People News - December 2018

Appointments, promotions and other people news in the derivatives industry

20 December 2018



Robert T. Cox, a vice president at the Federal Reserve Bank of Chicago and a longtime industry leader who was a member of FIA's board, passed away Dec. 7 at age 65.


Cox was a key advisor to the Federal Reserve Bank of Chicago on matters involving central counterparty risk and derivatives, serving as vice president in the financial markets group for the bank. Previously, he held executive positions in the futures clearing business at HSBC and Goldman Sachs. He also served as a board member at the Hong Kong Clearing Corporation and the Singapore International Monetary Exchange.

"If I had to describe Bob in a word, it would be 'teacher.' It brought great joy to Bob to share his knowledge and experience with others, helping to educate a generation of regulators and market participants about the cleared derivatives industry," said FIA president and CEO Walt Lukken.

"We are deeply saddened at the loss of Bob Cox, a tremendous figure in the derivatives community," said CFTC Chairman Chris Giancarlo in a statement. "His absence will be deeply felt here at the agency, as it will no doubt be throughout the financial markets."

FIA also regrets to report that Arthur Marcus, an industry leader for many years and a member of the FIA Futures Hall of Fame, passed away in early December.  He spent many years working at firms such as Paine Webber, Gerald Commodities, Reynolds Securities, Geldermann & Co., and Fimat. He served as chairman of FIA from 1984 to 1986 and helped establish the Futures Industry Institute as an educational affiliate of the FIA and the forerunner of the Institute for Financial Markets.



On Dec. 11, President Trump announced his intent to nominate of Heath Tarbert as the next U.S. Commodity Futures Trading Commission chairman. Tarbert currently serves as assistant secretary for international markets at the U.S. Treasury Department. In that role, which he has held since October 2017, he manages relations with international organizations such as the World Bank and represents the U.S. on the Financial Stability Board. He is also co-chair of the U.S.-EU Financial Regulatory Forum and the U.S.-UK Financial Regulatory Working Group, both of which focus on enhancing cooperation in the regulation of financial markets and services. Prior to joining the Trump administration, he was a partner at the law firm of Allen & Overy and head of that firm's bank regulatory group. He also worked as a special counsel to the Senate Banking Committee from 2009 and 2010, during which time he was involved in drafting the Dodd-Frank Act, and as associate counsel to President George W. Bush. If confirmed by the Senate, he would replace Chris Giancarlo, who indicated earlier in 2018 that he would not seek a second appointment as chairman after his term expires in April 2019 After the announcement, Giancarlo said in a statement that Tarbert is a "superb choice" and "well suited" to continue the transformation of the CFTC into a "twenty-first century digital regulator."

On Dec. 11, the Senate confirmed Justin Muzinich as deputy secretary of the U.S. Department of Treasury in a 55-44 vote. His nomination had been pending since April. Muzinich has worked as a top aide to Treasury Secretary Steven Mnuchin since the early days of the Trump administration and he was a key player in drafting the tax reform legislation enacted in 2017. Before joining the Trump administration, he was a policy director for former Florida Governor Jeb Bush during the 2016 presidential campaign. Before that he worked as an investment banker at Morgan Stanley and as an executive at an investment firm founded by his father.


On Dec. 13 OCC announced several changes to its leadership structure. John Davidson was promoted from president and chief operating officer to CEO, taking over that role from Craig Donohue. Scot Warren, currently OCC’s executive vice president and chief administrative officer, was promoted to executive vice president and COO. Donohue will remain at OCC as executive chairman. The changes will be effective upon regulatory approval.

As CEO, Davidson will report to the OCC board of directors and will have oversight responsibilities for OCC's information technology, financial risk management, corporate risk management, legal and compliance functions. He joined OCC in 2017 from Citigroup, where he served in several key leadership roles, including global compliance officer. Earlier in his career he spent 12 years at Morgan Stanley as a managing director in its global operations and services division, and was the head of CME's clearinghouse from 1983 to 1993.


As COO, Warren will report to Davidson and will have oversight responsibilities for OCC's operations, project management, business process optimization functions, finance, business development, and human resources. Warren joined OCC in 2015, and previously held leadership roles at CME Group and Goldman Sachs.

Separately, OCC promoted Vishal Thakkar, formerly first vice president of financial risk management and risk advisory services, to senior vice president and head of enterprise risk management. Also, Timothy Dwyer was appointed senior vice president of strategic systems, a new position at OCC. Dwyer previously served as vice president of product delivery at Prudential.

Paul Humphrey will leave Euronext after serving for about three years as its global head of fixed income, currencies and commodities. Chris Topple, who joined the Paris-based exchange in July as CEO of Euronext London, will now lead its fixed income, currencies and commodities business. Humphrey previously served as CEO of Euronext London on an interim basis before Topple was hired for the role.

Former JP Morgan managing director Richard Berliand will replace Rupert Robson as chairman of TP ICAP in May 2019. Robson is set to retire after 12 years on the board. Berliand, who worked at JP Morgan for 23 years, is currently a member of Deutsche Börse's supervisory board and an independent director at Man Group. He will step down from his role at Deutsche Börse in May. During his time at JP Morgan, he served as global head of futures, options and prime brokerage and as global head of cash equities. He also served as chairman of FIA in 2006 and 2007 and was named to the FIA Futures Hall of Fame in 2008.

Hong Kong Exchanges and Clearing announced that Roger Lee, HKEX's joint COO and head of markets, will retire at the end of December. Lee will also retire from his post as CEO of the Stock Exchange of Hong Kong and Hong Kong Futures Exchange. Lee joined SEHK in 1997 and has held a number of senior roles at SEHK and HKEX. Following his retirement, Calvin Tai will become sole COO of HKEX and will also serve as head of markets until Lee's successor is appointed.


