The International Swaps and Derivatives Association (ISDA) announced that its board of directors elected three new members.

For the first time in the history of ISDA, investors or non-dealer firm members will serve on the ISDA Board.
The three new directors are: Pierre-Emmanuel Juillard, head of structured finance division, AXA Investment Managers; Ted MacDonald, managing director and treasurer, the D. E. Shaw group; and Bill Powers,managing director and member, PIMCO’s investment committee.

Juillard joined AXA in March 1999 as the head of structured credit and securitization and founded the firm's structured finance division (SFD). As the head of SFD, he also sits on the AXA's executive committee.

Before joining the D. E. Shaw group in 2003, MacDonald worked at Citadel Investment Group where he was most recently a director in that firm’s portfolio finance group.

Powers works at PIMCO’s Newport Beach office. Before joining PIMCO in 1991, he was with Salomon Brothers and before that, he was senior managing director specializing in MBS at Bear Stearns

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