| NEW YORK
NEW YORK Oct 2 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
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
His U.S. responsibilities at Deutsche will be
overtaken by Robert Lee, said a person familiar with the
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