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Meet the Executive - IPUG


John Ikel

Chairman of IPUG
Chair of Data Compliance and Audit SIG

BNP Paribas

Email: john.ikel@ipug.org
Email: chairman@ipug.org

John Ikel has been working in the investment banking sector since the start of 1998, where he started in IT support, before moving into market data analysis and project management in 2002. He assumed global responsibility for market data compliance shortly after as well as the management of market data audits within EMEA. Since that time he worked for several investment banks with global responsibility for both the global management of market data compliance as well as market data audits. He has also spoken on the subject at industry events such as COSSIOM. Married with three children, John is a qualified karate instructor and has been teaching locally since 2011. John joined the IPUG Exec in 2009 and has been the Vice-Chairman, Treasurer, Honorary Secretary, Events Manager, and Webmaster during that time. John became the IPUG Chairman in November 2016.

Deborah McAdams

Vice-Chairman of IPUG
Chair of the Indices and Benchmarks SIG


Email: deborah.mcadams@ipug.org

Deborah is a recognised market data professional within the financial services industry. She has directed and influenced the delivery of strategic business critical solutions in international organisations for both vendor and financial institutions for a number of years. She started her career as an industrial placement in Open Systems at Reuters before moving into a variety of roles in support, sales, marketing, sourcing and technical teams on the vendor side. These roles have included Global Datafeeds Product Manager and European Technical Analysis Marketing Manager. Deborah then switched to working for buy/sell side institutions and has held a variety of global roles in market data for programme management and business analysis as well as Global Head of Market Data at Barclays Capital. Currently she is at UBS working in Supply & Demand Management and was the IPUG Chairman from July 2011 to July 2014.

Zal Spencer

Chair of the Thomson Reuters "My Account" Working Group
Vice-Chair of Data Compliance and Audit SIG


Email: zal.spencer@ipug.org
Email: treasurer@ipug.org

Zal has been working within Market Data since 2008 at Nomura and HSBC. Prior to that, Zal held various roles in IT including bespoke consultancy, client training and IT Security. Zal's primary focus within the Market Data arena has been specialising on the use and control of Market Data within Applications. The scope of Zal's role in the HSBC Market Data Governance team includes setting and managing governance around the use of DACS, managing external vendor audits, the implementation of various application specific licences, and the implementation of Open DACS. Zal is currently developing a new concept to Market Data Application Management to improve efficiency and transparency to key stakeholders of the use and financial implications of Market Data within server applications. Zal is excited to have joined the IPUG Executive as of November 2016 and to be appointed Treasurer for 2017. Zal promises to share her passion for Market Data and knowledge by continuing to promote the good work achieved so far by the IPUG team.

David Berry

European Groups Liaison
Chair of the Cost Optimisation and Administration SIG


Email: david.berry@ipug.org

In December 2008, David joined UBS AG and is Director in Market Data & Commissions Global Sourcing. He was previously Head of Procurement & Cost Control at Royal Bank of Canada Capital Markets Europe from May to Nov 2008. From 2006 to 2008 he was Global Head of Market Data at Barclays Capital. From 2001 to 2006 he was Global Head of Market Data for Société Générale Corporate & Investment Banking. He first worked there as Head of Supplier Management for Market Data Services. From 1993 to 2001, David worked for Morgan Stanley, first in the Fixed Income, Commodities and FX department, where he held Sales and Trading posts around Europe. He later worked in their Market Data and Technology department in London. He is Executive Committee member at FISD, IPUG and COSSIOM. He is also FISD Co-Chair of the Consumer Constituent Group. David earned a Diplomkaufman in Berlin and a Diplome des Grandes Ecoles degree in Paris.
Married with three children, David is a keen rugby and ice-hockey player.

Graham Downie

Chair of the Ratings SIG

Standard Life Investments

Email: graham.downie@ipug.scot

Graham is based in Edinburgh and has worked at Standard Life Investments Limited for 10 years as their Manager of Global Information Services and Market Data. His areas of expertise include vendor management & negotiations, market data compliance and guidance, and advising on legal and commercial aspects of vendor licenses. Before 2001, Graham was Managing Director and Senior Consultant at Screen Consultants (Scotland) Limited for over two years. Prior to this, Graham worked for Bridge Information Systems as the Scottish and Irish Sales Manager. He started his career at Wood Mackenzie & Co. (Stockbrokers). Graham has been involved with IPUG for 10 years and was Chairman of the group from July 2009 to July 2011. In his spare time, he enjoys motorcycling and scuba diving.

Iman Szeto

Chair of the Scottish Regional SIG

Aberdeen Asset Management

Email: iman.szeto@ipug.scot

Iman has been working in the Securities Industry with Global Custodian Banks and Asset Managers, notably Northern Trust, HSBC and UBS Asset Management. He specialises in Reference and Market Data Change Management and had managed Operation and Technology teams at worldwide financial centres. During the period when he was working in London, he had regularly presented Data Management topics at financial conferences to drive industry wide change. Iman chaired IPUG from July 2005 to July 2006. He gained an MBA in Finance with CASS Business School and studied Physics with Computational Mathematics in Edinburgh. He enjoys badminton and quality time with his two children.

Dharmesh Darji

Chair of the Bloomberg SIG
Chair of the Buy-Side SIG

Hermes Investment Management

Email: dharmesh.darji@ipug.org

Dharmesh has over 15 years industry experience and specialises in delivering strategic market data business solutions. He has a consistent track record in delivering effective global strategy programs that achieve year on year reductions in market data spend. He started his career working in the public sector before moving to investment banking where he has led numerous technology and market data projects. He now manages global market data at Hermes Investment Management.

Ronald Vetter

Vice-Chair of Scottish Regional SIG

Standard Life Investments

Email: ronald.vetter@ipug.scot

Ronald is Manager, Market Data Management and Governance. He is responsible for the provision and governance of Market Data from industry providers utilised by the various business areas in Standard Life Investments. He started his career with BfG Bank in 1991 and has over 20 years of experience as a Market Data and Procurement professional, managing data, cost savings and governance projects and teams in Germany, Switzerland, USA and the UK for the past two decades for companies like UBS, Bloomberg L.P and DekaBank / Deka Investments. Ronald moved from Germany to Scotland in 2014 and joined Standard Life in the same year as an Operational Data Manager and worked in that role until July 2016. Ronald now works as a Manager, Market Data Management and Governance alongside Graham Downie. He is also responsible for the implementation of the Global Data Governance Framework and is the Data Governance Manager for the Investment and Market Data domain. He joined the Exec to assist with running the Scottish Regional SIG in November 2016.


How to join the IPUG Executive Committee

The Executive welcomes applications to join it from any member who believes that they can contribute expertise or skills in an area which will add value for general Membership.

Volunteers should recognise that acceptance on to the Executive Committee will entail:

  • A commitment of at least one and a half days of their time a month to dealing with IPUG issues. Your employing firm will need to recognise and support you in this.
  • A commitment to attend the monthly Executive meetings or conference calls (generally 2 hours in length)
  • Managing one of the vendor relationships and/or Special Interest Groups (SIGs) on behalf of the Membership
  • Other ad-hoc duties and tasks as assigned within an Executive meeting.