Ron Hersch is a senior managing director at Bear Stearns & Co. and director of the firm’s futures trading activities. He served as chairman of the FIA in 1998 and 1999 and in that capacity represented the FIA at numerous Congressional CFTC reauthorization hearings during which he emphasized the need for greater legal certainty for over-the-counter derivatives and increased regulatory flexibility for exchange markets and market intermediaries. He also led the FIA’s efforts to facilitate cross-border trading through the placement of foreign terminals in the U.S. In addition to his FIA activities, he has served as a director of the Chicago Board of Trade and the National Futures Association. He began his career as a commodities broker in 1969 and rose to managing director of institutional futures and execution services at Shearson from 1987 to 1992. He joined Bear Stearns in 1992.