Intercontinental Exchange (NYSE:ICE), the leading global network of exchanges and clearing houses, today announced that ICE Benchmark Administration (IBA) has appointed Mary John Miller, the former Under Secretary for Domestic Finance at the U.S. Treasury, as a Director of IBA.
Miller will serve as Chairperson of IBA’s Nominating Committee, and joins the following directors on the Board of IBA:
- André Villeneuve, Chairman of ICE Benchmark Administration
- Joanna Perkins, Chairperson for the LIBOR Oversight Committee of ICE Benchmark Administration
- Michel Prada, Chairperson of the Audit and Risk Committee of ICE Benchmark Administration
- David Goone, Chief Strategy Officer of Intercontinental Exchange
- Finbarr Hutcheson, President of ICE Benchmark Administration
“I am delighted to welcome Mary Miller to the IBA Board. She brings with her a wealth of experience and expertise that will support the continued development of IBA and its work to increase confidence in benchmarks. She also brings a valuable U.S perspective to the Board,” said André Villeneuve, Chairman of IBA.
IBA is an independent subsidiary of ICE. It operates a robust oversight and governance framework including an independent board, with a majority of independent non-executive directors.
In July 2013, IBA was appointed as the administrator of LIBOR following a rigorous selection process sponsored by HM Treasury (UK) and Chaired by Baroness Hogg (Hogg Tendering Advisory Committee for LIBOR). IBA began administrating LIBOR in February 2014; and the administration of ISDAFIX began in August 2014. In addition, IBA was announced as the new administrator for the LBMA Gold Price in November 2014 and is expected to commence administration in the first quarter of 2015.
Background
Mary John Miller
Until September 2014, Mary John Miller served as the US Department of the Treasury's Under Secretary for Domestic Finance (March 2012 – September 2014) and was responsible for oversight of the government's fiscal operations and for developing and coordinating Treasury’s policies and guidance in the areas of financial institutions, federal debt financing, financial regulation, and capital markets.
Miller had previously served as Assistant Secretary of the Treasury for Financial Markets (February 2010 – March 2012), where she advised the Secretary on broad matters of domestic finance, financial markets, federal, state and local finance, and federal government lending policies. In this role, she was responsible for Treasury’s management of the public debt.
Prior to joining Treasury, Miller spent 26 years working for T. Rowe Price Group, Inc, where she was the director of the Fixed Income Division and a member of the firm’s Management Committee.
She received a BA from Cornell University and an MCRP from the University of North Carolina at Chapel Hill. Miller has also earned her Chartered Financial Analyst designation.