11 April 2016
With the appointment, Clifford Chance continues to represent law firm perspectives on the Advisory Council.
As of April 2016 the Covered Bond Label has been granted to 91 cover pools belonging to 77 issuers across 14 jurisdictions in Europe and Asia, resulting in a transparent legislative, qualitative and quantitative database, which significantly facilitates investors’ due diligence in the covered bond market and the exchange of market best practice.
The Label Advisory Council is the Covered Bond Label Foundation’s think-tank. As such, it has an advisory role vis-à-vis the Label Committee and is responsible for supporting the development of the Covered Bond Label in the market and promoting the macro-prudential role of the covered bond asset class. The Council realises its objectives by providing opinions/advice on consultations, offering a forum for discussion amongst covered bond stakeholders and making proposals for the further development and strengthening of the Label.
Further to Mr Siddiqui’s appointment, the Label Advisory Council’s full membership is currently as follows:
Market Representatives (Based on a rotation principle):
Andreas Denger, Senior Portfolio Manager at Meag Munich Ergo Asset Management GmbH
Hélène Heberlein, Managing Director, Covered Bonds, Fitch Ratings
Ana Manuela Marques, GOH Portugal
Amer Siddiqui, Senior Associate, Capital Markets, Clifford Chance
Loïc Chiquier, Chief Technical Officer and Senior Advisor of the Finance & Markets Global Practice, World Bank Group
Hugh Friel, Manager – Local Currency and Capital Market Development Team, European Bank for Reconstruction and Development (EBRD)
Lars Overby, Head of Unit – Regulation, European Banking Authority (EBA)
Ad Visser, Head of the Financial Markets and Collateral Section in the ECB’s Market Operations Analysis Division, European Central Bank (ECB)
National Authority Representatives:
François Haas, Deputy General Manager, DG Operations, Banque de France
Concha Jiménez, Director of Operations Department, Banco de España
Michal Klestinec, Senior Portfolio Manager, National Bank of Slovakia
Wojciech Zielonka, Senior Vice President, Canada Mortgage and Housing Corporation (CMHC)
In commenting on the appointment, Luca Bertalot, Covered Bond Label Foundation (CBLF) Administrator, stated:
“We are pleased that Clifford Chance has re-affirmed its commitment to the work of the Covered Bond Label Foundation’s Advisory Council by appointing Mr Siddiqui as their Market Representative. We are confident that this cooperation will make a significant contribution to the continued expansion and enhancement of the Covered Bond Label initiative.”
The press release is available on the Covered Bond Label website here.