Markets Under Transformation:
Liquidity, Capital & the Future of Market Structure
WIFM Conference
July 7, 2026 | Bank of America, London
Agenda*
*Agenda subject to change
Time
Description
12:00 PM
Registration & Refreshments
12:30 PM
Welcome
- Fernando Vicario, Chief Executive Office of Merrill Lynch International and Country Executive for UK
- Tracey Vallarta Jordal, WIFM Board Member & Co-Head of Europe; Former Executive Vice President, PIMCO
12:40 PM
Macro, Capital & Liquidity
The global financial landscape is undergoing a fundamental shift. Higher interest rates, evolving regulatory frameworks, geopolitical uncertainty and changing market structures are reshaping how capital is allocated and how liquidity is managed across the financial system.
This panel will explore the outlook for growth, inflation, interest rates and market liquidity, while examining how banks, investors and policymakers are responding to an increasingly complex operating environment. Speakers will discuss the implications for balance sheet management, funding markets, capital efficiency and the broader functioning of financial markets.
Speakers:
- Nidhi Bansal, Global Head of Financial Resource Management and Distribution, HSBC
- Ella Gude, Head of Fixed Income, BNY Investments Newton
- Jessica Pulay, Chief Executive Officer, UK Debt Management Office (DMO)
Moderator:
- Snigdha Singh, Head of EMEA Markets Growth & Initiatives, BofA Securities
1:30 PM
Private Credit & Public–Private Convergence
Private credit has emerged as one of the fastest-growing segments of global capital markets, creating new opportunities for borrowers and investors while reshaping traditional financing models.
As capital increasingly flows between public and private markets, distinctions that once separated these ecosystems are becoming less clear. This discussion will examine how private capital is influencing market structure, the evolving role of banks, and the opportunities and risks associated with this transformation. Panelists will share perspectives on capital formation, portfolio construction, liquidity considerations and the future relationship between public and private markets.
Speakers:
- Deborah Cohen Malka, Partner and Portfolio Manager, AlbaCore Capital Group
- Kathy Sutherland, Partner & Chief Executive Officer, GoldenTree Asset Management
2:20 PM
Financial Markets, Economic Transformation and the UK Growth Agenda
Economic growth, competitiveness and capital formation remain central themes for policymakers and market participants alike. As governments seek to unlock investment and improve productivity, financial markets play a critical role in supporting innovation, infrastructure and economic development.
In this keynote session, Alison Griffiths MP will share perspectives drawn from both public policy and financial services, discussing the opportunities and challenges facing the UK economy and the role of financial markets in supporting sustainable long-term growth.
Keynote:
- Alison Griffiths, Member of Parliament, Vice Chair, Business & Trade Select Committee
2:45 PM
Networking Break & Refreshments
3:15 PM
Tokenisation & the Evolution of Market Structure
Tokenisation is increasingly moving from experimentation to implementation. From digital bonds and tokenised funds to new settlement mechanisms and programmable financial products, innovation is beginning to reshape the infrastructure underpinning capital markets.
This panel will explore how tokenisation is being deployed across the financial ecosystem, the challenges to broader adoption, and the implications for market efficiency, liquidity, transparency and risk management. Speakers will discuss practical use cases, regulatory developments and the future evolution of financial market infrastructure.
Speakers:
- Stéphanie Lheureux, Director and Head of the Digital Assets Excellence Center, Euroclear Group
- Serene Murphy, Managing Director, Global Head of Corporate Development, Tradeweb Markets
- Emma West, Managing Director, Global Head Futures & Options and OTC Clearing Services, FXPB and FIPB / Global Financing and Futures Platform, Bank of America
Moderator:
- David Cámara Iniesta, Managing Director, Senior Trading Strategist, Bank of America
4:05 PM
Prediction Markets & the Future of Information
Markets have always relied on information, expectations and collective judgement. Prediction markets offer a novel approach to aggregating information and forecasting future events, raising important questions about how decisions may be made in increasingly data-rich environments.
This fireside chat will explore whether prediction markets can become a meaningful complement to traditional forecasting methods, their potential applications across finance and public policy, and what their growth may signal about the future of market intelligence and decision-making.
Fireside Chat:
- Andy Ross, Head of Institutional Business, Kalshi
- Susi de Verdelon, Chief Executive Officer, LCH Ltd, LSEG
4:40 PM
Closing Remarks
- Karen Wares, Managing Director, Strategic Relationship Management, BofA Securities; WIFM President & Chief Executive Officer
4:45 PM
Networking Reception
7:00 PM
Event Ends
Our Speakers*
*Confirmed speakers only
Highlights from the 2025 WIFM Conference in New York
