User:Rcr203/sandbox

ISITC (N.A.) ISITC (North America) is a non-profit global industry trade group based in North America representing securities firms, banks, and asset management companies.

History
ISITC was founded in 1989 by a group of leaders whose vision was to create global best practices for commonly used industry standards. It was formally established in 1991 following the adoption of SWIFT message formats. ISITC was previously an acronym for International Securities Association for Institutional Trade Communication but was later changed to ISITC alone to indicate the wider remit beyond trade communication. ISITC Europe, a separate organization, was founded a few months later in 1992 by London-based colleagues. The membership base of ISITC North America and its sister organization, ISITC Europe, are harmonized and share common themes and best practices to achieve focused objectives. The organizations remain distinct but have collaborated through the years on relevant best practices and education. ISITC and the International Operations Association (IOA) joined together in 1997.

Past chairs include:

 * 2017 – 2018 – Erica Borghi, Brown Brothers Harriman
 * 2014 – 2016 – Jeff Zoller, T. Rowe Price Associates, Inc.
 * 2012 – 2013 – Jan Snitzer, Loomis, Sayles, & Company, L.P.
 * 2010 – 2011 – Gary Probert, Citibank, N.A.
 * 2008 – 2009 – Genevy Dimitrion, State Street Corporation
 * 2006 – 2007 – Steve Goswell, Barclays Global Investor
 * 2005 – Stephen J. Lachaga, JP Morgan
 * 2003 – 2004 – Kevin Smith, Bank of New York
 * 2002 – Steve Kelly, Goldman Sachs & Company
 * 2000 – 2001 Arthur Barton, Clay Finlay
 * 1999 – Mark Del Col, Bankers Trust
 * 1998 – Mark Del Col, Bankers Trust & Arthur Barton, Clay Finlay
 * 1997 – Larry Rinne, Northern Trust Company
 * 1996 – Larry Rinne, Northern Trust Company & Roz Kracov, State Street Corporation
 * 1995 – Roz Kracov, State Street Corporation
 * 1994 – Nancy Barlet, RCN
 * 1993 – Lynn Zeller, PIMCO

Mission, members, and officers
ISITC is a member-run, not-for-profit trade association that represents securities brokerage firms, investment banking institutions, as well as custodians, broker dealers and the vendors and utilities that serve the investment management community. The mission of ISITC is to engage the collective expertise of its global community of securities operations and technology professionals to create a platform to collaborate on key initiatives in financial services operations. Through the work of its members, ISITC develops, publish, and promotes market practices and thought leadership with a mission to move the financial services industry forward, reducing capital markets risk and increasing operational efficiency.

ISITC hosts several virtual and in-person events annually for members and industry professionals, including three widely-attended major conferences – the Securities Operations Summit, Fall Forum and Winter Forum.

ISITC currently has 53 firm members and over 1,500 individuals who are employees of those firms.

Board of Directors
ISITC is governed by the Board of Directors, which meets on a monthly basis. The Board is comprised of 12-20 individuals from General Member firms, representing each of ISITC’s constituencies: Broker/Dealer, Custodian Bank, Investment Manager, and Vendor/Utility. Each Board member is permitted to serve up to three terms of three years each, each with a three-year tenure.

Officers and Committee
There are six Board officer positions: •	Chair – The President and CEO of ISITC and presides at all Board Meetings •	Vice Chair – Second to Chair •	Second Vice Chair - Supports the Vice Chair •	Treasurer – Chairs the Finance/Audit Committee •	Secretary – Records Board meeting minutes •	Immediate Past Chair – Chairs the Nominating Committee The Association has four standing committees: •	Finance/Audit Committee – Responsible for the budget and oversight of the annual audit •	Membership and Marketing Committee – Responsible for marketing the ISITC brand and oversight of member firm relations and new firm recruitment and onboarding •	Nominating Committee – Responsible for the Board election process •	Website Committee – Responsible for website content and maintenance

Lisa Iagatta of Tegra118 is the current Chair of ISITC. Other members of ISITC’s senior membership include Kristin Swenton Hochstein of Refinitiv (Vice Chair), Rich Robinson of Bloomberg, LP (Second Vice Chair), Charles Mottinger of State Street Global Advisors (Treasurer), Ana Lotharius of the Depository Trust & Clearing Corporation (DTCC) (Secretary), and Erica Borghi of Brown Brothers Harriman. (Immediate Past Chair).

In 2020, ISITC hired its first executive director, Mary Ann Emely.