Board of Directors

Justin Aldridge is a senior vice president and head of Agency Lending for Fidelity Capital Markets (FCM). Our institutional clients are supported with investment insights, strategies, and solutions, as well as trading services available to a wide range of wealth management firms and institutional investors. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to institutions, financial intermediaries, and individuals.

In this role, Mr. Aldridge is responsible for the development and ongoing management and commercialization of the business line. Fidelity Agency Lending® was launched in 2019 to take its affiliated lending program and make it available to other asset managers, insurance companies, pension plans, and other institutions so they can leverage Fidelity’s market positioning and financing expertise.

Prior to assuming his current position, Mr. Aldridge served as the head of supply for the Global Securities Finance trading group within Fidelity’s Prime Brokerage unit. His responsibilities included creating the supply-side trading desk and managing the pricing and trading strategy for clients’ long and short activity. Mr. Aldridge was also responsible for a high-touch client service model, servicing some of the firm’s most sophisticated prime brokerage clients. He was instrumental in the development and distribution of PB Optimize, a cloud-based global securities finance and treasury optimization platform for asset managers.

Prior to joining Fidelity in 2005, Mr. Aldridge worked in the Securities Finance division of State Street in its Operations and U.S. equity trading groups. He has been in the financial industry since 2001.

Mr. Aldridge earned his Bachelor of Science degree in finance from Central Connecticut State University. He also holds the Financial Industry Regulatory Authority (FINRA) Series 7, 24, and 63 licenses and is the Vice Chair of the International Securities Lending Association (ISLA) America’s board and a Director on ISLA EMEA’s board.

Harpreet Bains is a Managing Director with global product responsibility for J.P. Morgan (JPM)’s Agency Securities Finance Business. As a market leading diversified global bank, Harpreet represents views as an agent lender, a prime broker, and a collateral manager.

With 23+ years of experience gained within JPM, spanning across securities lending, asset management, and risk functions, Harpreet understands product complexity, market impacts and regulations.

Harpreet was elected to the ISLA Board in 2019, active in Steering Groups and Working Groups, as well as providing an ongoing diversity, equity and inclusion focus into the Association.

Harpreet is a member of the Bank of England’s Securities Lending Committee, and co-lead for Women in Securities Finance London which Harpreet established in 2019.

Matthew Brunette is the Global Head of Financing for Norges Bank Investment Management (NBIM).

NBIM has the task of managing Norway’s natural resource wealth for both current and future generations. The fund is invested in around 9,000 companies across 70 countries. Securities lending is an important part of our investment strategy at NBIM and is also seen as a necessary component of well-functioning markets. As a long-term investor NBIM therefore have a vested interest in promoting industry initiatives that make the product and market more robust and sustainable.

Matthew has 20+ years of experience at NBIM, not just in securities finance, but also across equity trading and portfolio management. Matthew has a keen interest in the risk management aspects of securities lending, and in ensuring these are understood and anchored across any lending program and its stakeholders.

Ina Budh-Raja joined ISLA in December 2025 as Chief Executive Officer responsible for the development of ISLA’s growth strategy and overseeing its core activities to help build a more transparent, efficient, resilient and reputationally robust foundation for the market.

Prior to ISLA, Ina spent 7 years at BNY, across a number of roles including Global Head of Securities Finance Regulatory Strategy, Public Policy & Industry Affairs, where she was responsible for leading the business’ efforts to identify new opportunities in a changing regulatory environment. Prior to BNY, Ina held both commercial and legal roles across the industry over 20 years, including as managing counsel for securities finance at State Street and Deutsche Bank, covering the agency lending, principal lending, equity finance and money markets desks. Ina is a qualified lawyer with an active practicing certificate (Law Society of England & Wales) and is also a member of the Bank of England Money Markets and Securities Lending Committees and is Co-Chair of the Bank of England UK Money Markets Code Sub-Committee.

Ina was a Director on the ISLA Board from 2019-2022 and was subsequently appointed as Chair of the Board of ISLA from 2022-2025, during which time the organisation grew significantly, with Ina playing a considerable role in the establishment of ISLA’s affiliate, ISLA Americas. She also championed the launch of ISLA’s future talent initiative, ISLA Connects. As well as being ISLA’s first female Chair and CEO, Ina is co-lead of the London chapter of Women in Securities Finance.

As Managing Director and Head of the Cash and Collateral Trading & Management Division, Ueli is responsible for the liquidity management of the bank, the CHF short term interest rate products including securities lending and repo, as well as the overall collateral management.

Zürcher Kantonalbank have been active participants in the securities finance market for many years with a broad scope and have accumulated an in-depth understanding for the market.

