DUBLIN, July 10, 2022 /PRNewswire/ — Nearwater Capital today announced the formal appointment of Gary Barnett and John Willian as non-executive directors on the board of directors of Nearwater Capital Markets, Limited (Nearwater Capital Markets). Nearwater Capital Markets is the company’s new securities swap broker (SBSD). Following the appointment, the board will be composed of 5 directors, including three independent or non-executive directors, including the chairman Saint Davinasenior banking executive and independent director based in Ireland.
Ms. Saint confirmed:
“I really look forward to working with Gary and John. Gary brings a wealth of expertise and knowledge of exchange brokerage regulation to the firm, and John’s deep experience in the trading and funding markets will be an invaluable asset to the board.”
Mr. Barnett has extensive experience in the policy, regulation and supervision of swap dealers and securities swap dealers. He was appointed by the Honorable Gary Gensler to the Commodity Futures Trading Commission (CFTC) in 2011 as the first Director of the CFTC’s Swap Dealer and Intermediary Oversight Division (now the Market Participants Division), where he established registration and compliance programs for Swap. Dealers under the new regulatory regime established by the Dodd Frank Act. Mr. Barnett led the responses to the Futures Merchant (FCM) and RFED crises in the aftermath of MF Global, including the refocusing of the CFTC’s examination program and the creation and adoption of the Trade Protection Rules. FCM customers to CFTC.
In 2015, Mr. Barnett left the CFTC to join the Securities and Exchange Commission (SEC) as Deputy Director of the Trading and Markets Division, where he oversaw the Office of the Broker Finance Division, the Office Derivatives Policy, Commerce Bureau. Practices and its Volcker Rule team in addition to various global regulatory initiatives.
Mr. Willian is a former partner of Goldman Sachs, having spent more than 28 years in a variety of senior sales, trading and financial markets roles.
At Goldman Sachs, Mr. Willian’s responsibilities included serving as Global Head of Principal Services within Global Securities Services and managing Goldman Sachs electronic trading and futures businesses, Municipal Sales and Transactions and Goldman’s global money markets activities. Prior to his retirement, Mr. Willian was Global Head of Fixed Income Sales at Goldman.
Mr. Willian has also served as a member of Goldman’s Finance Committee, the Securities Division’s Business Practices Committee, as well as the company-wide New Products Committee.
Ms. Saint, director since 2022, was Legal Director of the BNP SA Group in Ireland for 19 years, before becoming branch manager at Ireland for BNP Paribas’ Securities Services activity. Ms Saint has served on various boards of the BNP Paribas Group, including their Prime Brokerage lending company and the bank’s main Irish holding company (BNP Paribas Ireland.) In 2020, Ms Saint was appointed by the Department of Finance as Director of the National Agency for Asset Management where she is an Independent Director and chairs the Remuneration Committee. She also sits on the board of directors of BlackRock Global Funds plc in Luxemburg.
About Capital Markets Near Water
Nearwater Capital Markets was established and capitalized in 2021 in Ireland and is owned and operated by Nearwater Capital. Nearwater Capital Markets will register with the SEC as a securities exchange broker with the aim of being the primary hedging and risk mitigation counterparty for global banks via total return swaps. Capital Markets’ business model will build on the success of Nearwater’s Liquid Markets franchise, which has grown to $14.5 billion of assets since its creation in 2019.
About Nearwater Capital
Nearwater Capital, LP (“Nearwater Capital”) is a specialty finance company that was established in 2017. The company is a leading provider of funding to sponsors to assist with compliance with Dodd-Frank and other requirements global risk retention companies and one of the largest sponsors of secured debt programs. Over the past two years, the company has experienced strong growth, with its workforce doubling and a balance sheet currently in excess of $18 billion. dollars at the end of 2021.
SOURCE Nearwater Capital