Manish Mehta is a member of BlackRock’s Global Executive Committee. He is a Managing Director and co-chairs its Talent Sub Committee, as well as the firm’s Human Capital Committee. Prior to that Mehta was the Global Head of Markets & Investments for ETF and Index Investments, and previously the Chief Operating Officer for iShares. Mr. Mehta joined BlackRock in 2009 as part of its acquisition of Barclays Global Investors (BGI). Earlier in his career, Mehta was with the Boston Consulting Group He began his career with Accenture where he managed the design and implementation of enterprise technology solutions for clients in the pharmaceutical and insurance industries. Mehta has an MBA from the Wharton School at the University of Pennsylvania, and a B.S. in Electrical Engineering and Computer Sciences from the University of California, Berkeley.
Derek Stein is a member of BlackRock’s Global Executive Committee. He is a Senior Managing Director and is Global Head of Technology & Operations. Stein’s service with the firm dates back to 2005, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Before joining BGI, Stein was an executive vice president at Knight Capital. Prior to that, Stein spent 10 years with Merrill Lynch & Co. Earlier, he spent several years as a senior manager with Ernst and Young’s capital markets and banking management consulting practice. Before moving to the U.S. from South Africa, Stein managed a long/short equity fund and was a practicing Chartered Accountant. Stein earned a BA degree in computer science and an MS degree in finance, both from the University of Witwatersrand in South Africa.
They own the regulators; they own the brokerage houses; they own the clearing houses; they own all of your investments; and it’s even been shown that they can exert complete control over the government.
To understand how these banks exert complete control over our financial system, one must first understand the securities clearance system.
In the United States of America, there is only one central clearinghouse: The Depository Trust and Clearing Corporation, and for almost 50 years they have maintained a virtual monopoly over this essential service.
It is a private corporation that is owned by these mega-banks and brokers.
PDF (470 Pages): Our Financial Oligarchy Back-Up
Dr. Navneet Arora Is head of Quantitive Strategies at Citadel. Prior to joining Citadel, served as Director of Quantitative Research at American Century Investments. Previously, he served as Managing Director and Global Head of Model-Based Credit Research at BlackRock and as Global Head of Credit Research at Barclays Global Investors. Dr. Arora’s publishes in academic and practitioner journals, including Journal of Financial Economics, Review of Accounting Studies, Journal of Investment Management, and Energy Risk. Dr. Arora received a Ph.D. in finance from University of North Carolina-Chapel Hill, a post-graduate degree from Indian Institute of Management.
Pascal Bandelier is the Senior Managing Director, Head of Equities. He joined the Cantor Fitzgerald based in New York. Bandelier was the Head of Equity Execution Trading at Barclays, where he was responsible for the trading, sales trading, desk analyst and low-touch electronic businesses during his tenure at Barclays since 2013. Prior to Barclays, Bandelier was Head of TMT Cash Equity Trading, at Morgan Stanley, and Head of Cash Equity Trading & Risk at Nomura. From 2001 to 2010, Mr. Bandelier worked at Barclays/Lehman Brothers. Bandelier graduated from Northwestern University with a Bachelor’s degree in economics.
Profit & Loss, 7 January 2015
JP Morgan has agreed a settlement, believed to be worth $100 million, in an antitrust litigation lawsuit brought against 12 major banks for alleged manipulation of the FX market.
The bank submitted a letter to judge Lorna Scholfield of the Court of the Southern District of New York, stating that it had reached a settlement agreement with the plaintiffs in this litigation and that is planning to file a copy of the settlement terms with the court for approval by the end of January.
Mark DeCambre, Jason Karaian
Quartz, 5 February 2014
These days, it doesn’t take much digging to find potentially scandalous behavior coursing through the world’s biggest banks. But the latest round of probes into currency trading are shaping up to be a real doozy.
Already more than 20 traders, which make money for their firms by betting on currencies’ shifting values, have left or been placed on leave by their employers. These banks and traders have not been accused of wrongdoing, but their departures send a message that something is amiss in currency trading.
The New York Times, 12 August 2008
A rule that made it harder to short some financial stocks and that may have helped raise prices and reduce the volume of shorting in those stocks expired Tuesday, as the Securities and Exchange Commission considers whether to tighten the rules on all short selling.
It may be a coincidence, but the announcement of the rule on July 15 coincided with the bottom of the bear market for financial stocks, which leaped that day and are now well above where they were. And the final day proved to be a very bad day for those shares.
Hound-Dogs, 1 March 2004
This is a story about a massive money-laundering operation run by the world’s biggest banks. It hides behind the “eyes-glazing over” technicalities of the international financial system. But it could be one of the biggest illicit money-moving operations anyone has ever seen. And it’s allowed to exist by the financial regulators who answer to Western governments.
In these days of global markets, individuals and companies may be buying stocks, bonds or derivatives from a seller who is Clearstreamhalfway across the world. Clearstream, based in Luxembourg, is one of two international clearinghouses that keep track of the “paperwork” for the transactions.