FX Markets USA

Jonathan Karlin is the global head of emerging markets FX trading at Wells Fargo, joining in 2022. He has more than 15 years in emerging markets trading having previously worked at Bank of America, Macquarie, and most recently at RBS / NatWest Markets as the head of emerging markets FX Trading in the US. He additionally has spent time on the board of directors at EMTA (Emerging Market Traders Association). Jonathan holds a B.S. in economics from Duke University.

Garth Appelt is a Managing Director, Head of Foreign Exchange at Mizuho Americas. Prior to Mizuho, Garth was a Senior Managing Director at UBS where he was the Global Head of Emerging Markets, Global Head of G10 Foreign Exchange Spot FX, and Global Head of Precious Metals Trading. At UBS, Garth was a member of the FRC Americas Executive Committee and FRC Global Management Committee. Garth also served as a board member for the Emerging Markets Traders Association (EMTA). Prior to joining UBS, Appelt was a Portfolio Manager at Moore Capital Management specializing in G10 and Emerging Market directional and relative value strategies in foreign exchange, interest rates, credit and equities. Over a 25-year career, Appelt has also held positions at Goldman Sachs, Morgan Stanley, and JP Morgan in New York, Paris and London.

Ulf J. Lindahl, Chief Executive Officer, has 40 years of experience in currency research and in managing currency overlay and currency alpha portfolios for pension funds and family offices now applied at Currency Research Associates. The experience was gained at A.G. Bisset, which he co-founded in 1981. Ulf has published the Review of Emerging Trends since 1984 providing subscribers with advice they can trust on currencies, interest rates, equity markets and commodities. The Review of Emerging Trends is now published by Currency Research Associates.

Anna Nordstrom is head of the Domestic and International Markets Functions in the Federal Reserve Bank of New York’s Markets Group.

On the domestic markets side, she covers the Money Markets, Mortgage Markets, and Treasury Markets directorates. Together, these directorates are responsible for the implementation of domestic monetary policy operations as directed by the FOMC; monitoring and analyzing money markets, agency debt markets, mortgage markets, and Treasury markets; and executing Treasury auctions as fiscal agent for the U.S. Treasury.

From the international markets perspective, she manages the Foreign Reserves Management directorate, the Foreign Exchange and Global Markets directorate, and the Foreign Exchange Committee (FXC). Together, these areas are responsible for managing the euro- and yen-denominated assets of the U.S. foreign-exchange reserves; executing U.S. foreign exchange-related activities on behalf of the Federal Reserve System and the U.S. Treasury; the Federal Reserve’s central bank liquidity swap lines; monitoring and analysis of international financial market and policy developments; and contributing to the evolution of the FX Global Code. Nordstrom is an Ex Officio member of the FXC and represents the New York Fed on the Global Foreign Exchange Committee.

Before joining the New York Fed in 2008, Nordstrom held positions at the European Central Bank, the International Monetary Fund, and the Central Bank of Sweden (Sveriges Riksbank). Nordstrom studied public administration at Umea University in Sweden.