Brendan Kalb of AQR Capital Management LLC is running for the NFA Board of Directors again. Last time he was matched up against rogue incumbent Douglas Bry. This time his opponent is another rogue incumbent CTA/CPO board member John Roe.
Last spring the NFA Board of Directors created a new CTA/CPO position and appointed Adam Cooper of Citadel to the spot. Cooper had been a candidate last year running against Ernest Jaffarian. This time around, Cooper has no opposition as a CTA/CPO in the top 5% of assets under management.
Kalb, who represents the largest CPO in the industry was slated against Roe rather than Cooper.
However, Kalb is an eminently qualified candidate with lots of bona fides for the role. He has been working with the NFA starting five years ago on a working group. He was appointed to the CTA/CPO Advisory Committee of the NFA last May. He has been at AQR for 11 years and a lawyer for 15.
He is a member of the Managed Funds Association’s Investment Adviser and Government Affairs Committees, and currently acts as Vice Chairman of the MFA’s CTA, CPO and Futures Committee. Kalb is also currently serving as a member of the CFTC’s Agricultural Advisory Committee.
Before coming to AQR in 2004, he worked at the New York law firm of Willkie Farr & Gallagher LLP as an Associate in their Investment Management Group where he regularly represented registered investment companies, investment advisers and broker-dealers. He also worked for the law firm of Seward & Kissel LLP as an Associate in the firm’s Financial Services & Investment Management Department.
His platform for running for the NFA is one centered on restoring and promoting customer confidence in the markets. He is a proponent of the residual interest rule, 1.22, that the CFTC has passed. He said he believes this will put an additional regimen of compliance and accountability on futures commission merchants and will improve FCM disclosure and customer protections.
In his position paper he says his mission will be: “to restore and preserve confidence in a rapidly changing futures market by ensuring that NFA fulfills its obligations as a regulatory body, acting swiftly via effective and intelligent self-regulation.”
He asks for your vote.