Governor Banque de France

Christian NOYER Governor Banque de France Christian Noyer was born in 1950 near Paris. He studied law in Rennes and Paris and subsequently graduated from the Institut d études politiques de Paris. In 1974, following his military service as an officer in the Navy, he entered the École nationale d administration (ENA). Appointed to the Treasury in the Ministry of the Economy and Finance in 1976, he subsequently spent two years in Brussels (1980 1982) at France s permanent representation to the European Communities. Back at the Treasury, he held a range of posts dealing with both domestic issues (government cash and debt management, banking affairs, financing of industry and state owned enterprises) and international affairs (multilateral issues, export financing). He was appointed Head of the Treasury in 1993. Other posts held include advisor to Edouard Balladur, then Minister of Finance (1986 1988), and Chief of Staff for two other Ministers of Finance, Edmond Alphandéry and Jean Arthuis (1993 and 1995 1997 respectively). He was appointed Vice President of the European Central Bank in 1998 when the institution was set up in Frankfurt, and occupied this position until 2002. His European and international experience includes several years serving on the European Monetary Committee, the position of alternate for the Minister of Finance at the OECD, the G7 and the G10, the position of alternate Governor at the IMF and World Bank, and the chairmanship of the Paris Club (1993 1997). Since 1 November 2003, he has been Governor of the Banque de France, where he chairs the General Council. He has been reappointed in October 2009. He is Chairman of the Autorité de contrôle prudentiel (ACP the Banking Supervisory Authority), the Banking Mediation Committee and the Observatory for Payment Card Security. He also chairs the supervisory boards of the Institut d émission des départements d outre mer (IEDOM the French overseas departments note issuing bank) and the Institut d émission d outre mer (IEOM the French overseas note issuing bank). He is a member of the Governing Council and General Council of the European Central Bank, Chairman of the Bank for International Settlements and alternate Governor at the International Monetary Fund. Banque de France Financial Stability Review No. 17 April 2013 1

Michael C. BODSON President and Chief Executive Officer The Depository Trust & Clearing Corporation (DTCC) Michael C. Bodson is President and Chief Executive Officer of DTCC, a position he assumed on July 1, 2012, succeeding Donald F. Donahue. He is also CEO of DTCC s principal operating subsidiaries, DTC, FICC and NSCC, and a member of DTCC s Board. In his prior position as Chief Operating Officer, Bodson had enterprise wide responsibility for all Information Technology and Operations at DTCC and oversaw two major businesses: DTCC s Deriv/SERV LLC for over the counter (OTC) derivatives and EuroCCP, DTCC s European clearing and settlement organisation. Bodson joined DTCC in 2007 as executive managing director for Business Management and Strategy, where he was responsible for consolidating the product management of all DTCC business lines, strategic planning, relationship management and marketing under one umbrella. Prior to joining DTCC, Bodson held a number of senior management positions with Morgan Stanley over a 20 year period. In his last position at Morgan Stanley, he was global head of the Institutional, Retail and Asset Management Operations Department. He also had responsibility for operational risk, business continuity planning and information security. Before that, he served as divisional operations officer for the Institutional Securities Group and head of the Enterprise Information Group. In the mid 1990s, he served as head of Finance, Administration and Operations for Morgan Stanley Japan in Tokyo and prior to that, he held similar responsibilities for Morgan Stanley Asia in Hong Kong. Before joining Morgan Stanley in 1986, Bodson worked at Bear Stearns and Price Waterhouse. He has dual degrees from Boston College, graduating magna cum laude, with majors in Accounting and English. He is also a certified public accountant. 2 Banque de France Financial Stability Review No. 17 April 2013

