Deutsche's Diplas in talks for ISDA adviser role-source
NEW YORK Oct 2 (Reuters) - Athanassios Diplas, Deutsche Bank's former global head of systemic risk, is in talks to take an advisory or consulting role with derivatives trade group the International Swaps and Derivatives Association, after leaving Deutsche Bank on Monday, said a person familiar with the situation.
Diplas is viewed in the industry as one of the leading voices for banks seeking to shape reform in the $648 trillion derivatives markets as they move towards regulation.
Diplas, who could not be reached for comment, is not expected to work full-time at ISDA, said the person. Deutsche spokeswoman Renee Calabro and ISDA spokesman Steven Kennedy declined comment.
His U.S. responsibilities at Deutsche will be overtaken by Robert Lee, said a person familiar with the situation.
Diplas has been influential by serving on several key industry committees, and he has also been amongst the most active market participants in meeting with regulators in the U.S. and Europe as they develop rules to govern derivatives.
Reforming the credit and interest rate derivatives markets is one of the top priorities of global regulators after the contracts were blamed for contributing to, and exacerbating, the 2007-2009 financial crisis.
Diplas is currently co-chair of ISDA's Industry Governance Committee and co-chair of the group's Credit Steering Committee, and he will continue to be active in these areas, said a person familiar with the discussions.
Diplas is also a board member at ICE Clear Credit, the clearing arm of IntercontinentalExchange Inc, according to his Linkedin profile.
He has also acted on ICE Clear's credit risk committee, said people familiar with the situation. ICE spokeswoman Brookly McLaughlin declined comment.
Deutsche Bank said in July it will cut 1,900 jobs, mainly outside of Germany, in an effort to achieve savings of around 3 billion euros ($3.88 billion) and as part of a broader strategic overhaul.