Additionally, Cindy Chen has joined HKEX as head of post-trade business development for its clearing services across equities, fixed income and currencies. Her responsibilities include oversight of the group's distributed ledger technology project, which will apply DLT to post-trade allocation and processing. She previously worked at  Citi Hong Kong, where she was most recently the head of securities services.

Cboe Global Markets announced three changes to the leadership of its markets division. Arianne Criqui has been named senior vice president and head of options and business development. She joined Cboe from Goldman Sachs, where she was vice president and head of electronic options sales distribution. Robert Hocking has been named senior vice president and head of derivatives strategy for Cboe. He most recently served as global head of equity volatility trading at DRW Trading Group. Cboe also promoted Matthew McFarland to vice president and head of futures for Cboe Futures Exchange. McFarland is an 11-year veteran of Cboe. He previously was senior director for CFE's business strategy and operations.

Morgan Stanley promoted Mary Foreman to global head of sales for Morgan Stanley Fund Services, the bank’s hedge fund administration business. She previously was head of derivatives clearing distribution in the Americas.

Jamie Wall has been appointed executive vice president of advocacy for SIFMA, and will be the agency's senior government affairs officer. Wall joined SIFMA from Subject Matter where she advised a variety of clients, including a number of SIFMA member firms, on legislative, regulatory and political advocacy efforts. She also was previously director of global government relations at Honeywell International. Wall will report directly to Joseph Seidel, SIFMA's COO, and will serve as a member of the operating committee.

The Managed Funds Association has appointed Mark Epley as its general counsel, executive vice president and managing director effective Feb. 19. Epley will join MFA from the Office of the Speaker of the U.S. House of Representatives, where he serves as senior advisor and general counsel. As MFA’s chief legal officer, Epley will report directly to President and CEO Richard Baker and oversee all legal aspects of the association, including regulatory and legal matters related to MFA policy initiatives.

London Stock Exchange Group announced Chairman Donald Brydon will be replaced by Donald Robert, chairman of credit data firm Experian. Robert, who has also been a director at the Court of the Bank of England for more than four years, will assume the role of chairman after LSE's annual meeting in May.

The European Commodity Clearing appointed Götz Dittrich as a new member of its management board. At the same time, Dittrich will take over as COO of ECC and Iris Weidinger and Steffen Köhler will leave the ECC Management Board to focus on their mandates as CFO and COO of the European Energy Exchange, respectively. Dittrich joined ECC in 2013.

The European Energy Exchange, a subsidiary of Deutsche Börse, appointed Jens Rick as chief information officer and a member of the management board, effective Feb. 1. He joined Deutsche Börse in August 2015 director of energy IT, managing the design, development and operation of trading systems for energy and commodity markets.

Marex Spectron announced it will acquire the customer business of Rosenthal Collins Group, and as a result will see several leadership changes. Upon completion of the deal in January, Rosenthal Collins chairman and CEO Scott Gordon will become vice chairman of the new Marex Spectron RCG division, and Jason Manumaleuna, RCG’s president and CFO, will be appointed CEO of the Marex Spectron RCG division.

The U.S. Securities and Exchange Commission named Jeffrey Mooney as associate director in the agency's Office of Clearance and Settlement. As associate director, he will lead the agency's oversight of clearinghouses such as DTCC, ICE Clear Credit and OCC. Mooney joined the SEC staff in 1996 and has served in a variety of roles, most recently as assistant director for the Office of Clearance and Settlement.

Eurex Exchange has appointed Wolfgang Eholzer as chief technology officer, a newly created position, where he will focus on IT strategy and on Eurex‘s T7 trading system. Eholzer joined Eurex in 2007 as head of the Eurex trading technology roadmap.

Digital asset platform ErisX has named Matt Trudeau its chief strategy officer. Trudeau has overseen some 10 global market launches including Instinet, Chi-X, IEX and most recently Tradewind.

Parametric Portfolio Associates, an alternative asset manager with $238 billion in assets, has announced a leadership transition, including the retirement of Jack Hansen, chief investment officer of Parametric’s Minneapolis investment center. Effective in November 2019, Tim Atwill, currently head of investment strategy in Parametric’s Seattle investment office, and Tom Lee, currently managing director for investment strategy and research in the firm’s Minneapolis investment center, will be co-CIOs. Paul Bouchey, who currently serves as CIO of Parametric’s investment, research and strategy activities for Seattle-based strategies, will become Parametric’s global head of research and development.

Technology firm FIS has hired Paul Dex as business development manager. Dex previously served as business development manager at Fidessa for three years, focusing on the EMEA region. Prior to Fidessa, Dex held senior positions at Liffe, SEB, RBS and BNY Mellon.


FIA has announced five new staff members who have recently joined the organization. “These individuals strengthen an already talented and experienced legal, regulatory and outreach staff at FIA,” said Lukken. “Our members, and our industry broadly, are fortunate to have these experienced and talented individuals as advocates to policymakers, legislators, regulators and media.”

  • Stuart Bailey is the new Vice President of Clearing Policy and Operations in the London office.
  • Steve Adamske is the new Vice President, Head of Communications and Public Affairs in the Washington, DC office.
  • Kyle Glenn is the new Director of Government Relations in the Washington, D.C. office.
  • John Graham is the new Director of Regulation working in the London office.
  • Sabina Hussain is the new Events Manager working out of its London office.

Read more details on the new staffers in a press release on the appointments.


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