Christopher DODD US senator (1981 2011) Chairman and CEO Motion Picture Association of America A prolific, respected and highly influential legislator who worked in a bipartisan fashion on issues of immense consequence to the future of his country including financial industry regulation, health care reform, foreign policy and education Chris Dodd provides his straightforward views on current events, what s going on in Washington and what it all means for the country. With thirty years in the US Senate and six years in the US House of Representatives, Chris Dodd built a solid, commanding reputation for independence, vision and effectiveness that few in Washington can match. His presentations reflect his candor and forthrightness on current events and the issues of the day. His sponsorship of the Dodd Frank Act to improve regulation, accountability and transparency of the financial industry in order to protect both the economy and consumers, was only one of the many milestones in a successful career committed to making America safer, stronger and more prosperous. As both the lead sponsor of financial regulatory reform and one of the primary leaders who led the fight for national health care, he helps organisations understand the impact of these landmark bills on the business community, the economy and the consumer. Other legislative accomplishments of note include authoring the Help America Vote Act (HAVA) which he passed with Mitch McConnell following the 2000 Election Cycle, TARP legislation, the Iran Sanctions Bill, mental health parity laws, credit card reform legislation and the India nuclear accords. In addition to his in depth experience leading banking and financial reforms, Dodd is passionate about and an authority on Latin America as well as children and family issues. The founder of the Senate Children s Caucus who was honored as National Head Start Senator of the Decade for his efforts on behalf of children and families, Dodd s passion for youth and education was showcased by his sponsorship of the Family and Medical Leave Act (FMLA) which has profoundly impacted millions of individuals across the country by allowing them to care for loved ones when they are in need. Banque de France Financial Stability Review No. 17 April 2013 3

Craig M. OVERLANDER Chief Executive Officer SG Americas Craig Overlander was named Chief Executive Officer for SG Americas in February 2012. In this role, he is responsible for overseeing Société Générale s activities in the United States, Canada and Latin America. He is also a member of SG CIB s Global and Regional Executive Committees. Craig Overlander joined Société Générale in March 2010 as Deputy Chief Executive Officer for SG CIB in the Americas. In that role, he assisted in developing and executing SG CIB s strategy in the region with a primary focus on expanding the firm s client and business activities. Prior to joining Société Générale, Craig Overlander was a Managing Director and Global Head of Fixed Income at Wachovia Securities. He joined Wachovia in 2008 from JP Morgan where he was Vice Chairman of the Investment Banking Division following the merger of Bear Stearns and JP Morgan. He joined Bear Stearns in 1982 and held a variety of senior management positions during his twenty-six year tenure with the firm. In 1995, he was named Head of Global Fixed Income Institutional Sales, a position he held until being named Senior Managing Director and Co-Head of Global Fixed Income in 2002. In this role he was responsible for all aspects of the firm s fixed income business including sales, trading, research, and capital markets. He was also a member of the Management and Compensation Committee and served on the Board of Directors for Bear Stearns & Co. Inc. Craig Overlander is actively involved in both industry and charitable organisations. He has been a member of the Executive Committee of the BMA (Bond Market Association) and was co-treasurer and an Executive Committee member of SIFMA (Securities Industry Financial Market Association), a role he held after the merger of the BMA and SIA. He is an Executive Committee member of the Board of Boys and Girls Harbor in New York City and has served on the Board of Trustees of Fordham Preparatory School and the New Canaan Country School. Craig Overlander received a BA in Political Science from Williams College. 4 Banque de France Financial Stability Review No. 17 April 2013

Manmohan SINGH Senior Economist International Monetary Fund Manmohan Singh is a Senior Economist at the International Monetary Fund in Washington DC. He continues to write extensively on topical issues including shadow banking; deleveraging in financial markets; rehypothecation and velocity of collateral; money, collateral and central bank QE efforts; and regulatory efforts in moving OTC derivatives to CCPs. He was the first to identify the role cheapest to deliver bonds as a proxy for recovery value in CDS instruments. Manmohan has led workshops for the IMF to official sector policy makers on strategic asset allocation and regulatory issues. His articles have regularly appeared in Financial Times, Wall Street Journal, Euromoney, The Banker, RISK, The Economist, several journals including Journal of Financial Markets Infrastructure, Journal of Investment Management etc. His work experience covers several countries including United Kingdom, United States, Chile, India, Japan and more recently peripheral Europe. Manmohan holds a Ph.d. in Economics and a MBA from University of Illinois (Urbana Champaign). He received his B.S. (magna cum laude) from Allegheny College, Pennsylvania. He was previously with ABN Amro Bank s emerging market syndicate team (Amsterdam/London). Banque de France Financial Stability Review No. 17 April 2013 5

Paul TUCKER Deputy Governor Bank of England Paul Tucker was appointed as Deputy Governor, Financial Stability in March 2009. He is a member of the Bank of England s Monetary Policy Committee, Financial Policy Committee and Court of Directors. He was appointed chair of the Committee for Payment and Settlement Systems in April 2012. He is a member of the G20 Financial Stability Board Steering Committee, and chairs the Financial Stability Board s group on resolving large and complex banks. From June 2002 until his current appointment, Paul Tucker was Executive Director for Markets. 6 Banque de France Financial Stability Review No. 17 April 2013