Dr. Dagmar Kamber Borens is an Executive Vice President and Head of State Street Markets EMEA, a member of the Executive Management Board of State Street Bank International GmbH, and Country Head for State Street Switzerland.

She joined State Street Bank International GmbH, Zurich Branch in 2021 as Country Head for Switzerland. Since July 2026, she has expanded her role to lead the EMEA business for State Street Markets in addition to Continental Europe, which she has been leading since May 2024. From January 2023 to April 2024, she assumed additional responsibility for the Depository Bank business in Germany, as well as overall management of the Investor Services business for the Netherlands, Austria, and the Nordics.

Prior to joining us, Dagmar spent more than 17 years at UBS AG, where she held senior leadership roles in Zurich, London, and Singapore, including Group Chief Financial Officer for Asia Pacific. She was also the Chief Operating Officer and member of the Executive Committee of the Swiss Universal Bank at Credit Suisse AG.

Dagmar is a qualified lawyer and holds a doctorate (Doctor iuris) in competition law from the University of Basel, Switzerland, where she also earned her master’s degree.

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.

Based in London, James joined Clearstream in 2014 and is currently Global Head of Business Development & Distribution across Collateral Management, Securities Lending & Liquidity Solutions. He is responsible for the monitoring of related market developments and trends, strategic initiatives and the expansion of Clearstream’s CLLS client franchise. James has previously worked for the Royal Bank of Scotland in Collateral Management and Rates Sales. In his early career, he worked for Citigroup’s Prime Brokerage. He holds a BA (hon) in History from the University of the West of England, Bristol, as well as various project management and finance qualifications (CFA institute & CISI).

Adrian joined ISLA in January 2019 as Head of Market Structure, Digital & RegTech. In this role, he manages the associations work on regulation, technology, and market practices of the EMEA Securities Lending markets.

Adrian has over 30 years of experience in financial services including diverse roles in product development, business analysis, IT development, trading, and operations at BNP Paribas, Barclays and BNY. Prior to joining ISLA Adrian was head of product development for SFTR at IHS Market.

Alexander Gurski is Senior Trader and Team Head Securities Finance at DWS Investment. He has worked in securities finance since 2000, beginning his career at Deutsche Bank AG before joining DWS Investment GmbH as a Securities Finance Trader in 2006.

Tony joined ISLA in September 2023 as a Regulatory & Markets Consultant, and in April 2024 Tony accepted a permanent position at ISLA as Director of Market Practice.

Based in London, and working closely with a cross-section of industry stakeholders, Tony is focused on supporting the continuous alignment and further development of ISLA Best Practices. This considers, amongst other things, aspects such as legal frameworks and constructs, digital and technology, market operating models, peer associations’ standards, as well as regulatory impacts (including T+1).

Tony brings with him over 30 years of financial markets experience working in senior operational roles across the buy and sell side. Prior to joining ISLA, Tony was most recently the SFTR SME at MUFG Securities EMEA Plc.

An industry professional with 7+ years’ experience in the financial data space, I specialise in securities finance, supporting the full securities lending value chain from beneficial owners to the buyside. As a Senior Product Specialist, I help clients leverage data and analytics through benchmarking and optimisation, bringing deep product expertise and a strong focus on client engagement.
I have also presented at ISLA briefings in Frankfurt and Zurich, sharing data-driven insights on securities lending and wider market developments.

Alongside my core role, I actively support diversity in the industry as a member of the ISLA DEI Committee and previously served for three years as Vice Chair of S&P Global’s Empower employee resource group.

Juergen Lemmen is Group Head of Middle Office at Universal Investment and has been with the company since 2015. He is responsible for Securities & Collateral Management, Derivatives and FX Operations, regulatory reporting, trade support, and client service delivery.

Juergen has more than 25 years of experience in banking, asset servicing, and capital markets operations. Before joining Universal Investment, he held senior management positions at Sal. Oppenheim and Deutsche WertpapierService Bank (dwpbank), where he was responsible for custody, securities processing, regulatory implementation, and transformation projects. He has extensive expertise in post-trade services, risk management, and operational excellence and has been actively involved in industry working groups and regulatory initiatives throughout his career.

Farrah joined ISLA in September 2019 and in January 2026 became Head of Advocacy, Public Policy & Regulatory Strategy.

Farrah provides invaluable support to this strategically important part of the Association’s focus, by working with the various workstream coordinators to monitor and assess EMEA financial regulations, including Tax, that have potential to impact the securities lending market.

Farrah reviews regulatory implementation, consultations and manages industry working groups, whilst monitoring updates from policy makers & National Competent Authorities to maintain best practice documentation.

Michael leads the State Street Markets Macro Strategy team, blending 30-years of strategy expertise with academic rigor and alternative data.
His innovative approach analyzes investor behavior, media narratives, and online inflation, earning top ranks in industry surveys and accolades for his contributions to the Journal of Fixed Income and the Journal of Investment Management.
Along with his co-authors his recent research on inflation determinants won the Harry M. Markowitz award for best paper in 2023.
Beyond academia, Michael has shared his insights on money printing and funding climate change in two TED talks, attracting over two million views; demonstrating his ability to communicate complex economic concepts in an accessible and engaging manner.

A Cambridge economics graduate, he is a fixture in the financial media and at industry conferences. Originally from Newcastle, Michael lives in in London with his wife Veronica and children, Charlie and Pia.

Mike Rinker is Functional Legal Head of Trading in the legal department of Union Investment.

He joined the Union Investment in 2008 and covers all legal issues related to trading. As member of Union Investments Blockchain Control Committee, he also provides input in all DLT related matters. Since 2013, he provides advise to ESMA as CWG member. Mike doctorated in Giessen on a matter of exchange law and is author and co-author of legal books, essays, and a legal commentary on the German Capital Investment Code (KAGB) regarding the areas of securities lending, securities, and eligible assets. He is active member in legal and trading related working groups in England, Germany and Belgium.

Andrew Scrivener is an Executive Director at Morgan Stanley Europe SE, and has been based in Frankfurt for his entire career.
As part of the Fixed Income Interest Rates Sales team, Andrew focusses on Termed Secured Funding of both Equity and FI assets as well as HQLA1 repo in the DACH region.
Andrew has worked in the Securities Financing industry for over 25 years, initially focussing on Equity Securities Lending with both Morgan Stanley and Deutsche Bank before returning to Morgan Stanley in the BRM and later the FI departments.

Travis Whitmore is Managing Director and Head of AI & Trading Analytics at State Street Associates (SSA), the research partnership between State Street Markets® and leading academics at Harvard, MIT, Boston College, and EDHEC. He leads SSA’s development of analytics and systematic models for State Street’s Market’s trading businesses, including FX and Financing Solutions, as well as leading the development of a cross-Markets AI platform.
Previously, Travis spent three years in Frankfurt leading SSA’s European research initiative, delivering bespoke advisory work and quantitative insights to institutional investors across the region. Earlier in his career, he worked with Harvard Professor Ken Froot on investment applications using State Street’s proprietary custody flows and holdings data, and co‑authored research on leveraging digital media to quantify evolving market narratives and manage portfolio risk.
Travis has published in the Journal of Portfolio Management, frequently speaks at research conferences, and was named a “Rising Star Under 30” by Securities Finance Times in 2023 for his research on the securities lending market.