FIA Announces Leadership Succession

by Futures Industry Association 10 Jan 17:15

Washington, D.C.—Jan 10, 2012—The Futures Industry Association announced today that
its board of directors has appointed Walter Lukken as president and chief executive officer.
Lukken brings to the FIA many years of experience in government as well as expertise in
the mechanics of clearing, a critically important issue for the FIA and its members. He
succeeds John Damgard, who has been the head of the association since 1982.

“We are delighted to announce this appointment. Walt is a tremendously talented individual
with extraordinary experience and industry knowledge, and we are very fortunate to have
someone of his caliber to lead the FIA at this important moment in its history,” said Michael
Dawley, chairman of the FIA and co-head of futures and derivatives clearing services at
Goldman, Sachs & Co.

The appointment concluded a selection process that began in March 2011, when Damgard
announced his plans to retire. Lukken will take up the new position in time for the next
annual meeting of the FIA board of directors scheduled for March 12. Damgard will remain
with the organization as a senior advisor.

During his career in Washington and New York, Lukken held a wide range of senior roles
dealing with legislative, regulatory and industry matters. He served as counsel to the
Senate Agriculture Committee, working under then-chairman Senator Richard Lugar (R-
Ind.) on all legislative matters related to the oversight of the futures markets. In 2002 he
was nominated by President George Bush to serve as a Commissioner of the Commodity
Futures Trading Commission. During his time at the CFTC, he chaired the agency’s global
markets advisory committee, and for 18 months during 2007 and 2008 he served as the
agency’s acting chairman. Currently he is the chief executive officer of New York Portfolio
Clearing, a derivatives clearinghouse jointly owned by NYSE Euronext and the Depository
Trust and Clearing Corporation.

“I am thankful to the FIA for this opportunity and thrilled by the challenge of leading the FIA
during this critical time for the industry,” said Lukken. “John Damgard has provided
tremendous leadership for nearly thirty years to these markets, and I hope to continue to
offer a steady hand and confront the challenges that lie ahead. I am very grateful to both
NYSE Euronext and DTCC for the opportunity to lead NYPC through its regulatory approval
and successful launch. I return to Washington, D.C. knowing that NYPC is both well-
managed and well-positioned to provide a robust and competitive clearing service to the
industry.”

Damgard has served as the association’s president since 1982. Under his leadership, the
association has grown to more than 270 members from nearly 30 countries. He is widely
recognized as a premier spokesman on all issues related to the futures, options and over-
the-counter cleared derivatives markets.

“John has been the face of this industry over the last three decades," said Dawley. "He has
played a central role in its growth and evolution. He has made the FIA the go-to
organization for the listed derivatives business, and he has spearheaded the association’s
success in attracting a truly global list of members. We wish him the best and look forward
to his continued guidance as an adviser to the FIA.”

“Leading this association has been an honor and a privilege, and I look forward to handing
over the reins to Walt at the next annual meeting,” said Damgard. “I can’t think of anyone
better qualified to lead the association at this time. His regulatory and legislative experience
and leadership skills will be a tremendous asset as this industry engages in the far-reaching
structural reforms mandated by Dodd-Frank and similar laws around the world.”

About the FIA
The FIA is the primary industry association for centrally cleared futures and swaps. Its
membership includes the world’s largest derivatives clearing firms as well as exchanges and
clearinghouses from more than 20 countries. The FIA seeks to promote best practices and
standardization in the cleared derivatives markets, provide policymakers with an informed
perspective on the derivatives markets, and advocate for the interests of its members, its
markets and its customers. The FIA strives to protect open and competitive markets,
protect the public interest through adherence to high standards of professional conduct and
financial integrity, and promote public trust and confidence in the cleared markets.