Contact the IFM

The Institute for Financial Markets is a section 501(c)(3) nonprofit, industry-sponsored educational foundation.

The Institute for Financial Markets
2001 Pennsylvania Avenue NW | Suite 600
Washington DC 20006
Tel: 202.223.1528
Fax: 202.296.3184

For a faculty roster click here.

IFM Board of Trustees


Michael C. Dawley
Managing Director, Global Co-Head of Futures and Derivatives Clearing Services, Goldman, Sachs & Co.
Dawley is Managing Director and the futures product leader with Goldman, Sachs & Co. In 1985, he joined Goldman Sachs in Chicago and moved to New York in 1996. Prior to joining Goldman Sachs, he worked for E.F. Hutton and traded independently for several years.

Dawley is a trustee for The Clearing Corporation Charitable Foundation. Michael is a member of the Chicago Mercantile Exchange's Clearing House Risk Committee (CHRC), the Commodity Futures Trading Commission's Global Markets Advisory Committee (GMAC) and serves as vice chairman of the National Futures Association (NFA), a self-regulatory organization. Dawley is also a member of the FCM Advisory Committee of the London. Clearing House, the InterContinental Exchange and the CME Group. He also served as chairman of the Board of Directors of the Futures Industry Association in Washington, DC, and was inducted into the Futures Hall of Fame in 2005.

Dawley joined the IFM board in 2009 and was named Chairman in March 2014.

Gary DeWaal
Special Counsel, Katten Muchin Rosenman LLP

Gary DeWaal is an attorney with Katten Muchin's financial services practice in New York. He is an industry veteran who has more than 30 years of experience working on legal and regulatory matters. De Waal served for many years as a Senior Managing Director and Group General Counsel of Newedge, as well as a member of its global Executive Committee, where he oversaw the Group's worldwide Legal, Compliance, Financial Crimes Prevention (including AML), and Regulatory Developments departments. In June 2010, he was selected as one of the top five general counsels in the world (in a competition among 3,000 individuals) by the International Law Office in association with the Association of Corporate Counsel.

Earlier in his career he worked for the U.S. Commodity Futures Trading Commission's Division of Enforcement, and at Mudge Rose Guthrie & Alexander, a Wall Street corporate law firm whose principal partner was once Richard Nixon. DeWaal graduated in 1980 with JD and MBA degrees from the SUNY Buffalo. He also earned a BA degree in English and economics from the State University of New York at Stony Brook. DeWaal has served as an Institute Trustee since 2013.

Daniel A. Driscoll
Executive Vice President and Chief Compliance Officer, National Futures Association

Driscoll is executive vice-president and chief operating officer of National Futures Association (NFA), the industry wide, self-regulatory organization for the U.S. futures industry for more than 3,900 firms and 54,000 associates. He joined NFA as vice president of Compliance in 1982 and in 2000, was named executive vice president and chief compliance officer. He assumed the role of chief operating officer in 2003.

Prior to NFA, Driscoll served in a number of capacities at the Commodity Futures Trading Commission, and ultimately in the role of deputy director in the Commission's Division of Trading and Markets. He also serves on the faculty of professors of the Regulatory Compliance Association. Driscoll has served as an Institute Trustee since 1989.

Members of the Board

Peter F. Borish
Chief Strategist, Quad Capital
Peter Borish is chief strategist of Quad Capital and its affiliated companies where he is highly engaged in recruiting new talent for Quad and working with the founding partners on business strategy. In addition, he is instrumental in helping traders develop a methodology to enhance their performance by serving as a trading coach.

Borish is a seasoned Wall Street veteran and was a founding partner of Tudor Investment Corporation, where he was Director of Research for 10 years. Identifying opportunities that enhance financial market efficiencies has driven Mr. Borish in many other endeavors. This includes Quadriserv, Inc., a technology driven securities lending platform, which emphasizes price transparency and process efficiency. He also served as CEO of Twinfields Capital Management, a global macro hedge fund focused on the fixed income sector; and was Chairman of the Board of Directors of OneChicago, LLC.

As a philanthropist, Borish is a founding member, with Paul Jones and Glenn Dubin, an on the Board of Directors of the Robin Hood Foundation - which is focused on finding, funding, and creating programs and schools that generate meaningful results for families in New York's poorest neighborhoods. He is a founding board member of Math for America, a nonprofit led by Jim Simons to improve mathematical education in U.S. public schools. He also is a founding investor and serves on the Board of Directors of CharityBuzz.

