating event with a wide range of market participants on the panels and in the audience.  We have also constructed the panels to take into account differing views, including a Beneficial Owner that stopped lending in the post Lehman environment.  The Dutch Beneficial Owner community is more sophisticated than investors from many other countries.  And as I know from my days at Rabobank, the Dutch aren’t hesitant in sharing their views!

It’s a half day event that starts with a market overview including an update from a panellist at last week’s SEC Roundtable in Washington.  We will also have an academic view on short selling before moving on to two market participant panels – one focussed on Beneficial Owners generally and the second one is Securities Lending Risk specifically. 

It should be an interesting and challenging afternoon.  It’s free to invited guests and subscribers, so if you are interested in attending, register now.  http://gsl.tv/event/149/dutch-securities-lending-summit-oct-2009

Training

As many of you will know, I purchased FinTuition about 6 weeks ago.  FinTuition is a specialist Securities Finance and Hedge Fund training company.  Although we have offered courses since my purchase, I haven't taught one myself yet.  That is about to change.  On 19 & 20 October I will be conducted the International Securities Lending course at our offices in Mayfair. 

I am excited about that, and I will be bringing some other market professionals to give their comments and views.  I really enjoy the educational aspect of my work and am looking forward to the session.  If you or your colleagues are interested in joining me, you can see more about the course by clicking here. 

I hope to see you in Amsterdam or on my course!  Maybe both ...