Ueli holds a Swiss federal diploma in business administration, is a Certified International Investment Analyst, and has an executive MBA from the University of Zurich in general management. Ueli is also a lecturer on the topics of securities lending, repo, and collateral management at the Swiss training centre for investment professionals.

For more than two decades, Keren has been dedicated to capital markets: first, as a trader at a pioneering, algo-trading company; then as a regulator at a major stock exchange; and currently serving as Deputy CEO of Sharegain, a global capital markets fintech that aims to democratise securities lending.

Keren brings a proactive and steadfast commitment to champion the perspectives of the next generation of securities lending experts, innovators, and leaders.

Adnan Hussain, Global Head of the Agency Lending Program at HSBC, is a representative of the bank across agency and principal businesses within the Markets and Securities Services division.

Adnan has been an active member of the securities financing industry throughout his career and is passionate about seeing the function expand by way of new asset classes, countries, regions, and the product itself. Adnan joined HSBC in November 2019, within his current role, and has 20 years + of relevant experience.

Prior to joining HSBC, Adnan worked within BNP Paribas Securities Services, responsible for Market & Financing Services in the UK, along with being Head of Agency Securities Lending globally.

Prior to that, Adnan held senior roles with RBC and CIBC Mellon in Toronto. He holds a Master of Laws (LLM) from the University of Toronto and is also a Certified Public Accountant (CPA) from Canada.

At BlackRock, Stefan Kaiser is responsible for business strategy and regulatory engagement of the securities lending business, as well as the servicing of securities lending clients in both EMEA and APAC. This includes all securities lending client relationships across retail, ETF and institutional client channels.

Stefan’s service with the firm dates back to 2005, including the years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Prior to joining BGI, Stefan worked for Commerzbank in a variety of positions, including Mergers & Acquisitions, Corporate Banking, Investor Relations and Asset Management in London, Shanghai, Frankfurt and Singapore. Stefan earned a BA degree in finance and an MSc in business management and economics.

Stefan has served on the ISLA Board in the previous term and contributed to many of the initiatives around sustainability and regulatory proposals that impact end-investors.

Mathew McDermott is Global Head of Digital Assets at Goldman Sachs International.

Mathew serves as a member of the Goldman Sachs International Asset and Liability Committee and the Goldman Sachs International Bank Management Committee. Previously, Mathew was global head of Cross Asset Financing. He joined the firm as a Vice President in 2005 in the European Special Situations Group in London and was named Managing Director in 2010.

Prior to joining the firm, Mathew worked at Morgan Stanley in the Securitized Products Group, focusing on structuring, financing, and risk management.

Mathew earned a BA (Hons) in Accounting and Finance at Nottingham. He has been a member of the Chartered Institute of Management Accountants since 1999.

Mathew has been at Goldman Sachs for 17+ years and has run several businesses where securities finance has been at the heart of those, including his current role as Global Head of Digital Assets, where a key strategic focus is on digitising the securities finance markets.

Adam Slark is Global Head of Investment Management Derivatives Operations at Fidelity International.

As a part of this role, Adam manages the firm’s securities lending programme and securities financing activities. With 20+ years’ experience of financial markets and the asset management industry, Adam has led teams and projects within the buy-side front office environment with the majority of that time focused on the derivatives and securities financing markets.

Having been Fidelity’s member representative at ISLA for a number of years, Adam is a key contributor to working groups that focus on regulatory change impacting the securities lending markets, especially in relation to the asset management sector and regulated mutual funds.

Geraldine Trippner is Head of Financing Solutions for Global Market Sales at Société Générale.

After 20+ years as a repo and cash trader, mostly focused on European government bonds, in 2013, Geraldine spent a one-year studying public policy to better understand our regulatory environment and its drivers. Upon retiring from trading, she became a financial engineer, responsible for fixed income and currencies (FIC) financing, pivoting to the new environment and the associated challenges. Geraldine aimed to reconcile internal constraints with clients’ needs and specificities, explaining why and how regulation will force the market to evolve. Geraldine subsequently moved to a sales role, covering both FIC and equity derivatives, to head global market sales for financing.

Geraldine is a member of the Global Market Sales Exco and is also responsible for optimizing the leverage ratio regarding commercial activities.

Mark joined Invesco in 2019 to manage the firm’s securities lending capabilities. He currently sits on Invesco’s Securities Lending Governance Committee and is responsible for the platform’s oversight. Prior to Invesco, Mark co-headed Goldman Sachs’ agency lending business, GSAL. He joined Goldman in 1999, and later relocated to London where he helped establish GSAL’s international presence across the EMEA and Asia-Pac regions.

Mark currently serves as Chair of the ISLA Americas Board, the securities finance market’s industry association. He previously served as Chair of the Risk Management Association’s (RMA) Executive Council on Securities Lending.