Borish served as a Board Member of the Futures Industry Association (FIA); as a Special Advisor to the Board of Directors of the Chicago Board of Trade; and as a staff member of the Presidential Task Force on Market Mechanisms (Brady Commission) to study the stock market decline of October 1987.

Borish has been an IFM Trustee since 1991. He served Chairman of the Board of Trustees from March 1992 to March 1988, and again from March 2004 to March 2014.

John M. Damgard
Damgard served as president of the Futures Industry Association (FIA) from 1982 to March 2012. He has guided the association and the industry through stock market crashes, the Barings crisis and the terrorist attacks of September 2001. He has championed competitive markets, cross-border trading and fought to protect the industry from costly new taxes and unnecessary regulations. He is also founder of the Institute for Financial Markets.

Prior to joining the FIA, Damgard directed the Washington office of ACLI International. Before that he served as deputy assistant and acting assistant secretary of agriculture and was responsible for the major marketing and regulatory functions at the US Department of Agriculture (USDA). During his stint at the USDA, he was responsible for obtaining exclusive federal jurisdiction over the futures markets. Damgard served on the White House staff as assistant to Vice President Spiro Agnew. Damgard has served as an Institute Trustee since 1989.

Arthur W. Hahn
Partner, Katten Muchin Rosenman LLP
Hahn is a partner with Katten Muchin Rosenman LLP and a member of the firm's Executive Committee and Chairman of its National Financial Services Practice. He has a multi-disciplined practice, representing major international banks and brokerage firms in connection with their cash and derivatives products, including interfacing with exchanges, regulatory compliance, principal trading and sales practices issues, litigation and enforcement matters. Hahn also represents international equity and commodity exchanges and clearing houses in connection with their business structuring, trading rules, technology initiatives, cross-border SEC and CFTC licenses and international insolvency issues.

Hahn currently serves as vice-chair of the Financial Products and Services Committee of the American Bar Association Section of International Law; serves on the Executive Committee and is a Board member and former chairman of the Illinois Council on Economic Education; is a member and chairman of the Subcommittee on International Bankruptcy of the Commodity Futures Trading Commission Global Markets Advisory Committee and is an Editorial Board Member of the Capital Markets Law Journal for the Oxford University Press.

Hahn was the founding Faculty Chairman of the Chicago Kent Illinois Institute of Technology Graduate School of Financial Services Law (serving from 1988 through 1999) and is a Trustee of the Ravinia Festival. Hahn lectures and writes frequently on subjects relating to financial services. He is recognized as 2007 Illinois Super Lawyer. Hahn has served as an Institute Trustee since 1989.

Walter L. Lukken - Ex Officio
President and Chief Executive Officer, FIA

Lukken joined the FIA in March 2012. Before joining the FIA, he served as the chief executive officer of New York Portfolio Clearing, a derivatives clearinghouse jointly owned by NYSE Euronext and the Depository Trust and Clearing Corporation. Lukken also had been serving as senior vice president, Global Market Structure, Office of the General Counsel at NYSE Euronext, prior to being named CEO of NYPC.

During his career in Washington and New York, Lukken held a wide range of senior roles dealing with legislative, regulatory and industry matters. He served as counsel to the Senate Agriculture Committee, working under then-chairman Senator Richard Lugar of Indiana (R)on all legislative matters related to the oversight of the futures markets. In 2002, he was nominated by President George Bush to serve as a Commissioner of the Commodity Futures Trading Commission. During his time at the CFTC, he chaired the agency's global markets advisory committee, and for 18 months during 2007 and 2008 he served as the government agency's acting chairman. Lukken has served as an Institute Trustee since 2012.

Patricia (Trish) Foshée - Ex Officio
President, Institute for Financial Markets

Foshée has a passion for the educational mission of the IFM and is committed to promoting a better understanding of the markets. She joined the Institute in October 2000, and during her tenure with the IFM has held positions in director of sales and marketing and vice president of business development prior to taking the helm of the Institute in 2008. As head of the organization, she is responsible for daily operations and finance of the IFM as well as its educational programs, Data Center, and staff. Prior to joining the IFM she held various senior management positions in the hospitality, meeting and destination development industries.